$34.18 Million in Sales Expected for Kingstone Companies, Inc. (NASDAQ:KINS) This Quarter

Equities analysts expect Kingstone Companies, Inc. (NASDAQ:KINS – Get Rating) to post $34.18 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Kingstone Companies’ earnings, with the highest sales estimate coming in at $37.20 million and the lowest estimate coming in at $31.16 million. Kingstone Companies posted sales of $39.60 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 13.7%. The business is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Kingstone Companies will report full year sales of $132.80 million for the current financial year, with estimates ranging from $115.59 million to $150.00 million. For the next financial year, analysts expect that the company will post sales of $139.86 million, with estimates ranging from $118.03 million to $161.70 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Kingstone Companies.

Kingstone Companies (NASDAQ:KINS – Get Rating) last issued its earnings results on Thursday, March 10th. The insurance provider reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.08). The company had revenue of $43.17 million during the quarter, compared to analyst estimates of $39.43 million. Kingstone Companies had a negative net margin of 10.82% and a negative return on equity of 24.09%. During the same quarter last year, the company posted $0.05 EPS.

A number of brokerages have recently issued reports on KINS. Piper Sandler cut their target price on shares of Kingstone Companies from $7.00 to $5.40 and set a “na” rating on the stock in a research note on Monday, May 16th. Zacks Investment Research lowered shares of Kingstone Companies from a “buy” rating to a “hold” rating in a research note on Saturday, May 14th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. grew its position in Kingstone Companies by 12.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 56,982 shares of the insurance provider’s stock worth $285,000 after purchasing an additional 6,319 shares during the last quarter. Salzhauer Michael grew its position in Kingstone Companies by 18.7% in the 4th quarter. Salzhauer Michael now owns 101,866 shares of the insurance provider’s stock worth $509,000 after purchasing an additional 16,061 shares during the last quarter. Eidelman Virant Capital grew its position in Kingstone Companies by 54.0% in the 4th quarter. Eidelman Virant Capital now owns 124,642 shares of the insurance provider’s stock worth $624,000 after purchasing an additional 43,726 shares during the last quarter. BlackRock Inc. grew its position in Kingstone Companies by 16.5% in the 3rd quarter. BlackRock Inc. now owns 145,594 shares of the insurance provider’s stock worth $966,000 after purchasing an additional 20,614 shares during the last quarter. Finally, Gator Capital Management LLC bought a new position in Kingstone Companies in the 4th quarter worth about $1,694,000. Hedge funds and other institutional investors own 61.81% of the company’s stock.

Shares of Kingstone Companies stock opened at $4.53 on Friday. The firm has a market cap of $48.24 million, a PE ratio of -2.92 and a beta of 0.83. The firm’s 50-day simple moving average is $4.89 and its 200-day simple moving average is $5.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.44 and a current ratio of 0.40. Kingstone Companies has a 1 year low of $3.95 and a 1 year high of $8.39.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st will be paid a dividend of $0.04 per share. The ex-dividend date is Friday, May 27th. This represents a $0.16 annualized dividend and a yield of 3.53%. Kingstone Companies’s dividend payout ratio (DPR) is -10.32%.

Kingstone Companies Company Profile (Get Rating)

Kingstone Companies, Inc, through its subsidiary, Kingstone Insurance Company, underwrites property and casualty insurance products to individuals in New York. The company offers personal lines insurance products, including homeowners and dwelling fire multi-peril, cooperative/condominiums, renters, and personal umbrella policies.

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