W.R. Berkley Corporation (WRB) Expected to Announce Earnings of $0.74 Per Share
Equities analysts forecast that W.R. Berkley Corporation (NYSE:WRB) will post earnings of $0.74 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for W.R. Berkley Corporation’s earnings. The highest EPS estimate is $0.77 and the lowest is $0.70. W.R. Berkley Corporation posted earnings of $0.88 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 15.9%. The company is scheduled to report its next earnings report on Tuesday, October 24th.
On average, analysts expect that W.R. Berkley Corporation will report full year earnings of $2.91 per share for the current year, with EPS estimates ranging from $2.90 to $2.95. For the next fiscal year, analysts forecast that the business will post earnings of $3.31 per share, with EPS estimates ranging from $3.12 to $3.45. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow W.R. Berkley Corporation.
W.R. Berkley Corporation (NYSE:WRB) last released its quarterly earnings data on Tuesday, July 25th. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.10. W.R. Berkley Corporation had a return on equity of 7.58% and a net margin of 7.86%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the business posted $0.82 earnings per share. W.R. Berkley Corporation’s revenue for the quarter was up .6% on a year-over-year basis.
Several brokerages recently commented on WRB. Keefe, Bruyette & Woods reaffirmed a “neutral” rating on shares of W.R. Berkley Corporation in a research note on Sunday, September 3rd. BidaskClub lowered W.R. Berkley Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $72.00 price target on shares of W.R. Berkley Corporation in a research note on Tuesday, August 29th. Boenning Scattergood reaffirmed a “hold” rating on shares of W.R. Berkley Corporation in a research note on Wednesday, July 26th. Finally, Zacks Investment Research lowered W.R. Berkley Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. W.R. Berkley Corporation presently has an average rating of “Hold” and an average target price of $65.00.
A number of institutional investors have recently bought and sold shares of WRB. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in W.R. Berkley Corporation by 46.8% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,881 shares of the insurance provider’s stock worth $133,000 after purchasing an additional 600 shares in the last quarter. IFP Advisors Inc boosted its stake in W.R. Berkley Corporation by 218.0% in the first quarter. IFP Advisors Inc now owns 2,064 shares of the insurance provider’s stock worth $146,000 after purchasing an additional 1,415 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in W.R. Berkley Corporation by 13.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 7,875 shares of the insurance provider’s stock worth $556,000 after purchasing an additional 953 shares in the last quarter. Wells Fargo & Company MN boosted its stake in W.R. Berkley Corporation by 6.4% in the first quarter. Wells Fargo & Company MN now owns 406,407 shares of the insurance provider’s stock worth $28,704,000 after purchasing an additional 24,481 shares in the last quarter. Finally, State Treasurer State of Michigan boosted its stake in W.R. Berkley Corporation by 0.8% in the first quarter. State Treasurer State of Michigan now owns 39,355 shares of the insurance provider’s stock worth $2,780,000 after purchasing an additional 300 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors.
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W.R. Berkley Corporation (NYSE WRB) traded up 3.206% during midday trading on Friday, reaching $64.545. 427,029 shares of the company traded hands. W.R. Berkley Corporation has a 12 month low of $55.55 and a 12 month high of $73.17. The firm has a market capitalization of $7.83 billion, a PE ratio of 13.704 and a beta of 0.88. The company’s 50-day moving average price is $67.84 and its 200 day moving average price is $68.92.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Tuesday, September 19th. W.R. Berkley Corporation’s dividend payout ratio is currently 11.84%.
W.R. Berkley Corporation declared that its board has approved a share repurchase program on Tuesday, August 8th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the insurance provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
W.R. Berkley Corporation Company Profile
W. R. Berkley Corporation is an insurance holding company. It operates through two segments: Insurance and Reinsurance-Global. The Insurance segment consists of its commercial insurance business operations, comprising excess and surplus lines, and admitted lines, throughout the United States, as well as its insurance business operations in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.
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