Zacks: Brokerages Anticipate AmTrust Financial Services, Inc. (NASDAQ:AFSI) Will Announce Earnings of $0.41 Per Share
Wall Street brokerages expect that AmTrust Financial Services, Inc. (NASDAQ:AFSI) will post earnings per share of $0.41 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for AmTrust Financial Services’ earnings. The highest EPS estimate is $0.48 and the lowest is $0.32. AmTrust Financial Services reported earnings per share of $0.81 in the same quarter last year, which suggests a negative year over year growth rate of 49.4%. The business is expected to issue its next quarterly earnings results after the market closes on Tuesday, August 8th.
On average, analysts expect that AmTrust Financial Services will report full-year earnings of $1.67 per share for the current year, with EPS estimates ranging from $1.55 to $1.77. For the next year, analysts forecast that the company will report earnings of $2.03 per share, with EPS estimates ranging from $1.85 to $2.15. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for AmTrust Financial Services.
AmTrust Financial Services (NASDAQ:AFSI) last announced its earnings results on Monday, May 8th. The insurance provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by $0.32. AmTrust Financial Services had a return on equity of 17.24% and a net margin of 7.55%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. AmTrust Financial Services’s quarterly revenue was down 1.2% on a year-over-year basis.
AFSI has been the subject of a number of analyst reports. TheStreet downgraded shares of AmTrust Financial Services from a “b-” rating to a “c” rating in a research note on Monday, May 1st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $16.00 price target on shares of AmTrust Financial Services in a research report on Tuesday, May 2nd. FBR & Co reissued a “buy” rating on shares of AmTrust Financial Services in a research report on Wednesday, April 12th. Compass Point reissued a “buy” rating and set a $22.00 price target (down previously from $26.00) on shares of AmTrust Financial Services in a research report on Tuesday, May 30th. Finally, JMP Securities initiated coverage on shares of AmTrust Financial Services in a research report on Friday, July 7th. They set an “outperform” rating and a $18.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $19.50.
Shares of AmTrust Financial Services (AFSI) traded up 0.44% during trading on Tuesday, hitting $16.02. The stock had a trading volume of 824,578 shares. The stock has a 50 day moving average of $15.03 and a 200 day moving average of $18.40. AmTrust Financial Services has a 52-week low of $11.80 and a 52-week high of $28.48. The firm has a market cap of $2.74 billion, a PE ratio of 9.19 and a beta of 1.16.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.26%. The ex-dividend date was Thursday, June 29th. AmTrust Financial Services’s dividend payout ratio (DPR) is currently 32.69%.
In related news, SVP Stephen Ungar sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $13.92, for a total transaction of $69,600.00. Following the completion of the sale, the senior vice president now owns 175,256 shares of the company’s stock, valued at $2,439,563.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 50.80% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in AFSI. Vanguard Group Inc. boosted its stake in shares of AmTrust Financial Services by 33.6% in the first quarter. Vanguard Group Inc. now owns 8,667,061 shares of the insurance provider’s stock valued at $159,994,000 after buying an additional 2,181,846 shares in the last quarter. Edge Asset Management Inc. boosted its stake in shares of AmTrust Financial Services by 24.9% in the first quarter. Edge Asset Management Inc. now owns 5,082,376 shares of the insurance provider’s stock valued at $93,819,000 after buying an additional 1,013,216 shares in the last quarter. Boston Partners boosted its stake in shares of AmTrust Financial Services by 291.8% in the second quarter. Boston Partners now owns 1,230,210 shares of the insurance provider’s stock valued at $18,625,000 after buying an additional 916,199 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of AmTrust Financial Services during the first quarter valued at about $15,064,000. Finally, Principal Financial Group Inc. boosted its stake in shares of AmTrust Financial Services by 50.1% in the first quarter. Principal Financial Group Inc. now owns 2,298,469 shares of the insurance provider’s stock valued at $42,430,000 after buying an additional 767,278 shares in the last quarter. 44.65% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY WARNING: This article was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another domain, it was stolen and reposted in violation of United States & international copyright and trademark law. The original version of this article can be read at https://www.americanbankingnews.com/2017/08/08/zacks-brokerages-anticipate-amtrust-financial-services-inc-nasdaqafsi-will-announce-earnings-of-0-41-per-share.html.
AmTrust Financial Services Company Profile
Amtrust Financial Services, Inc (AmTrust) is an insurance holding company. The Company, through its subsidiaries, provides specialty property and casualty insurance focusing on workers’ compensation and commercial package coverage for small business, specialty risk and extended warranty coverage, and property and casualty coverage for middle market business.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AmTrust Financial Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmTrust Financial Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.