Analysts Anticipate Everest Re Group, Ltd. (NYSE:RE) Will Post Quarterly Sales of $3.13 Billion

Brokerages predict that Everest Re Group, Ltd. (NYSE:REGet Rating) will announce sales of $3.13 billion for the current quarter, Zacks reports. Two analysts have issued estimates for Everest Re Group’s earnings, with the highest sales estimate coming in at $3.16 billion and the lowest estimate coming in at $3.11 billion. Everest Re Group posted sales of $2.70 billion in the same quarter last year, which would indicate a positive year over year growth rate of 15.9%. The business is expected to report its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Everest Re Group will report full year sales of $13.10 billion for the current fiscal year, with estimates ranging from $13.04 billion to $13.16 billion. For the next fiscal year, analysts forecast that the firm will report sales of $14.54 billion, with estimates ranging from $14.40 billion to $14.68 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Everest Re Group.

Everest Re Group (NYSE:REGet Rating) last released its quarterly earnings results on Wednesday, February 9th. The insurance provider reported $9.12 earnings per share for the quarter, missing analysts’ consensus estimates of $9.23 by ($0.11). Everest Re Group had a return on equity of 11.48% and a net margin of 11.62%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the business posted ($1.12) EPS.

A number of analysts have recently weighed in on RE shares. Zacks Investment Research downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research report on Thursday, March 17th. StockNews.com started coverage on shares of Everest Re Group in a research report on Thursday, March 31st. They set a “buy” rating for the company. Morgan Stanley lifted their price objective on shares of Everest Re Group from $331.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, February 15th. Finally, Wells Fargo & Company lifted their price objective on shares of Everest Re Group from $310.00 to $330.00 in a report on Friday, February 11th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Everest Re Group presently has a consensus rating of “Buy” and a consensus target price of $317.50.

In other Everest Re Group news, Director William F. Galtney, Jr. sold 3,278 shares of the firm’s stock in a transaction on Friday, February 18th. The stock was sold at an average price of $305.67, for a total value of $1,001,986.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Sanjoy Mukherjee sold 400 shares of the firm’s stock in a transaction on Thursday, March 24th. The shares were sold at an average price of $295.00, for a total value of $118,000.00. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Achmea Investment Management B.V. bought a new stake in shares of Everest Re Group during the third quarter valued at about $28,000. Spire Wealth Management bought a new stake in shares of Everest Re Group during the fourth quarter valued at about $36,000. Cullen Frost Bankers Inc. bought a new stake in Everest Re Group in the third quarter worth about $63,000. Northwestern Mutual Wealth Management Co. raised its position in Everest Re Group by 18.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 236 shares of the insurance provider’s stock worth $64,000 after acquiring an additional 37 shares in the last quarter. Finally, Sentry Investment Management LLC raised its position in Everest Re Group by 754.8% in the third quarter. Sentry Investment Management LLC now owns 359 shares of the insurance provider’s stock worth $90,000 after acquiring an additional 317 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Shares of RE stock traded down $1.20 during mid-day trading on Monday, reaching $290.57. 190,060 shares of the company were exchanged, compared to its average volume of 239,328. Everest Re Group has a fifty-two week low of $234.87 and a fifty-two week high of $308.20. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market capitalization of $14.29 billion, a P/E ratio of 8.42, a P/E/G ratio of 0.87 and a beta of 0.61. The business’s 50 day simple moving average is $291.79 and its 200 day simple moving average is $279.82.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 30th. Shareholders of record on Wednesday, March 16th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Tuesday, March 15th. Everest Re Group’s dividend payout ratio is presently 17.96%.

Everest Re Group Company Profile (Get Rating)

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.

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