RLI Corp. (RLI) Scheduled to Post Quarterly Earnings on Wednesday
RLI Corp. (NYSE:RLI) is set to issue its quarterly earnings data after the market closes on Wednesday, October 18th. Analysts expect the company to announce earnings of $0.48 per share for the quarter.
RLI Corp. (NYSE:RLI) last released its quarterly earnings results on Wednesday, July 19th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.09. RLI Corp. had a return on equity of 10.10% and a net margin of 12.38%. The firm had revenue of $196.20 million for the quarter, compared to analyst estimates of $198.09 million. During the same quarter last year, the company posted $0.61 earnings per share. The business’s revenue was up .1% on a year-over-year basis. On average, analysts expect RLI Corp. to post $2.02 EPS for the current fiscal year and $1.97 EPS for the next fiscal year.
RLI Corp. (NYSE RLI) opened at 57.90 on Wednesday. RLI Corp. has a 12-month low of $50.34 and a 12-month high of $69.39. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 25.62 and a beta of 1.24. The company’s 50 day moving average price is $55.00 and its 200-day moving average price is $55.86.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Thursday, August 31st were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.84 annualized dividend and a yield of 1.45%. RLI Corp.’s dividend payout ratio (DPR) is 37.17%.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of RLI Corp. from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Tuesday, September 26th. BidaskClub cut shares of RLI Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, FBR & Co restated a “hold” rating on shares of RLI Corp. in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. RLI Corp. currently has an average rating of “Hold” and an average target price of $46.50.
In other RLI Corp. news, Director Michael J. Stone sold 3,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $57.95, for a total value of $173,850.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael E. Angelina bought 1,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average price of $54.41 per share, with a total value of $54,410.00. The disclosure for this purchase can be found here. 6.09% of the stock is currently owned by corporate insiders.
About RLI Corp.
RLI Corp. is a specialty insurance company. The Company underwrites selected property and casualty insurance through subsidiaries, as well as offers insurance coverages in both the specialty admitted, and excess and surplus markets. It operates through Casualty, Property and Surety segments. Its Casualty segment consists of commercial and personal umbrella, general liability, commercial transportation, professional services, small commercial, executive products, medical professional liability and other casualty businesses.
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