Analysts Expect Everest Re Group, Ltd. (RE) Will Announce Quarterly Sales of $1.58 Billion
Equities analysts expect that Everest Re Group, Ltd. (NYSE:RE) will report sales of $1.58 billion for the current quarter, according to Zacks. Two analysts have issued estimates for Everest Re Group’s earnings, with the highest sales estimate coming in at $1.62 billion and the lowest estimate coming in at $1.55 billion. Everest Re Group posted sales of $1.51 billion in the same quarter last year, which suggests a positive year over year growth rate of 4.6%. The company is scheduled to report its next earnings results on Monday, October 23rd.
On average, 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 year, analysts anticipate that the firm will report sales of $6.77 billion per share, with estimates ranging from $6.73 billion to $6.83 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Everest Re Group.
Everest Re Group (NYSE:RE) last posted its quarterly earnings data on Monday, July 24th. The insurance provider reported $5.51 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm posted $3.17 earnings per share.
A number of research firms have recently weighed in on RE. ValuEngine upgraded shares of Everest Re Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Morgan Stanley restated an “equal weight” rating and issued a $259.00 price target (up from $250.00) on shares of Everest Re Group in a report on Thursday, July 6th. Wells Fargo & Company restated a “hold” rating on shares of Everest Re Group in a report on Monday, July 24th. Zacks Investment Research cut shares of Everest Re Group from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Finally, BidaskClub upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $250.25.
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A number of hedge funds and other institutional investors have recently modified their holdings of RE. Janney Montgomery Scott LLC purchased a new stake in Everest Re Group in the 1st quarter worth $209,000. IFP Advisors Inc increased its holdings in Everest Re Group by 1.6% in the 1st quarter. IFP Advisors Inc now owns 509 shares of the insurance provider’s stock worth $119,000 after acquiring an additional 8 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its holdings in Everest Re Group by 16.7% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,227 shares of the insurance provider’s stock worth $754,000 after acquiring an additional 462 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Everest Re Group by 177.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 28,011 shares of the insurance provider’s stock worth $6,549,000 after acquiring an additional 17,931 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Everest Re Group by 24.2% in the 1st quarter. American Century Companies Inc. now owns 97,054 shares of the insurance provider’s stock worth $22,692,000 after acquiring an additional 18,941 shares in the last quarter. 92.39% of the stock is owned by institutional investors.
Shares of Everest Re Group (RE) opened at 222.48 on Friday. The company has a market cap of $9.14 billion, a price-to-earnings ratio of 7.63 and a beta of 0.64. Everest Re Group has a 1-year low of $183.04 and a 1-year high of $277.17. The company’s 50-day moving average is $258.06 and its 200 day moving average is $248.73.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, September 1st. Everest Re Group’s dividend payout ratio (DPR) is 17.15%.
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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