Brokerages expect that Arch Capital Group Ltd. (NASDAQ:ACGL) will post $1.18 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Arch Capital Group’s earnings. The highest sales estimate is $1.19 billion and the lowest is $1.18 billion. Arch Capital Group posted sales of $1.06 billion during the same quarter last year, which suggests a positive year over year growth rate of 11.3%. The company is expected to issue its next earnings results on Monday, February 12th.
According to Zacks, analysts expect that Arch Capital Group will report full-year sales of $1.18 billion for the current fiscal year, with estimates ranging from $4.68 billion to $4.69 billion. For the next year, analysts anticipate that the firm will report sales of $4.82 billion per share, with estimates ranging from $4.77 billion to $4.87 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Arch Capital Group.
Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, October 25th. The insurance provider reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). Arch Capital Group had a return on equity of 5.57% and a net margin of 9.44%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company earned $1.14 EPS. The firm’s quarterly revenue was up 30.7% compared to the same quarter last year.
In other news, CEO Nicolas Papadopoulo sold 54,554 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $95.53, for a total transaction of $5,211,543.62. Following the transaction, the chief executive officer now owns 147,481 shares in the company, valued at approximately $14,088,859.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Louis T. Petrillo sold 5,921 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $91.07, for a total transaction of $539,225.47. Following the transaction, the insider now owns 43,268 shares in the company, valued at approximately $3,940,416.76. The disclosure for this sale can be found here. Insiders have sold a total of 65,975 shares of company stock worth $6,256,989 in the last 90 days. 6.60% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC acquired a new position in Arch Capital Group in the 2nd quarter valued at $112,000. Vantage Investment Advisors LLC grew its stake in Arch Capital Group by 1,372.9% in the 2nd quarter. Vantage Investment Advisors LLC now owns 1,252 shares of the insurance provider’s stock valued at $117,000 after buying an additional 1,167 shares during the last quarter. Toronto Dominion Bank grew its stake in Arch Capital Group by 18.8% in the 2nd quarter. Toronto Dominion Bank now owns 1,596 shares of the insurance provider’s stock valued at $149,000 after buying an additional 253 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Arch Capital Group in the 2nd quarter valued at $197,000. Finally, CIBC World Markets Inc. acquired a new position in Arch Capital Group in the 2nd quarter valued at $208,000. Institutional investors and hedge funds own 79.41% of the company’s stock.
Arch Capital Group (NASDAQ:ACGL) traded up $0.08 during mid-day trading on Wednesday, reaching $88.38. 629,249 shares of the company’s stock were exchanged, compared to its average volume of 536,900. Arch Capital Group has a 12 month low of $84.21 and a 12 month high of $102.60. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.49. The stock has a market cap of $11,879.43, a P/E ratio of 28.51, a price-to-earnings-growth ratio of 1.35 and a beta of 0.67.
TRADEMARK VIOLATION WARNING: “Zacks: Analysts Expect Arch Capital Group Ltd. (ACGL) Will Post Quarterly Sales of $1.18 Billion” was first posted by American Banking News and is owned by of American Banking News. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of US and international copyright & trademark laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2018/01/03/zacks-analysts-expect-arch-capital-group-ltd-acgl-will-post-quarterly-sales-of-1-18-billion.html.
About Arch Capital Group
Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Arch Capital Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arch Capital Group and related companies with MarketBeat.com's FREE daily email newsletter.