$396.72 Million in Sales Expected for Primerica, Inc. (PRI) This Quarter
Wall Street analysts expect that Primerica, Inc. (NYSE:PRI) will post sales of $396.72 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Primerica’s earnings, with the highest sales estimate coming in at $410.94 million and the lowest estimate coming in at $382.49 million. Primerica posted sales of $379.24 million during the same quarter last year, which indicates a positive year over year growth rate of 4.6%. The firm is expected to issue its next earnings report after the market closes on Tuesday, August 8th.
According to Zacks, analysts expect that Primerica will report full year sales of $396.72 million for the current year, with estimates ranging from $1.55 billion to $1.67 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.75 billion per share, with estimates ranging from $1.70 billion to $1.80 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Primerica.
Primerica (NYSE:PRI) last posted its earnings results on Tuesday, May 9th. The financial services provider reported $1.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by $0.04. The company had revenue of $405.20 million for the quarter, compared to the consensus estimate of $401.58 million. Primerica had a net margin of 14.49% and a return on equity of 18.22%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $0.93 earnings per share.
Several brokerages recently issued reports on PRI. William Blair lowered shares of Primerica from an “outperform” rating to a “market perform” rating in a research note on Friday, April 21st. They noted that the move was a valuation call. Wells Fargo & Company lowered shares of Primerica from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 20th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $81.00 target price on shares of Primerica in a research note on Monday, April 10th. Zacks Investment Research lowered shares of Primerica from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. Finally, BidaskClub raised shares of Primerica from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Primerica presently has a consensus rating of “Hold” and an average price target of $78.20.
Primerica (PRI) traded down 0.70% during trading on Friday, hitting $78.35. The stock had a trading volume of 218,655 shares. The company has a market cap of $3.57 billion, a PE ratio of 16.38 and a beta of 1.13. The stock has a 50-day moving average price of $75.57 and a 200-day moving average price of $78.14. Primerica has a 52 week low of $49.69 and a 52 week high of $86.45.
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In other Primerica news, VP Alison S. Rand sold 2,000 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $71.55, for a total value of $143,100.00. Following the transaction, the vice president now directly owns 37,385 shares of the company’s stock, valued at $2,674,896.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.24% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. James Investment Research Inc. acquired a new position in Primerica during the first quarter worth $152,000. Independent Portfolio Consultants Inc. acquired a new position in Primerica during the second quarter worth $211,000. World Asset Management Inc acquired a new position in Primerica during the first quarter worth $233,000. TD Asset Management Inc. raised its position in Primerica by 1.7% in the first quarter. TD Asset Management Inc. now owns 3,030 shares of the financial services provider’s stock worth $249,000 after buying an additional 52 shares during the period. Finally, Sawtooth Solutions LLC acquired a new position in Primerica during the first quarter worth $274,000. 97.09% of the stock is currently owned by hedge funds and other institutional investors.
Primerica Inc (Primerica) is a distributor of financial products to middle-income households in the United States and Canada. The Company operates through three segments: Term Life Insurance, Investment and Savings Products, and Corporate and Other Distributed Products. The Term Life Insurance segment includes underwriting profits on its in-force book of term life insurance policies, net of reinsurance, which are underwritten by its life insurance company subsidiaries.
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