Wall Street brokerages expect Everest Re Group Ltd (NYSE:RE) to post earnings per share (EPS) of $3.33 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Everest Re Group’s earnings. The lowest EPS estimate is $2.51 and the highest is $4.03. Everest Re Group reported earnings per share of $4.09 in the same quarter last year, which would suggest a negative year-over-year growth rate of 18.6%. The firm is expected to issue its next earnings report on Monday, November 4th.
On average, analysts expect that Everest Re Group will report full-year earnings of $24.94 per share for the current financial year, with EPS estimates ranging from $23.60 to $25.97. For the next year, analysts forecast that the company will post earnings of $24.48 per share, with EPS estimates ranging from $23.60 to $25.40. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Everest Re Group.
Everest Re Group (NYSE:RE) last announced its quarterly earnings data on Monday, July 29th. The insurance provider reported $7.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $6.66 by $1.19. Everest Re Group had a net margin of 6.67% and a return on equity of 6.37%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the business earned $0.98 EPS. The company’s revenue was up 6.7% on a year-over-year basis.
In related news, Director Meryl D. Hartzband purchased 500 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $242.31 per share, for a total transaction of $121,155.00. Following the purchase, the director now directly owns 9,570 shares of the company’s stock, valued at $2,318,906.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John P. Doucette sold 5,000 shares of Everest Re Group stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $251.97, for a total transaction of $1,259,850.00. Following the sale, the chief executive officer now owns 22,747 shares in the company, valued at $5,731,561.59. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in RE. Oakworth Capital Inc. acquired a new stake in Everest Re Group during the 2nd quarter worth $34,000. Point72 Hong Kong Ltd acquired a new stake in Everest Re Group during the 2nd quarter worth $44,000. CSat Investment Advisory L.P. raised its stake in Everest Re Group by 31.6% during the 2nd quarter. CSat Investment Advisory L.P. now owns 200 shares of the insurance provider’s stock worth $50,000 after acquiring an additional 48 shares in the last quarter. Advisory Services Network LLC purchased a new position in Everest Re Group during the 2nd quarter worth $51,000. Finally, Ossiam purchased a new position in Everest Re Group during the 2nd quarter worth $53,000. Hedge funds and other institutional investors own 90.59% of the company’s stock.
Shares of RE traded up $2.54 during midday trading on Friday, reaching $249.29. The stock had a trading volume of 169,500 shares, compared to its average volume of 270,373. Everest Re Group has a 1-year low of $201.09 and a 1-year high of $260.51. The company’s fifty day simple moving average is $252.03 and its two-hundred day simple moving average is $236.81. The company has a market cap of $10.05 billion, a price-to-earnings ratio of 53.61, a PEG ratio of 0.99 and a beta of 0.25. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.37 and a quick ratio of 0.37.
Everest Re Group Company Profile
Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four segments: U.S. Reinsurance, International, Bermuda, and Insurance. The U.S. Reinsurance segment writes property and casualty reinsurance; and specialty lines of business, including marine, aviation, surety, and accident and health insurance through reinsurance brokers, as well as directly with ceding companies in the United States.
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