Brokerages Expect AmTrust Financial Services, Inc. (AFSI) Will Announce Quarterly Sales of $1.52 Billion
Brokerages expect AmTrust Financial Services, Inc. (NASDAQ:AFSI) to announce $1.52 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for AmTrust Financial Services’ earnings, with the highest sales estimate coming in at $1.55 billion and the lowest estimate coming in at $1.50 billion. AmTrust Financial Services reported sales of $1.40 billion in the same quarter last year, which indicates a positive year over year growth rate of 8.6%. The company is expected to issue its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that AmTrust Financial Services will report full year sales of $1.52 billion for the current financial year, with estimates ranging from $6.06 billion to $6.08 billion. For the next year, analysts forecast that the business will report sales of $6.52 billion per share, with estimates ranging from $6.23 billion to $6.81 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow AmTrust Financial Services.
AmTrust Financial Services (NASDAQ:AFSI) last announced its quarterly earnings results on Tuesday, August 8th. The insurance provider reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.04. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. AmTrust Financial Services had a return on equity of 14.26% and a net margin of 5.14%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 earnings per share.
A number of analysts recently issued reports on the company. ValuEngine cut AmTrust Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub cut AmTrust Financial Services from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. TheStreet cut AmTrust Financial Services from a “c” rating to a “d” rating in a research report on Wednesday, July 19th. JMP Securities assumed coverage on AmTrust Financial Services in a research report on Friday, July 7th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, FBR & Co reissued an “outperform” rating and set a $22.00 price objective (up previously from $16.00) on shares of AmTrust Financial Services in a research report on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.50.
Shares of AmTrust Financial Services (AFSI) opened at 13.05 on Friday. The firm’s 50-day moving average price is $13.70 and its 200 day moving average price is $15.51. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 12.68 and a beta of 1.21. AmTrust Financial Services has a 52 week low of $11.36 and a 52 week high of $28.48.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.68 annualized dividend and a yield of 5.21%. AmTrust Financial Services’s dividend payout ratio (DPR) is currently 51.13%.
A number of hedge funds and other institutional investors have recently bought and sold shares of AFSI. Quantbot Technologies LP bought a new position in AmTrust Financial Services during the first quarter valued at about $121,000. SG Americas Securities LLC raised its holdings in AmTrust Financial Services by 57.7% during the first quarter. SG Americas Securities LLC now owns 8,673 shares of the insurance provider’s stock valued at $160,000 after buying an additional 3,173 shares in the last quarter. Alpha Cubed Investments LLC bought a new position in AmTrust Financial Services during the second quarter valued at about $200,000. Raymond James Financial Services Advisors Inc. raised its holdings in AmTrust Financial Services by 4.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 13,181 shares of the insurance provider’s stock valued at $200,000 after buying an additional 506 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware bought a new position in AmTrust Financial Services during the first quarter valued at about $211,000. Institutional investors own 39.43% of the company’s stock.
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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.
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