ProAssurance Co. (PRA) Expected to Post Earnings of $0.40 Per Share

Equities research analysts expect ProAssurance Co. (NYSE:PRA) to announce earnings per share (EPS) of $0.40 for the current quarter, Zacks reports. Three analysts have provided estimates for ProAssurance’s earnings, with estimates ranging from $0.34 to $0.47. ProAssurance reported earnings of $0.45 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 11.1%. The business is scheduled to announce its next earnings results after the market closes on Tuesday, November 6th.

According to Zacks, analysts expect that ProAssurance will report full year earnings of $1.82 per share for the current financial year, with EPS estimates ranging from $1.75 to $1.90. For the next financial year, analysts forecast that the business will report earnings of $1.65 per share, with EPS estimates ranging from $1.60 to $1.70. Zacks’ EPS averages are a mean average based on a survey of analysts that cover ProAssurance.

ProAssurance (NYSE:PRA) last announced its quarterly earnings results on Tuesday, August 7th. The insurance provider reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.09. The company had revenue of $248.02 million during the quarter, compared to analysts’ expectations of $219.98 million. ProAssurance had a return on equity of 6.14% and a net margin of 9.67%. During the same period in the prior year, the business posted $0.40 EPS.

A number of analysts recently issued reports on the company. Zacks Investment Research raised ProAssurance from a “strong sell” rating to a “hold” rating in a research note on Friday, August 10th. ValuEngine raised ProAssurance from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Sandler O’Neill reissued a “hold” rating and set a $44.00 target price on shares of ProAssurance in a research note on Thursday, August 9th. Boenning Scattergood reissued a “hold” rating on shares of ProAssurance in a research note on Wednesday, August 8th. Finally, JMP Securities increased their target price on ProAssurance from $50.00 to $52.00 and gave the stock a “market outperform” rating in a research note on Friday, September 21st. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $50.50.

NYSE PRA opened at $43.41 on Tuesday. ProAssurance has a 52-week low of $34.95 and a 52-week high of $63.45. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market cap of $2.30 billion, a P/E ratio of 22.86 and a beta of 0.63.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 10th. Stockholders of record on Friday, September 28th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.24 annualized dividend and a dividend yield of 2.86%. ProAssurance’s dividend payout ratio is currently 61.39%.

Several institutional investors and hedge funds have recently modified their holdings of PRA. Russell Investments Group Ltd. grew its stake in shares of ProAssurance by 147.6% during the 1st quarter. Russell Investments Group Ltd. now owns 120,527 shares of the insurance provider’s stock worth $5,846,000 after acquiring an additional 71,850 shares in the last quarter. OppenheimerFunds Inc. grew its stake in shares of ProAssurance by 14.1% during the 1st quarter. OppenheimerFunds Inc. now owns 10,843 shares of the insurance provider’s stock worth $526,000 after acquiring an additional 1,341 shares in the last quarter. UBS Group AG grew its stake in shares of ProAssurance by 3.2% during the 1st quarter. UBS Group AG now owns 49,935 shares of the insurance provider’s stock worth $2,424,000 after acquiring an additional 1,527 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of ProAssurance by 39.7% during the 1st quarter. Cubist Systematic Strategies LLC now owns 5,886 shares of the insurance provider’s stock worth $286,000 after acquiring an additional 1,672 shares in the last quarter. Finally, Verition Fund Management LLC grew its stake in shares of ProAssurance by 41.5% during the 1st quarter. Verition Fund Management LLC now owns 10,347 shares of the insurance provider’s stock worth $502,000 after acquiring an additional 3,034 shares in the last quarter. 85.61% of the stock is owned by institutional investors.

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, and Lloyd's Syndicate segments. It offers 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 for employers, groups, and associations.

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Earnings History and Estimates for ProAssurance (NYSE:PRA)

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