Brokerages Expect Kingstone Companies Inc (NASDAQ:KINS) to Announce $0.22 EPS

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Shares of Kingstone Companies Inc (NASDAQ:KINS) have been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 12 month consensus price target of $11.00 for the company and are anticipating that the company will post $0.22 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Kingstone Companies an industry rank of 107 out of 255 based on the ratings given to its competitors.

A number of analysts have recently issued reports on the company. ValuEngine raised Kingstone Companies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Zacks Investment Research lowered Kingstone Companies from a “hold” rating to a “sell” rating in a research report on Saturday, November 2nd.

Shares of NASDAQ:KINS opened at $8.79 on Friday. The business’s fifty day moving average price is $8.44 and its two-hundred day moving average price is $8.91. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.49 and a current ratio of 0.49. Kingstone Companies has a one year low of $7.50 and a one year high of $18.74. The stock has a market cap of $94.61 million, a PE ratio of 18.70 and a beta of 0.64.

Kingstone Companies (NASDAQ:KINS) last announced its earnings results on Thursday, August 8th. The insurance provider reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.25). Kingstone Companies had a negative return on equity of 3.77% and a negative net margin of 2.03%. The business had revenue of $34.61 million for the quarter, compared to analysts’ expectations of $35.40 million. As a group, equities research analysts predict that Kingstone Companies will post -0.32 earnings per share for the current fiscal year.

In other Kingstone Companies news, insider Barry Goldstein bought 4,500 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were acquired at an average cost of $8.22 per share, with a total value of $36,990.00. Following the completion of the transaction, the insider now owns 611,926 shares in the company, valued at $5,030,031.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have bought 12,950 shares of company stock worth $105,122. Corporate insiders own 8.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in KINS. Vanguard Group Inc. increased its holdings in Kingstone Companies by 3.2% in the second quarter. Vanguard Group Inc. now owns 505,522 shares of the insurance provider’s stock valued at $4,372,000 after buying an additional 15,809 shares during the last quarter. Foundry Partners LLC increased its holdings in Kingstone Companies by 25.5% in the second quarter. Foundry Partners LLC now owns 437,877 shares of the insurance provider’s stock valued at $3,788,000 after buying an additional 89,089 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Kingstone Companies by 35.0% in the second quarter. Renaissance Technologies LLC now owns 385,900 shares of the insurance provider’s stock valued at $3,338,000 after buying an additional 100,100 shares during the last quarter. Salzhauer Michael increased its holdings in Kingstone Companies by 42.8% in the second quarter. Salzhauer Michael now owns 83,434 shares of the insurance provider’s stock valued at $722,000 after buying an additional 25,000 shares during the last quarter. Finally, Monarch Partners Asset Management LLC increased its holdings in Kingstone Companies by 13.4% in the third quarter. Monarch Partners Asset Management LLC now owns 61,682 shares of the insurance provider’s stock valued at $526,000 after buying an additional 7,310 shares during the last quarter. 45.94% of the stock is currently owned by institutional investors and hedge funds.

About Kingstone Companies

Kingstone Companies, Inc, through its subsidiary, Kingstone Insurance Company, underwrites property and casualty insurance products to small businesses and individuals in New York. The company offers personal lines insurance products, including homeowners and dwelling fire multi-peril, cooperative/condominiums, renters, and personal umbrella policies.

See Also: What does a neutral rating on stocks mean?

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