Everest Re Group, Ltd. (NYSE:RE) Expected to Announce Earnings of $5.91 Per Share


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Equities analysts predict that Everest Re Group, Ltd. (NYSE:RE) will report $5.91 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Everest Re Group’s earnings, with the highest EPS estimate coming in at $7.14 and the lowest estimate coming in at $4.83. Everest Re Group posted earnings per share of $4.03 during the same quarter last year, which would suggest a positive year-over-year growth rate of 46.7%. The company is expected to announce its next quarterly earnings report after the market closes on Wednesday, April 28th.

According to Zacks, analysts expect that Everest Re Group will report full-year earnings of $24.87 per share for the current year, with EPS estimates ranging from $22.79 to $27.52. For the next year, analysts anticipate that the firm will report earnings of $29.84 per share, with EPS estimates ranging from $28.40 to $31.97. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Everest Re Group.

Everest Re Group (NYSE:RE) last released its earnings results on Sunday, February 7th. The insurance provider reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.09). Everest Re Group had a return on equity of 5.19% and a net margin of 7.38%. The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the prior year, the company posted $3.20 earnings per share.

RE has been the topic of a number of recent research reports. Citigroup increased their target price on Everest Re Group from $275.00 to $287.00 in a research note on Wednesday, March 31st. Deutsche Bank Aktiengesellschaft raised Everest Re Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $245.00 to $305.00 in a research note on Sunday, March 28th. Zacks Investment Research cut Everest Re Group from a “hold” rating to a “sell” rating and set a $262.00 target price on the stock. in a research note on Monday, March 8th. Finally, Morgan Stanley raised Everest Re Group from an “equal weight” rating to an “overweight” rating and set a $316.00 price objective on the stock in a research report on Tuesday, March 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $271.40.

A number of large investors have recently made changes to their positions in RE. Acadian Asset Management LLC boosted its position in Everest Re Group by 15.5% in the third quarter. Acadian Asset Management LLC now owns 388 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 52 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Everest Re Group in the third quarter worth about $3,832,000. Great West Life Assurance Co. Can raised its stake in shares of Everest Re Group by 16.9% in the third quarter. Great West Life Assurance Co. Can now owns 61,133 shares of the insurance provider’s stock worth $10,259,000 after buying an additional 8,847 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Everest Re Group by 9.7% in the third quarter. UBS Asset Management Americas Inc. now owns 267,068 shares of the insurance provider’s stock worth $52,757,000 after buying an additional 23,691 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of Everest Re Group by 1.4% in the third quarter. ProShare Advisors LLC now owns 12,920 shares of the insurance provider’s stock worth $2,552,000 after buying an additional 174 shares during the period. 94.02% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE RE traded down $3.36 during trading on Monday, reaching $252.40. The company had a trading volume of 724 shares, compared to its average volume of 254,174. Everest Re Group has a 12-month low of $157.32 and a 12-month high of $256.92. The stock has a market cap of $10.09 billion, a PE ratio of 15.44, a P/E/G ratio of 1.10 and a beta of 0.58. The business’s 50-day moving average is $246.76 and its 200 day moving average is $228.22. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.07.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Wednesday, March 17th were given a $1.55 dividend. The ex-dividend date was Tuesday, March 16th. This represents a $6.20 annualized dividend and a yield of 2.46%. Everest Re Group’s payout ratio is 29.05%.

About Everest Re Group

Everest Re Group Ltd. is a holding company, which engages in the provision of reinsurance and insurance services. It operates through the following 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 business, on both a treaty and facultative basis, through reinsurance brokers, as well as directly with ceding companies primarily within the U.S.

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