Everest Re Group Ltd (RE) Expected to Post Quarterly Sales of $1.81 Billion
Wall Street brokerages expect Everest Re Group Ltd (NYSE:RE) to announce $1.81 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Everest Re Group’s earnings, with estimates ranging from $1.78 billion to $1.85 billion. Everest Re Group reported sales of $1.68 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.7%. The business is scheduled to report its next earnings results on Monday, October 29th.
On average, analysts expect that Everest Re Group will report full-year sales of $7.39 billion for the current financial year, with estimates ranging from $7.23 billion to $7.51 billion. For the next fiscal year, analysts expect that the firm will report sales of $8.10 billion per share, with estimates ranging from $7.82 billion to $8.29 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Everest Re Group.
Everest Re Group (NYSE:RE) last announced its earnings results on Monday, July 30th. The insurance provider reported $0.98 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.03). Everest Re Group had a return on equity of 1.80% and a net margin of 2.93%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the firm earned $5.51 EPS.
In other Everest Re Group news, CEO John P. Doucette sold 900 shares of Everest Re Group stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $215.32, for a total value of $193,788.00. Following the transaction, the chief executive officer now owns 22,620 shares in the company, valued at $4,870,538.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.30% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Piedmont Investment Advisors LLC purchased a new position in Everest Re Group during the 2nd quarter worth approximately $109,000. Robecosam AG purchased a new position in Everest Re Group during the 1st quarter worth approximately $131,000. Acadian Asset Management LLC grew its position in Everest Re Group by 299.3% during the 2nd quarter. Acadian Asset Management LLC now owns 575 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 431 shares in the last quarter. Signaturefd LLC purchased a new position in Everest Re Group during the 1st quarter worth approximately $177,000. Finally, Daiwa SB Investments Ltd. grew its position in Everest Re Group by 38.7% during the 2nd quarter. Daiwa SB Investments Ltd. now owns 860 shares of the insurance provider’s stock worth $198,000 after purchasing an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 92.91% of the company’s stock.
NYSE:RE traded up $2.47 during midday trading on Thursday, hitting $225.73. 244,300 shares of the stock were exchanged, compared to its average volume of 315,424. Everest Re Group has a one year low of $206.68 and a one year high of $264.88. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 1.29 and a beta of 0.44. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.35 and a quick ratio of 0.35.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Wednesday, September 5th will be given a $1.30 dividend. The ex-dividend date is Tuesday, September 4th. This represents a $5.20 annualized dividend and a yield of 2.30%. Everest Re Group’s dividend payout ratio (DPR) is 57.14%.
Everest Re Group Company Profile
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products. The company operates through the U.S. Reinsurance, International, Bermuda, and Insurance segments. 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 Unites States.
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