Boenning Scattergood Weighs in on Atlas Financial Holdings Inc’s FY2018 Earnings (AFH)
Atlas Financial Holdings Inc (NASDAQ:AFH) – Stock analysts at Boenning Scattergood upped their FY2018 EPS estimates for Atlas Financial in a research note issued on Tuesday, November 6th. Boenning Scattergood analyst R. Farnam now forecasts that the insurance provider will post earnings of $1.75 per share for the year, up from their prior estimate of $1.70. Boenning Scattergood currently has a “Buy” rating on the stock.
Several other analysts also recently weighed in on AFH. Zacks Investment Research downgraded Atlas Financial from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 19th. ValuEngine raised Atlas Financial from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $15.33.
Atlas Financial (NASDAQ:AFH) last announced its earnings results on Monday, November 5th. The insurance provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.19. Atlas Financial had a negative return on equity of 48.83% and a negative net margin of 16.44%. The firm had revenue of $55.77 million during the quarter, compared to the consensus estimate of $52.00 million.
A number of institutional investors have recently bought and sold shares of the business. Eidelman Virant Capital acquired a new position in shares of Atlas Financial in the 2nd quarter worth approximately $175,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Atlas Financial by 47.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 24,900 shares of the insurance provider’s stock worth $258,000 after buying an additional 8,000 shares in the last quarter. LMR Partners LLP acquired a new position in shares of Atlas Financial in the 2nd quarter worth approximately $280,000. Paloma Partners Management Co acquired a new position in shares of Atlas Financial in the 2nd quarter worth approximately $448,000. Finally, Prescott Group Capital Management L.L.C. acquired a new position in shares of Atlas Financial in the 3rd quarter worth approximately $819,000. 76.91% of the stock is owned by hedge funds and other institutional investors.
About Atlas Financial
Atlas Financial Holdings, Inc, through its subsidiaries, engages in underwriting commercial automobile insurance policies in the United States. Its automobile insurance products provide insurance coverage in three primary areas, including liability, accident benefits, and physical damage. The company focuses on the light commercial automobile sector, including taxi cabs, non-emergency para-transit, limousine, livery, and business autos.
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