Everest Re Group, Ltd. (RE) Expected to Post Quarterly Sales of $1.69 Billion
Analysts expect Everest Re Group, Ltd. (NYSE:RE) to announce $1.69 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Everest Re Group’s earnings, with the highest sales estimate coming in at $1.75 billion and the lowest estimate coming in at $1.63 billion. Everest Re Group reported sales of $1.57 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 7.6%. The company is scheduled to report its next earnings report on Monday, February 5th.
According to Zacks, analysts expect that Everest Re Group will report full year sales of $1.69 billion for the current fiscal year, with estimates ranging from $6.18 billion to $6.24 billion. For the next financial year, analysts anticipate that the firm will report sales of $6.77 billion per share, with estimates ranging from $6.73 billion to $6.83 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Everest Re Group.
Everest Re Group (NYSE:RE) last issued its quarterly earnings results on Monday, October 30th. The insurance provider reported ($16.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.68 by ($20.11). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.62 billion. Everest Re Group had a return on equity of 2.22% and a net margin of 4.27%. The business’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $6.53 earnings per share.
A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “sell” rating and issued a $216.00 price target on shares of Everest Re Group in a research note on Friday. Wells Fargo & Company set a $240.00 price target on Everest Re Group and gave the stock a “hold” rating in a research note on Monday, October 30th. UBS AG lowered their price target on Everest Re Group from $240.00 to $230.00 and set a “neutral” rating on the stock in a research note on Monday, October 2nd. Barclays PLC lifted their price target on Everest Re Group from $299.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 11th. Finally, Zacks Investment Research lowered Everest Re Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Everest Re Group presently has a consensus rating of “Hold” and an average target price of $241.70.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RE. Acrospire Investment Management LLC boosted its stake in Everest Re Group by 66.7% during the second quarter. Acrospire Investment Management LLC now owns 500 shares of the insurance provider’s stock worth $127,000 after buying an additional 200 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Everest Re Group during the second quarter worth $160,000. IFP Advisors Inc boosted its stake in Everest Re Group by 29.1% during the second quarter. IFP Advisors Inc now owns 657 shares of the insurance provider’s stock worth $167,000 after buying an additional 148 shares during the last quarter. ETRADE Capital Management LLC acquired a new position in Everest Re Group during the second quarter worth $201,000. Finally, Sawtooth Solutions LLC acquired a new position in Everest Re Group during the second quarter worth $205,000. 93.39% of the stock is currently owned by institutional investors.
Shares of Everest Re Group (NYSE:RE) opened at $227.84 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.33 and a quick ratio of 0.30. The stock has a market capitalization of $9,356.02, a P/E ratio of 54.25, a PEG ratio of 13.15 and a beta of 0.65. Everest Re Group has a 12 month low of $205.02 and a 12 month high of $277.17.
Everest Re Group Company Profile
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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