Brown & Brown, Inc. (BRO) Expected to Post Quarterly Sales of $481.61 Million

Wall Street brokerages expect Brown & Brown, Inc. (NYSE:BRO) to report $481.61 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Brown & Brown’s earnings. The lowest sales estimate is $464.50 million and the highest is $493.50 million. Brown & Brown reported sales of $465.10 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.5%. The business is scheduled to report its next earnings results on Monday, April 16th.

According to Zacks, analysts expect that Brown & Brown will report full-year sales of $481.61 million for the current year, with estimates ranging from $1.90 billion to $1.96 billion. For the next year, analysts forecast that the firm will post sales of $2.04 billion per share, with estimates ranging from $1.98 billion to $2.11 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Brown & Brown.

Brown & Brown (NYSE:BRO) last posted its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.05. Brown & Brown had a net margin of 21.24% and a return on equity of 11.19%. The company had revenue of $474.30 million during the quarter, compared to analyst estimates of $449.89 million. During the same period in the prior year, the business posted $0.41 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year.

BRO has been the subject of several research reports. Zacks Investment Research lowered shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Morgan Stanley upped their price objective on shares of Brown & Brown from $40.00 to $43.00 and gave the stock an “underweight” rating in a report on Wednesday, October 18th. Wells Fargo & Co restated a “hold” rating and issued a $52.00 price objective on shares of Brown & Brown in a report on Monday, January 22nd. SunTrust Banks upgraded shares of Brown & Brown from a “hold” rating to a “buy” rating in a report on Wednesday, December 6th. Finally, Barclays upped their price objective on shares of Brown & Brown from $39.00 to $43.00 and gave the stock an “underweight” rating in a report on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Brown & Brown currently has an average rating of “Hold” and an average target price of $48.63.

Large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. grew its position in Brown & Brown by 1.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 34,420 shares of the financial services provider’s stock valued at $1,482,000 after purchasing an additional 582 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in Brown & Brown by 0.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 127,590 shares of the financial services provider’s stock valued at $6,566,000 after purchasing an additional 1,008 shares during the last quarter. American International Group Inc. grew its position in Brown & Brown by 0.4% during the 3rd quarter. American International Group Inc. now owns 274,875 shares of the financial services provider’s stock valued at $13,246,000 after purchasing an additional 1,203 shares during the last quarter. WCM Investment Management CA grew its position in Brown & Brown by 5.9% during the 3rd quarter. WCM Investment Management CA now owns 28,096 shares of the financial services provider’s stock valued at $1,354,000 after purchasing an additional 1,560 shares during the last quarter. Finally, Pzena Investment Management LLC grew its position in Brown & Brown by 21.4% during the 4th quarter. Pzena Investment Management LLC now owns 8,859 shares of the financial services provider’s stock valued at $456,000 after purchasing an additional 1,564 shares during the last quarter. 72.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Brown & Brown (NYSE:BRO) opened at $50.49 on Monday. Brown & Brown has a 1-year low of $41.10 and a 1-year high of $53.77. The company has a current ratio of 0.94, a quick ratio of 0.97 and a debt-to-equity ratio of 0.33. The company has a market cap of $7,040.00, a price-to-earnings ratio of 26.30, a P/E/G ratio of 2.11 and a beta of 0.73.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Thursday, February 1st. Brown & Brown’s dividend payout ratio is presently 31.25%.

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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.

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

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