Zacks: Brokerages Anticipate W. R. Berkley Corp (WRB) to Announce $0.89 EPS

Analysts expect that W. R. Berkley Corp (NYSE:WRB) will report earnings per share (EPS) of $0.89 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for W. R. Berkley’s earnings, with estimates ranging from $0.76 to $0.95. W. R. Berkley reported earnings per share of $0.76 in the same quarter last year, which would suggest a positive year over year growth rate of 17.1%. The business is scheduled to announce its next quarterly earnings results on Tuesday, January 29th.

On average, analysts expect that W. R. Berkley will report full year earnings of $4.03 per share for the current financial year, with EPS estimates ranging from $4.00 to $4.07. For the next fiscal year, analysts anticipate that the business will report earnings of $3.82 per share, with EPS estimates ranging from $3.74 to $3.90. Zacks’ earnings per share averages are an average based on a survey of analysts that follow W. R. Berkley.

W. R. Berkley (NYSE:WRB) last issued its earnings results on Tuesday, October 23rd. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.28. W. R. Berkley had a net margin of 8.64% and a return on equity of 9.03%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the prior year, the business posted $1.26 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis.

WRB has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of W. R. Berkley from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Thursday, September 27th. Credit Suisse Group initiated coverage on shares of W. R. Berkley in a report on Tuesday, August 7th. They issued a “neutral” rating and a $78.00 target price for the company. Finally, Boenning Scattergood restated a “hold” rating on shares of W. R. Berkley in a report on Wednesday, July 25th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.60.

Hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. raised its position in W. R. Berkley by 0.7% in the 2nd quarter. American International Group Inc. now owns 201,143 shares of the insurance provider’s stock valued at $14,565,000 after purchasing an additional 1,361 shares during the last quarter. Carillon Tower Advisers Inc. raised its position in W. R. Berkley by 44.9% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 209,325 shares of the insurance provider’s stock valued at $15,157,000 after purchasing an additional 64,850 shares during the last quarter. Atria Investments LLC purchased a new stake in W. R. Berkley in the 3rd quarter valued at $269,000. California Public Employees Retirement System raised its position in W. R. Berkley by 26.0% in the 2nd quarter. California Public Employees Retirement System now owns 338,512 shares of the insurance provider’s stock valued at $24,512,000 after purchasing an additional 69,949 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its position in W. R. Berkley by 4.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 82,329 shares of the insurance provider’s stock valued at $5,961,000 after purchasing an additional 3,462 shares during the last quarter. Hedge funds and other institutional investors own 72.15% of the company’s stock.

Shares of W. R. Berkley stock traded up $1.27 during trading hours on Friday, hitting $78.45. The company had a trading volume of 443,100 shares, compared to its average volume of 376,879. W. R. Berkley has a twelve month low of $65.92 and a twelve month high of $80.68. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The stock has a market cap of $9.43 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 2.17 and a beta of 0.83.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Wednesday, November 28th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, November 27th. This represents a $0.60 annualized dividend and a yield of 0.76%. W. R. Berkley’s dividend payout ratio (DPR) is 24.39%.

W. R. Berkley Company Profile

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.

See Also: How to Calculate Compound Annual Growth Rate (CAGR)

Get a free copy of the Zacks research report on W. R. Berkley (WRB)

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

Earnings History and Estimates for W. R. Berkley (NYSE:WRB)

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

Leave a Reply