Analysts’ Recent Ratings Changes for Everest Re Group (RE)
Everest Re Group (NYSE: RE) has recently received a number of price target changes and ratings updates:
- 10/16/2017 – Everest Re Group had its price target lowered by analysts at Barclays PLC from $305.00 to $280.00. They now have an “overweight” rating on the stock.
- 10/13/2017 – Everest Re Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Everest Re underperformed the industry year to date. The insurer also witnessed its 2017 and 2018 estimates moving south over the last 60 days. Further, a competitive reinsurance market and exposure to catastrophe events infusing underwriting volatility remain headwinds. The compnay expects to incur $1.2 billion in catastrophe losses in the third quarter. Nonetheless, Everest Re Group has substantially benefited from its global presence, product diversification, capital adequacy, financial flexibility and traditional risk management capabilities. It is divesting underperforming business and strengthening reserves. Banking on favorable operational performance the company enjoys disciplined capital management strategy and strong capital balance position. “
- 10/13/2017 – Everest Re Group had its “sell” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $230.00 price target on the stock.
- 10/5/2017 – Everest Re Group was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
- 10/2/2017 – Everest Re Group had its price target lowered by analysts at UBS AG from $240.00 to $230.00. They now have a “neutral” rating on the stock.
- 9/21/2017 – Everest Re Group had its “sell” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $245.00 price target on the stock.
- 9/19/2017 – Everest Re Group had its price target lowered by analysts at UBS AG from $256.00 to $240.00. They now have a “neutral” rating on the stock.
- 9/11/2017 – Everest Re Group is now covered by analysts at Buckingham Research. They set a “neutral” rating and a $255.00 price target on the stock.
- 9/7/2017 – Everest Re Group was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
- 9/1/2017 – Everest Re Group was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
Shares of Everest Re Group, Ltd. (NYSE:RE) opened at 236.40 on Wednesday. The stock has a market cap of $9.71 billion, a PE ratio of 8.11 and a beta of 0.62. The firm has a 50-day moving average price of $230.49 and a 200-day moving average price of $247.66. Everest Re Group, Ltd. has a 12 month low of $191.11 and a 12 month high of $277.17.
Everest Re Group (NYSE:RE) last released its quarterly earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the firm posted $3.17 EPS. Equities analysts forecast that Everest Re Group, Ltd. will post $1.54 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, September 1st. Everest Re Group’s payout ratio is currently 17.15%.
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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