Zacks: Brokerages Expect Validus Holdings, Ltd. (NYSE:VR) to Post $1.02 EPS
Equities analysts expect that Validus Holdings, Ltd. (NYSE:VR) will report earnings of $1.02 per share for the current quarter, Zacks reports. Zero analysts have made estimates for Validus Holdings’ earnings, with estimates ranging from $0.85 to $1.19. Validus Holdings reported earnings of $0.66 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 54.5%. The firm is expected to report its next quarterly earnings report after the market closes on Thursday, July 27th.
On average, analysts expect that Validus Holdings will report full year earnings of $3.73 per share for the current fiscal year, with EPS estimates ranging from $3.70 to $3.75. For the next fiscal year, analysts forecast that the business will post earnings of $4.22 per share, with EPS estimates ranging from $4.05 to $4.55. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that cover Validus Holdings.
Validus Holdings (NYSE:VR) last released its earnings results on Wednesday, April 26th. The insurance provider reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.17 by $0.22. The firm had revenue of $990.80 million for the quarter, compared to the consensus estimate of $1.03 billion. Validus Holdings had a return on equity of 7.05% and a net margin of 11.88%. Validus Holdings’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $1.39 EPS.
VR has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Validus Holdings from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Friday, June 30th. ValuEngine upgraded shares of Validus Holdings from a “hold” rating to a “buy” rating in a research note on Saturday, June 3rd. BidaskClub upgraded shares of Validus Holdings from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $55.00 target price on shares of Validus Holdings in a research note on Thursday, April 27th. Finally, Deutsche Bank AG upped their price target on shares of Validus Holdings from $56.00 to $59.00 and gave the company a “hold” rating in a research note on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $58.40.
In related news, CEO Kean Driscoll sold 4,151 shares of the stock in a transaction on Monday, April 17th. The shares were sold at an average price of $55.13, for a total transaction of $228,844.63. Following the transaction, the chief executive officer now owns 108,992 shares of the company’s stock, valued at approximately $6,008,728.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Matthew J. Grayson sold 3,000 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $54.54, for a total transaction of $163,620.00. Following the transaction, the director now directly owns 104,520 shares in the company, valued at approximately $5,700,520.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,302 shares of company stock worth $4,100,477. 2.33% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Validus Holdings by 2,898.5% in the first quarter. BlackRock Inc. now owns 3,235,863 shares of the insurance provider’s stock valued at $182,471,000 after buying an additional 3,127,947 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new position in Validus Holdings during the first quarter valued at approximately $54,660,000. Norges Bank acquired a new position in Validus Holdings during the fourth quarter valued at approximately $45,554,000. Victory Capital Management Inc. raised its position in Validus Holdings by 33.0% in the first quarter. Victory Capital Management Inc. now owns 2,370,761 shares of the insurance provider’s stock valued at $133,687,000 after buying an additional 588,594 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in Validus Holdings during the first quarter valued at approximately $26,981,000. 97.41% of the stock is currently owned by institutional investors.
Validus Holdings (NYSE VR) traded down 0.06% during trading on Tuesday, reaching $52.15. The company’s stock had a trading volume of 538,393 shares. Validus Holdings has a 12 month low of $47.90 and a 12 month high of $58.76. The company has a market cap of $4.13 billion, a P/E ratio of 14.82 and a beta of 0.64. The stock’s 50-day moving average is $52.62 and its 200 day moving average is $55.38.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Tuesday, June 13th. Validus Holdings’s dividend payout ratio is currently 43.18%.
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About Validus Holdings
Validus Holdings, Ltd. is a holding company. The Company operates through four segments: Validus Re, Talbot, Western World and AlphaCat. Validus Re is a Bermuda-based reinsurance segment focused treaty reinsurance. Validus Re concentrates on first-party property and other reinsurance risks. Talbot is a specialty insurance segment operating within the Lloyd’s insurance market through Syndicate 1183.
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