Assurant, Inc. (AIZ) Expected to Post Quarterly Sales of $1.58 Billion
Analysts expect Assurant, Inc. (NYSE:AIZ) to post $1.58 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Assurant’s earnings. The lowest sales estimate is $1.56 billion and the highest is $1.60 billion. Assurant posted sales of $1.69 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 6.5%. The firm is expected to report its next quarterly earnings results after the market closes on Thursday, November 2nd.
On average, analysts expect that Assurant will report full-year sales of $1.58 billion for the current financial year, with estimates ranging from $6.24 billion to $6.37 billion. For the next financial year, analysts anticipate that the firm will report sales of $6.44 billion per share, with estimates ranging from $6.42 billion to $6.45 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Assurant.
Assurant (NYSE:AIZ) last released its earnings results on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.05. Assurant had a return on equity of 6.70% and a net margin of 6.53%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the business posted $1.42 EPS. The business’s revenue for the quarter was down 11.0% on a year-over-year basis.
AIZ has been the subject of several recent analyst reports. BidaskClub downgraded Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. SunTrust Banks, Inc. restated a “buy” rating and issued a $115.00 price target on shares of Assurant in a report on Thursday, October 12th.
Assurant (NYSE AIZ) opened at 99.89 on Monday. Assurant has a 1-year low of $78.50 and a 1-year high of $106.99. The firm’s 50-day moving average price is $94.82 and its 200 day moving average price is $99.46. The stock has a market cap of $5.38 billion, a PE ratio of 13.13 and a beta of 0.79.
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Institutional investors have recently made changes to their positions in the business. State of Tennessee Treasury Department increased its holdings in shares of Assurant by 59.9% in the second quarter. State of Tennessee Treasury Department now owns 240,130 shares of the financial services provider’s stock worth $24,899,000 after acquiring an additional 89,925 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Assurant in the second quarter worth about $6,137,000. Dearborn Partners LLC increased its holdings in shares of Assurant by 2.3% in the second quarter. Dearborn Partners LLC now owns 191,553 shares of the financial services provider’s stock worth $19,862,000 after acquiring an additional 4,242 shares in the last quarter. State of Wisconsin Investment Board increased its holdings in shares of Assurant by 27.1% in the second quarter. State of Wisconsin Investment Board now owns 48,390 shares of the financial services provider’s stock worth $5,018,000 after acquiring an additional 10,320 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Assurant by 35.5% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 161,970 shares of the financial services provider’s stock worth $16,795,000 after acquiring an additional 42,431 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.
Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).
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