Bowhead Specialty (NYSE:BOW) Issues Q3 Earnings Guidance

Bowhead Specialty (NYSE:BOW) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.36-0.39 for the period, compared to the consensus earnings per share estimate of $0.32.

Bowhead Specialty Price Performance

Shares of BOW traded up $0.12 during trading hours on Wednesday, hitting $29.27. The stock had a trading volume of 21,770 shares, compared to its average volume of 154,307. The business’s 50 day moving average is $29.35. Bowhead Specialty has a 1-year low of $22.14 and a 1-year high of $32.55.

Bowhead Specialty (NYSE:BOW) last released its earnings results on Tuesday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $98.90 million during the quarter, compared to the consensus estimate of $94.28 million. The firm’s revenue was up 51.0% compared to the same quarter last year. Analysts expect that Bowhead Specialty will post 1.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BOW. JMP Securities increased their price objective on Bowhead Specialty from $31.00 to $32.00 and gave the company a “market outperform” rating in a report on Tuesday, October 15th. Royal Bank of Canada reissued an “outperform” rating and set a $32.00 price objective on shares of Bowhead Specialty in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $29.40.

About Bowhead Specialty

Bowhead Specialty Holdings Inc provides specialty property and casualty insurance products in the United States. It underwrites casualty insurance solutions for risks in the construction, distribution, heavy manufacturing, real estate, and hospitality segments; professional liability insurance solutions for financial institutions, private and public directors and officers liability insurance, errors and omissions liability insurance, and cyber segments; and healthcare solutions for hospitals, senior care providers, managed care organizations, miscellaneous medical facilities, and healthcare management liability segments.