Heritage Insurance (HRTG) Set to Announce Earnings on Wednesday

Heritage Insurance (NYSE:HRTG) is scheduled to post its quarterly earnings results after the market closes on Wednesday, May 1st. Analysts expect Heritage Insurance to post earnings of $0.61 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Heritage Insurance (NYSE:HRTG) last posted its quarterly earnings results on Monday, March 11th. The insurance provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.70. The business had revenue of $186.97 million for the quarter, compared to the consensus estimate of $185.11 million. Heritage Insurance had a return on equity of 26.69% and a net margin of 6.16%. On average, analysts expect Heritage Insurance to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Heritage Insurance Stock Performance

Shares of HRTG opened at $10.29 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a 50 day moving average price of $8.92 and a two-hundred day moving average price of $7.48. The firm has a market capitalization of $315.29 million, a P/E ratio of 5.98 and a beta of 0.89. Heritage Insurance has a 52 week low of $3.15 and a 52 week high of $11.23.

Insider Activity

In other news, Director Paul L. Whiting acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $8.14 per share, for a total transaction of $162,800.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at $162,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 3,800 shares of company stock valued at $28,943 over the last three months. Corporate insiders own 11.90% of the company’s stock.

Wall Street Analysts Forecast Growth

HRTG has been the subject of a number of recent research reports. StockNews.com raised Heritage Insurance from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Piper Sandler reissued a “neutral” rating and set a $9.00 price objective on shares of Heritage Insurance in a report on Monday, April 1st. Truist Financial boosted their price objective on Heritage Insurance from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Heritage Insurance in a report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential insurance in Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey, and New York; and licensed in the state of Pennsylvania, as well as personal residential and wind-only property insurance.