Zacks: Analysts Anticipate FedNat Holding (NASDAQ:FNHC) Will Post Quarterly Sales of $75.11 Million

Wall Street analysts expect FedNat Holding (NASDAQ:FNHC) to post $75.11 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for FedNat’s earnings. The highest sales estimate is $85.44 million and the lowest is $64.78 million. FedNat reported sales of $115.06 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 34.7%. The company is expected to issue its next quarterly earnings results after the market closes on Tuesday, May 4th.

According to Zacks, analysts expect that FedNat will report full year sales of $314.29 million for the current financial year, with estimates ranging from $276.79 million to $351.79 million. For the next financial year, analysts anticipate that the firm will post sales of $335.03 million, with estimates ranging from $293.83 million to $376.23 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover FedNat.

FedNat (NASDAQ:FNHC) last announced its earnings results on Monday, March 1st. The insurance provider reported ($1.96) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.65) by $0.69. The company had revenue of $76.05 million for the quarter, compared to analyst estimates of $89.89 million. FedNat had a negative return on equity of 23.37% and a negative net margin of 10.30%.

FNHC has been the subject of several research reports. Piper Sandler initiated coverage on shares of FedNat in a research note on Monday, April 5th. They issued an “overweight” rating and a $7.00 price target for the company. Zacks Investment Research downgraded shares of FedNat from a “hold” rating to a “sell” rating in a research note on Wednesday, March 17th.

NASDAQ FNHC traded down $0.10 on Tuesday, reaching $5.14. The stock had a trading volume of 193,669 shares, compared to its average volume of 151,371. The firm has a market capitalization of $92.14 million, a price-to-earnings ratio of -1.49 and a beta of 0.90. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.49. FedNat has a 12-month low of $4.24 and a 12-month high of $13.67. The stock has a fifty day moving average price of $4.76 and a two-hundred day moving average price of $5.62.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Susquehanna International Group LLP boosted its stake in FedNat by 165.8% in the fourth quarter. Susquehanna International Group LLP now owns 36,216 shares of the insurance provider’s stock valued at $214,000 after acquiring an additional 22,592 shares in the last quarter. Morgan Stanley raised its holdings in shares of FedNat by 1,037.8% in the third quarter. Morgan Stanley now owns 45,728 shares of the insurance provider’s stock valued at $288,000 after buying an additional 41,709 shares during the last quarter. BlackRock Inc. raised its holdings in FedNat by 1.3% during the fourth quarter. BlackRock Inc. now owns 1,062,443 shares of the insurance provider’s stock worth $6,290,000 after purchasing an additional 14,001 shares in the last quarter. Unison Advisors LLC raised its holdings in FedNat by 82.8% during the fourth quarter. Unison Advisors LLC now owns 24,486 shares of the insurance provider’s stock worth $145,000 after purchasing an additional 11,089 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in FedNat by 5.7% during the fourth quarter. Renaissance Technologies LLC now owns 852,388 shares of the insurance provider’s stock worth $5,046,000 after purchasing an additional 46,288 shares in the last quarter. Institutional investors own 47.24% of the company’s stock.

About FedNat

FedNat Holding Company, together with its subsidiaries, engages in the insurance underwriting, distribution, and claims processing business in Florida, Louisiana, Texas, Georgia, South Carolina, Alabama, and Mississippi. The company is involved in the homeowners and casualty insurance; and personal automobile insurance businesses, as well as commercial general liability and federal flood businesses.

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Earnings History and Estimates for FedNat (NASDAQ:FNHC)

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