Zacks: Brokerages Expect Navigators Group Inc (NAVG) Will Post Quarterly Sales of $380.73 Million

Equities analysts expect Navigators Group Inc (NASDAQ:NAVG) to post sales of $380.73 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Navigators Group’s earnings, with estimates ranging from $379.30 million to $382.16 million. Navigators Group reported sales of $324.88 million in the same quarter last year, which would suggest a positive year over year growth rate of 17.2%. The company is scheduled to report its next earnings report on Thursday, February 21st.

According to Zacks, analysts expect that Navigators Group will report full year sales of $1.46 billion for the current year. For the next year, analysts expect that the business will post sales of $1.59 billion, with estimates ranging from $1.58 billion to $1.60 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Navigators Group.

Navigators Group (NASDAQ:NAVG) last released its quarterly earnings results on Wednesday, November 7th. The insurance provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). Navigators Group had a net margin of 4.44% and a return on equity of 4.52%. The company had revenue of $374.41 million during the quarter, compared to analysts’ expectations of $373.96 million.

NAVG has been the topic of several recent research reports. BidaskClub raised shares of Navigators Group from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Sandler O’Neill raised shares of Navigators Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. ValuEngine raised shares of Navigators Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Keefe, Bruyette & Woods set a $70.00 target price on shares of Navigators Group and gave the stock a “hold” rating in a research note on Wednesday, August 22nd. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Navigators Group in a research note on Wednesday, August 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $65.67.

A number of institutional investors and hedge funds have recently made changes to their positions in NAVG. Mint Tower Capital Management B.V. purchased a new stake in Navigators Group during the 3rd quarter worth approximately $104,000. Dupont Capital Management Corp purchased a new stake in shares of Navigators Group in the 3rd quarter valued at approximately $125,000. CIBC Asset Management Inc purchased a new stake in shares of Navigators Group in the 3rd quarter valued at approximately $201,000. Federated Investors Inc. PA purchased a new stake in shares of Navigators Group in the 2nd quarter valued at approximately $209,000. Finally, Wesbanco Bank Inc. purchased a new stake in shares of Navigators Group in the 3rd quarter valued at approximately $214,000. 74.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NAVG opened at $69.30 on Friday. Navigators Group has a fifty-two week low of $45.80 and a fifty-two week high of $71.45. The company has a market cap of $2.07 billion, a P/E ratio of 59.74 and a beta of 0.56. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, November 30th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.40%. The ex-dividend date is Thursday, November 29th. Navigators Group’s payout ratio is currently 24.14%.

About Navigators Group

The Navigators Group, Inc, together with its subsidiaries, underwrites marine, property and casualty, and professional liability insurance products and services in the United States and internationally. The company operates through the U.S. Insurance, International Insurance, Global Reinsurance, and Corporate segments.

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