W. R. Berkley Corp (NYSE:WRB) Expected to Announce Quarterly Sales of $1.91 Billion

Equities analysts predict that W. R. Berkley Corp (NYSE:WRB) will report sales of $1.91 billion for the current fiscal quarter, Zacks reports. Two analysts have made estimates for W. R. Berkley’s earnings. The lowest sales estimate is $1.89 billion and the highest is $1.94 billion. W. R. Berkley reported sales of $1.92 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.5%. The company is scheduled to report its next earnings report on Tuesday, October 22nd.

According to Zacks, analysts expect that W. R. Berkley will report full year sales of $7.60 billion for the current fiscal year, with estimates ranging from $7.51 billion to $7.73 billion. For the next fiscal year, analysts forecast that the company will report sales of $7.96 billion, with estimates ranging from $7.70 billion to $8.24 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for W. R. Berkley.

W. R. Berkley (NYSE:WRB) last announced its earnings results on Tuesday, July 23rd. The insurance provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.64 by $0.18. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. W. R. Berkley had a return on equity of 10.55% and a net margin of 8.81%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $1.40 EPS.



Several brokerages recently commented on WRB. Zacks Investment Research upgraded W. R. Berkley from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Saturday, July 27th. Deutsche Bank downgraded W. R. Berkley from a “hold” rating to a “sell” rating and set a $65.71 target price on the stock. in a report on Wednesday, June 26th. Royal Bank of Canada raised their target price on W. R. Berkley to $68.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on W. R. Berkley from $63.00 to $73.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, UBS Group lifted their price objective on W. R. Berkley from $53.00 to $56.00 and gave the stock a “sell” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $65.40.

In other W. R. Berkley news, Director Mark Ellwood Brockbank sold 77,000 shares of W. R. Berkley stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $66.61, for a total transaction of $5,128,970.00. Following the sale, the director now directly owns 51,329 shares in the company, valued at approximately $3,419,024.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.70% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Krane Funds Advisors LLC bought a new stake in shares of W. R. Berkley in the 2nd quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC bought a new stake in shares of W. R. Berkley in the 2nd quarter valued at approximately $27,000. Hanson McClain Inc. increased its holdings in shares of W. R. Berkley by 50.0% in the 2nd quarter. Hanson McClain Inc. now owns 525 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 175 shares during the last quarter. Johnson Financial Group Inc. increased its holdings in shares of W. R. Berkley by 49.9% in the 2nd quarter. Johnson Financial Group Inc. now owns 553 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 184 shares during the last quarter. Finally, Asset Dedication LLC increased its holdings in shares of W. R. Berkley by 49.9% in the 2nd quarter. Asset Dedication LLC now owns 571 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 190 shares during the last quarter. Institutional investors and hedge funds own 72.63% of the company’s stock.

Shares of NYSE:WRB traded up $0.90 during mid-day trading on Tuesday, hitting $71.91. 5,760 shares of the company traded hands, compared to its average volume of 625,203. The firm has a market cap of $13.21 billion, a P/E ratio of 26.91, a PEG ratio of 2.84 and a beta of 0.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.48 and a current ratio of 0.48. W. R. Berkley has a 52-week low of $45.91 and a 52-week high of $72.62. The firm’s 50 day simple moving average is $68.56 and its 200 day simple moving average is $69.95.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 19th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $0.44 annualized dividend and a yield of 0.61%. W. R. Berkley’s dividend payout ratio is presently 16.48%.

W. R. Berkley Company Profile

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.

Featured Story: What is Liquidity?

Get a free copy of the Zacks research report on W. R. Berkley (WRB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for W. R. Berkley (NYSE:WRB)

Receive News & Ratings for W. R. Berkley Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W. R. Berkley and related companies with MarketBeat.com's FREE daily email newsletter.