Everest Re Group Ltd (NYSE:RE) Expected to Post Earnings of $3.33 Per Share

Wall Street analysts expect Everest Re Group Ltd (NYSE:RE) to announce earnings of $3.33 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Everest Re Group’s earnings. The lowest EPS estimate is $2.51 and the highest is $4.03. Everest Re Group reported earnings per share of $4.09 during the same quarter last year, which would suggest a negative year-over-year growth rate of 18.6%. The company is expected to issue its next earnings results on Monday, November 4th.

According to Zacks, analysts expect that Everest Re Group will report full-year earnings of $24.94 per share for the current financial year, with EPS estimates ranging from $23.60 to $25.97. For the next financial year, analysts expect that the company will post earnings of $24.48 per share, with EPS estimates ranging from $23.60 to $25.40. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Everest Re Group.

Everest Re Group (NYSE:RE) last announced its quarterly earnings results on Monday, July 29th. The insurance provider reported $7.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.66 by $1.19. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.96 billion. Everest Re Group had a net margin of 6.67% and a return on equity of 6.37%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS.

Several brokerages recently issued reports on RE. Zacks Investment Research lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Barclays set a $300.00 price target on shares of Everest Re Group and gave the company a “buy” rating in a report on Monday. ValuEngine downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley cut their target price on shares of Everest Re Group from $265.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Finally, UBS Group lifted their target price on shares of Everest Re Group from $252.00 to $257.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $254.71.

In other Everest Re Group news, Director Meryl D. Hartzband bought 500 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $242.31 per share, for a total transaction of $121,155.00. Following the transaction, the director now directly owns 9,570 shares in the company, valued at $2,318,906.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John P. Doucette sold 5,000 shares of Everest Re Group stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $251.97, for a total transaction of $1,259,850.00. Following the sale, the chief executive officer now owns 22,747 shares in the company, valued at $5,731,561.59. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund increased its holdings in shares of Everest Re Group by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 10,447 shares of the insurance provider’s stock valued at $2,256,000 after acquiring an additional 42 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its holdings in shares of Everest Re Group by 2.4% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 1,803 shares of the insurance provider’s stock valued at $389,000 after purchasing an additional 43 shares during the last quarter. 6 Meridian lifted its holdings in shares of Everest Re Group by 2.0% in the 2nd quarter. 6 Meridian now owns 2,267 shares of the insurance provider’s stock valued at $560,000 after purchasing an additional 45 shares during the last quarter. ETF Managers Group LLC lifted its holdings in shares of Everest Re Group by 9.3% in the 1st quarter. ETF Managers Group LLC now owns 566 shares of the insurance provider’s stock valued at $122,000 after purchasing an additional 48 shares during the last quarter. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of Everest Re Group by 31.6% in the 2nd quarter. CSat Investment Advisory L.P. now owns 200 shares of the insurance provider’s stock valued at $50,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 90.59% of the company’s stock.

Shares of Everest Re Group stock traded up $2.63 during midday trading on Friday, hitting $249.38. 61,738 shares of the company traded hands, compared to its average volume of 275,324. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 53.63, a PEG ratio of 1.01 and a beta of 0.25. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.37 and a current ratio of 0.37. The firm’s fifty day moving average price is $251.93 and its 200-day moving average price is $236.75. Everest Re Group has a 12 month low of $201.09 and a 12 month high of $260.51.

Everest Re Group Company Profile

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four 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 insurance through reinsurance brokers, as well as directly with ceding companies in the United States.

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Earnings History and Estimates for Everest Re Group (NYSE:RE)

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