Brokerages forecast that Everest Re Group, Ltd. (NYSE:RE) will announce sales of $1.58 billion for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Everest Re Group’s earnings, with estimates ranging from $1.55 billion to $1.62 billion. Everest Re Group reported sales of $1.51 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 4.6%. The firm is scheduled to announce its next quarterly earnings report on Monday, October 23rd.

According to Zacks, analysts expect that Everest Re Group will report full year sales of $1.58 billion for the current financial year, with estimates ranging from $6.18 billion to $6.24 billion. For the next fiscal year, analysts forecast that the company will post sales of $6.77 billion per share, with estimates ranging from $6.73 billion to $6.83 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Everest Re Group.

Everest Re Group (NYSE:RE) last released its earnings results on Monday, July 24th. The insurance provider reported $5.51 EPS for the quarter, topping analysts’ consensus estimates of $5.24 by $0.27. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm earned $3.17 EPS.

RE has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lowered shares of Everest Re Group from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $251.00 to $245.00 in a research note on Monday, July 17th. Zacks Investment Research raised shares of Everest Re Group from a “hold” rating to a “buy” rating and set a $293.00 price objective on the stock in a research note on Friday, July 7th. Deutsche Bank AG reissued a “buy” rating and set a $262.00 price objective (up previously from $240.00) on shares of Everest Re Group in a research note on Saturday, April 29th. Morgan Stanley reissued an “equal weight” rating and set a $259.00 price objective (up previously from $250.00) on shares of Everest Re Group in a research note on Thursday, July 6th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Everest Re Group in a research note on Monday, April 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Everest Re Group presently has an average rating of “Hold” and a consensus target price of $250.25.

A number of hedge funds have recently made changes to their positions in RE. IFP Advisors Inc increased its stake in shares of Everest Re Group by 1.6% in the first quarter. IFP Advisors Inc now owns 509 shares of the insurance provider’s stock valued at $119,000 after buying an additional 8 shares during the period. Huntington National Bank increased its stake in shares of Everest Re Group by 1.5% in the second quarter. Huntington National Bank now owns 921 shares of the insurance provider’s stock valued at $235,000 after buying an additional 14 shares during the period. Torray LLC increased its stake in shares of Everest Re Group by 0.8% in the second quarter. Torray LLC now owns 1,831 shares of the insurance provider’s stock valued at $466,000 after buying an additional 15 shares during the period. Advisor Partners LLC increased its stake in shares of Everest Re Group by 1.9% in the first quarter. Advisor Partners LLC now owns 1,289 shares of the insurance provider’s stock valued at $301,000 after buying an additional 24 shares during the period. Finally, Wetherby Asset Management Inc. increased its stake in shares of Everest Re Group by 2.0% in the second quarter. Wetherby Asset Management Inc. now owns 1,295 shares of the insurance provider’s stock valued at $330,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 91.63% of the company’s stock.

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Shares of Everest Re Group (NYSE RE) opened at 262.47 on Tuesday. The firm has a market cap of $10.78 billion, a price-to-earnings ratio of 9.01 and a beta of 0.63. Everest Re Group has a 12-month low of $183.04 and a 12-month high of $277.17. The stock’s 50 day moving average is $265.05 and its 200-day moving average is $247.54.

Everest Re Group Company Profile

Everest Re Group, Ltd., through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Company operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.

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Earnings History and Estimates for Everest Re Group (NYSE:RE)

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