Brokerages Anticipate Everest Re Group, Ltd. (NYSE:RE) to Announce $9.31 Earnings Per Share

Wall Street brokerages expect Everest Re Group, Ltd. (NYSE:REGet Rating) to post earnings of $9.31 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Everest Re Group’s earnings. The highest EPS estimate is $11.64 and the lowest is $8.13. Everest Re Group reported earnings per share of $14.63 during the same quarter last year, which would indicate a negative year over year growth rate of 36.4%. The firm is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Everest Re Group will report full-year earnings of $34.27 per share for the current fiscal year, with EPS estimates ranging from $31.80 to $37.05. For the next financial year, analysts forecast that the business will report earnings of $40.28 per share, with EPS estimates ranging from $35.65 to $44.70. Zacks’ EPS calculations are an average based on a survey of analysts that cover Everest Re Group.

Everest Re Group (NYSE:REGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The insurance provider reported $10.31 EPS for the quarter, beating the consensus estimate of $8.32 by $1.99. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.13 billion. Everest Re Group had a return on equity of 12.97% and a net margin of 11.11%. During the same period in the prior year, the company earned $6.49 EPS.

Several research firms have recently issued reports on RE. Zacks Investment Research lowered 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. Wells Fargo & Company upped their price target on shares of Everest Re Group from $310.00 to $330.00 in a research report on Friday, February 11th. StockNews.com raised shares of Everest Re Group from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Morgan Stanley boosted their price objective on Everest Re Group from $331.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, February 15th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $317.50.

NYSE RE traded down $5.77 on Friday, hitting $270.57. The company’s stock had a trading volume of 246,911 shares, compared to its average volume of 258,113. Everest Re Group has a 52-week low of $234.87 and a 52-week high of $308.20. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.32. The company’s 50-day simple moving average is $288.32 and its 200 day simple moving average is $282.24. The firm has a market cap of $10.67 billion, a P/E ratio of 8.06, a PEG ratio of 0.81 and a beta of 0.64.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 17th. Investors of record on Wednesday, May 25th will be issued a $1.65 dividend. This represents a $6.60 annualized dividend and a yield of 2.44%. The ex-dividend date is Tuesday, May 24th. This is an increase from Everest Re Group’s previous quarterly dividend of $1.55. Everest Re Group’s dividend payout ratio (DPR) is 18.47%.

In related news, VP Sanjoy Mukherjee sold 400 shares of the business’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Achmea Investment Management B.V. bought a new position in shares of Everest Re Group in the 3rd quarter worth about $28,000. Spire Wealth Management acquired a new stake in shares of Everest Re Group during the fourth quarter worth approximately $36,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. lifted its stake in Everest Re Group by 500.0% in the first quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 120 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Everest Re Group by 581.0% in the first quarter. Parkside Financial Bank & Trust now owns 143 shares of the insurance provider’s stock worth $43,000 after buying an additional 122 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of 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 buying an additional 37 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

About Everest Re Group (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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