ProAssurance (NYSE:PRA) Releases Earnings Results, Beats Estimates By $0.15 EPS

ProAssurance (NYSE:PRA) posted its earnings results on Thursday. The insurance provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.15, Briefing.com reports. The firm had revenue of $290.30 million during the quarter, compared to the consensus estimate of $235.61 million. ProAssurance had a negative net margin of 2.42% and a positive return on equity of 0.59%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS.

ProAssurance Stock Up 16.3 %

Shares of PRA traded up $1.88 during midday trading on Friday, hitting $13.42. The company had a trading volume of 590,019 shares, compared to its average volume of 291,682. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.38. ProAssurance has a 52 week low of $10.76 and a 52 week high of $19.25. The company’s 50 day moving average price is $12.29 and its 200 day moving average price is $12.98. The stock has a market cap of $684.58 million, a price-to-earnings ratio of -24.85 and a beta of 0.23.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JMP Securities dropped their price objective on shares of ProAssurance from $22.00 to $20.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 17th. Truist Financial upped their price target on shares of ProAssurance from $14.00 to $16.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, ProAssurance currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

ProAssurance Company Profile

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.