FY2018 Earnings Forecast for Brown & Brown, Inc. Issued By Langen Mcalenn (BRO)

Brown & Brown, Inc. (NYSE:BRO) – Equities research analysts at Langen Mcalenn raised their FY2018 EPS estimates for Brown & Brown in a research note issued on Tuesday. Langen Mcalenn analyst R. Glasspiegel now anticipates that the financial services provider will post earnings of $2.52 per share for the year, up from their previous forecast of $2.05. Langen Mcalenn has a “Buy” rating on the stock.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, October 16th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The firm had revenue of $475.60 million during the quarter, compared to analysts’ expectations of $475.13 million. Brown & Brown had a return on equity of 10.99% and a net margin of 14.66%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 earnings per share.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Brown & Brown from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Tuesday, January 2nd. SunTrust Banks upgraded Brown & Brown from a “hold” rating to a “buy” rating in a research note on Wednesday, December 6th. Citigroup cut Brown & Brown from a “neutral” rating to a “sell” rating and set a $47.00 target price for the company. in a research note on Wednesday, November 8th. Morgan Stanley boosted their target price on Brown & Brown from $40.00 to $43.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 18th. Finally, Wells Fargo & Co set a $45.00 target price on Brown & Brown and gave the stock a “hold” rating in a research note on Monday, October 16th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $46.38.

Brown & Brown (NYSE BRO) traded down $0.22 during mid-day trading on Friday, reaching $52.36. The company had a trading volume of 806,600 shares, compared to its average volume of 446,558. The stock has a market capitalization of $7,329.85, a PE ratio of 27.70, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79. Brown & Brown has a 12-month low of $41.10 and a 12-month high of $52.86. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.97 and a current ratio of 0.97.

In other Brown & Brown news, Director Richard Silas sold 50,000 shares of Brown & Brown stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $0.83, for a total transaction of $41,500.00. Insiders own 16.98% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Brown & Brown by 4.4% during the second quarter. Vanguard Group Inc. now owns 11,226,387 shares of the financial services provider’s stock worth $483,521,000 after buying an additional 468,116 shares during the period. BlackRock Inc. increased its holdings in shares of Brown & Brown by 2.2% in the second quarter. BlackRock Inc. now owns 9,704,740 shares of the financial services provider’s stock valued at $417,982,000 after purchasing an additional 213,014 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of Brown & Brown by 1.8% in the third quarter. First Eagle Investment Management LLC now owns 7,263,759 shares of the financial services provider’s stock valued at $350,041,000 after purchasing an additional 130,278 shares during the period. State Street Corp increased its holdings in shares of Brown & Brown by 1.7% in the second quarter. State Street Corp now owns 5,807,711 shares of the financial services provider’s stock valued at $250,140,000 after purchasing an additional 98,674 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Brown & Brown by 2.3% in the third quarter. Wells Fargo & Company MN now owns 5,804,446 shares of the financial services provider’s stock valued at $279,717,000 after purchasing an additional 130,832 shares during the period. 71.95% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: “FY2018 Earnings Forecast for Brown & Brown, Inc. Issued By Langen Mcalenn (BRO)” was originally published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/19/fy2018-earnings-forecast-for-brown-brown-inc-issued-by-langen-mcalenn-bro.html.

About Brown & Brown

Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.

Earnings History and Estimates for Brown & Brown (NYSE:BRO)

Receive News & Ratings for Brown & Brown Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brown & Brown and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply