Equities analysts expect Brown & Brown, Inc. (NYSE:BRO) to report $481.61 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Brown & Brown’s earnings, with the highest sales estimate coming in at $493.50 million and the lowest estimate coming in at $464.50 million. Brown & Brown posted sales of $465.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.5%. The business is scheduled to report its next quarterly earnings results on Monday, April 16th.
According to Zacks, analysts expect that Brown & Brown will report full-year sales of $481.61 million for the current year, with estimates ranging from $1.90 billion to $1.96 billion. For the next year, analysts forecast that the business will post sales of $2.04 billion per share, with estimates ranging from $1.98 billion to $2.11 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Brown & Brown.
Brown & Brown (NYSE:BRO) last released its earnings results on Monday, January 22nd. The financial services provider reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.05. The firm had revenue of $474.30 million for the quarter, compared to the consensus estimate of $449.89 million. Brown & Brown had a return on equity of 11.19% and a net margin of 21.24%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 earnings per share.
Several institutional investors and hedge funds have recently modified their holdings of BRO. Parametric Portfolio Associates LLC grew its position in shares of Brown & Brown by 3.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 88,423 shares of the financial services provider’s stock worth $3,808,000 after acquiring an additional 2,756 shares in the last quarter. Employees Retirement System of Texas acquired a new position in shares of Brown & Brown in the 2nd quarter worth approximately $1,335,000. Janus Henderson Group PLC acquired a new position in shares of Brown & Brown in the 2nd quarter worth approximately $9,076,000. State Street Corp grew its position in shares of Brown & Brown by 1.7% in the 2nd quarter. State Street Corp now owns 5,807,711 shares of the financial services provider’s stock worth $250,140,000 after acquiring an additional 98,674 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Brown & Brown by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 169,543 shares of the financial services provider’s stock valued at $7,302,000 after purchasing an additional 3,200 shares during the period. Institutional investors own 72.63% of the company’s stock.
Brown & Brown (NYSE BRO) traded up $0.06 during trading on Monday, hitting $52.70. The stock had a trading volume of 449,178 shares, compared to its average volume of 948,726. The stock has a market cap of $7,269.85, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 2.20 and a beta of 0.74. The company has a current ratio of 0.94, a quick ratio of 0.97 and a debt-to-equity ratio of 0.33. Brown & Brown has a 52 week low of $41.10 and a 52 week high of $53.77.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were given a $0.15 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $0.60 annualized dividend and a dividend yield of 1.14%. Brown & Brown’s payout ratio is 21.43%.
About Brown & Brown
Brown & Brown, Inc is a diversified insurance agency, wholesale brokerage, insurance programs and service company. The Company markets and sells insurance products and services, in the property, casualty and employee benefits areas. It provides its customers with non-investment insurance contracts, as well as other customized risk management products and services.
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