Everest Re Group, Ltd. (RE) Issues Quarterly Earnings Results, Misses Estimates By $20.11 EPS
Everest Re Group, Ltd. (NYSE:RE) posted its quarterly earnings results on Monday. The insurance provider reported ($16.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.68 by ($20.11), Briefing.com reports. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Everest Re Group had a return on equity of 13.60% and a net margin of 19.65%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business earned $6.53 EPS.
Everest Re Group (RE) opened at 239.12 on Tuesday. The stock has a market cap of $9.82 billion, a P/E ratio of 8.20 and a beta of 0.62. Everest Re Group has a 52-week low of $202.28 and a 52-week high of $277.17. The firm’s 50-day moving average is $230.09 and its 200-day moving average is $247.85.
Several research analysts recently commented on RE shares. ValuEngine raised shares of Everest Re Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Wells Fargo & Company reaffirmed a “hold” rating and issued a $240.00 price target on shares of Everest Re Group in a research note on Monday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $259.00 price target (up previously from $250.00) on shares of Everest Re Group in a research note on Thursday, July 6th. Zacks Investment Research downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Finally, BidaskClub raised shares of Everest Re Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $243.10.
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About Everest Re Group
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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