Equities research analysts predict that Everest Re Group Ltd (NYSE:RE) will announce earnings per share (EPS) of $3.33 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Everest Re Group’s earnings, with estimates ranging from $2.51 to $4.03. Everest Re Group posted earnings of $4.09 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 18.6%. The firm is expected to report its next earnings report on Monday, November 4th.
On average, analysts expect that Everest Re Group will report full year earnings of $24.94 per share for the current year, with EPS estimates ranging from $23.60 to $25.97. For the next year, analysts anticipate that the company will report earnings of $24.48 per share, with EPS estimates ranging from $23.60 to $25.40. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Everest Re Group.
Everest Re Group (NYSE:RE) last posted its earnings results on Monday, July 29th. The insurance provider reported $7.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.66 by $1.19. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.96 billion. Everest Re Group had a return on equity of 6.37% and a net margin of 6.67%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 EPS.
Several equities analysts have recently weighed in on the company. ValuEngine cut Everest Re Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research cut Everest Re Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Morgan Stanley cut their price objective on Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Barclays set a $300.00 price objective on Everest Re Group and gave the company a “buy” rating in a report on Monday, August 12th. Finally, UBS Group lifted their price objective on Everest Re Group from $252.00 to $257.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Everest Re Group currently has a consensus rating of “Hold” and an average price target of $254.71.
Shares of Everest Re Group stock traded up $2.54 during trading on Friday, hitting $249.29. 169,500 shares of the company were exchanged, compared to its average volume of 270,373. The firm has a market capitalization of $10.05 billion, a P/E ratio of 53.61, a price-to-earnings-growth ratio of 0.99 and a beta of 0.25. Everest Re Group has a 1-year low of $201.09 and a 1-year high of $260.51. The firm’s fifty day moving average price is $252.03 and its 200 day moving average price is $236.81. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.37 and a quick ratio of 0.37.
In other Everest Re Group news, CEO John P. Doucette sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $251.97, for a total value of $1,259,850.00. Following the sale, the chief executive officer now owns 22,747 shares in the company, valued at approximately $5,731,561.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Meryl D. Hartzband bought 500 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $242.31 per share, for a total transaction of $121,155.00. Following the purchase, the director now directly owns 9,570 shares in the company, valued at approximately $2,318,906.70. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS Group AG increased its position in shares of Everest Re Group by 12.5% during the 2nd quarter. UBS Group AG now owns 60,247 shares of the insurance provider’s stock worth $14,891,000 after purchasing an additional 6,676 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Everest Re Group during the 2nd quarter worth approximately $1,218,000. HM Payson & Co. acquired a new position in shares of Everest Re Group during the 2nd quarter worth approximately $272,000. Eaton Vance Management acquired a new position in shares of Everest Re Group during the 2nd quarter worth approximately $800,000. Finally, Amundi Pioneer Asset Management Inc. increased its position in shares of Everest Re Group by 127.2% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 70,001 shares of the insurance provider’s stock worth $17,304,000 after purchasing an additional 39,195 shares during the last quarter. Hedge funds and other institutional investors own 90.59% of the company’s stock.
Everest Re Group Company Profile
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four segments: U.S. Reinsurance, International, Bermuda, and Insurance. The U.S. Reinsurance segment writes property and casualty reinsurance; and specialty lines of business, including marine, aviation, surety, and accident and health insurance through reinsurance brokers, as well as directly with ceding companies in the United States.
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