Analysts Anticipate ProAssurance Corporation (PRA) to Announce $0.64 EPS

Wall Street brokerages predict that ProAssurance Corporation (NYSE:PRA) will announce earnings of $0.64 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for ProAssurance Corporation’s earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.68. ProAssurance Corporation posted earnings per share of $0.83 during the same quarter last year, which indicates a negative year-over-year growth rate of 22.9%. The company is expected to report its next earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that ProAssurance Corporation will report full-year earnings of $2.07 per share for the current year, with EPS estimates ranging from $2.00 to $2.15. For the next financial year, analysts anticipate that the firm will post earnings of $2.10 per share, with EPS estimates ranging from $2.05 to $2.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover ProAssurance Corporation.

ProAssurance Corporation (NYSE:PRA) last issued its earnings results on Monday, November 6th. The insurance provider reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.09. The business had revenue of $228.50 million for the quarter, compared to the consensus estimate of $215.12 million. ProAssurance Corporation had a net margin of 16.18% and a return on equity of 6.75%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 earnings per share.

PRA has been the topic of a number of recent analyst reports. Buckingham Research initiated coverage on shares of ProAssurance Corporation in a report on Monday, September 11th. They set a “neutral” rating and a $54.00 target price on the stock. BidaskClub downgraded shares of ProAssurance Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Keefe, Bruyette & Woods initiated coverage on shares of ProAssurance Corporation in a report on Monday, July 17th. They set a “market perform” rating and a $61.00 target price on the stock. Zacks Investment Research downgraded shares of ProAssurance Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Boenning Scattergood restated a “hold” rating on shares of ProAssurance Corporation in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. ProAssurance Corporation currently has an average rating of “Hold” and an average target price of $60.75.

In related news, insider Neil Frank B. O acquired 2,500 shares of ProAssurance Corporation stock in a transaction on Friday, August 18th. The stock was purchased at an average cost of $54.50 per share, with a total value of $136,250.00. Following the completion of the transaction, the insider now directly owns 104,431 shares in the company, valued at approximately $5,691,489.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in PRA. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ProAssurance Corporation by 8.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,067 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 161 shares during the period. First Quadrant L P CA boosted its position in ProAssurance Corporation by 124.1% during the second quarter. First Quadrant L P CA now owns 2,465 shares of the insurance provider’s stock worth $150,000 after purchasing an additional 1,365 shares during the period. Flinton Capital Management LLC boosted its position in ProAssurance Corporation by 55.3% during the second quarter. Flinton Capital Management LLC now owns 2,560 shares of the insurance provider’s stock worth $156,000 after purchasing an additional 912 shares during the period. Riverhead Capital Management LLC boosted its position in ProAssurance Corporation by 60.8% during the second quarter. Riverhead Capital Management LLC now owns 2,895 shares of the insurance provider’s stock worth $176,000 after purchasing an additional 1,095 shares during the period. Finally, Pacad Investment Ltd. boosted its position in ProAssurance Corporation by 47.6% during the second quarter. Pacad Investment Ltd. now owns 3,100 shares of the insurance provider’s stock worth $188,000 after purchasing an additional 1,000 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Shares of ProAssurance Corporation (NYSE:PRA) remained flat at $$60.40 on Monday. The company’s stock had a trading volume of 138,600 shares, compared to its average volume of 153,098. The firm has a market capitalization of $3,230.00, a price-to-earnings ratio of 26.26 and a beta of 0.54. ProAssurance Corporation has a 12-month low of $50.70 and a 12-month high of $63.53. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

WARNING: “Analysts Anticipate ProAssurance Corporation (PRA) to Announce $0.64 EPS” was published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this piece on another site, it was stolen and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://sportsperspectives.com/2017/11/13/analysts-anticipate-proassurance-corporation-pra-to-announce-0-64-eps.html.

ProAssurance Corporation Company Profile

ProAssurance Corporation (ProAssurance) is a holding company for property and casualty insurance companies. The Company provides professional liability insurance for healthcare professionals and facilities, professional liability insurance for attorneys, liability insurance for medical technology and life sciences risks, and workers’ compensation insurance.

Get a free copy of the Zacks research report on ProAssurance Corporation (PRA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for ProAssurance Corporation (NYSE:PRA)

Receive News & Ratings for ProAssurance Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProAssurance Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply