Everest Re Group Ltd (RE) Expected to Announce Quarterly Sales of $1.96 Billion

Equities research analysts expect that Everest Re Group Ltd (NYSE:RE) will announce sales of $1.96 billion for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Everest Re Group’s earnings, with estimates ranging from $1.90 billion to $2.03 billion. Everest Re Group reported sales of $1.77 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.7%. The firm is expected to report its next quarterly earnings results on Wednesday, April 24th.

On average, analysts expect that Everest Re Group will report full year sales of $8.41 billion for the current fiscal year, with estimates ranging from $8.36 billion to $8.44 billion. For the next fiscal year, analysts anticipate that the business will post sales of $9.07 billion, with estimates ranging from $8.97 billion to $9.25 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Everest Re Group.

Everest Re Group (NYSE:RE) last announced its quarterly earnings results on Monday, February 11th. The insurance provider reported ($5.89) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $6.04 by ($11.93). Everest Re Group had a return on equity of 2.33% and a net margin of 1.40%. The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $2.03 billion.

A number of analysts recently issued reports on RE shares. Deutsche Bank lowered their price target on shares of Everest Re Group from $250.00 to $247.00 and set a “buy” rating on the stock in a report on Tuesday, November 20th. Zacks Investment Research downgraded shares of Everest Re Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Morgan Stanley lowered their price target on shares of Everest Re Group from $243.00 to $232.00 and set an “equal weight” rating on the stock in a report on Thursday, January 3rd. Finally, Wells Fargo & Co reissued a “hold” rating and set a $235.00 price target on shares of Everest Re Group in a report on Thursday, January 24th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $247.63.

NYSE RE traded down $1.36 during mid-day trading on Wednesday, reaching $216.78. 281,717 shares of the stock were exchanged, compared to its average volume of 278,533. Everest Re Group has a 1 year low of $201.09 and a 1 year high of $264.88. The company has a market capitalization of $9.10 billion, a PE ratio of 46.62, a price-to-earnings-growth ratio of 0.97 and a beta of 0.33. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.37 and a current ratio of 0.31.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Tuesday, March 5th. Everest Re Group’s payout ratio is 120.43%.

In other Everest Re Group news, Director Roger M. Singer sold 900 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $223.69, for a total transaction of $201,321.00. Following the transaction, the director now directly owns 13,432 shares of the company’s stock, valued at $3,004,604.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of RE. Strs Ohio purchased a new position in shares of Everest Re Group in the third quarter worth about $542,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Everest Re Group by 1.1% in the third quarter. State Board of Administration of Florida Retirement System now owns 58,563 shares of the insurance provider’s stock worth $13,380,000 after buying an additional 627 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Everest Re Group by 29.8% in the third quarter. Victory Capital Management Inc. now owns 2,042 shares of the insurance provider’s stock worth $467,000 after buying an additional 469 shares in the last quarter. Cadence Capital Management LLC lifted its stake in shares of Everest Re Group by 26.3% in the third quarter. Cadence Capital Management LLC now owns 4,215 shares of the insurance provider’s stock worth $963,000 after buying an additional 877 shares in the last quarter. Finally, Unigestion Holding SA lifted its stake in shares of Everest Re Group by 7.9% in the third quarter. Unigestion Holding SA now owns 212,934 shares of the insurance provider’s stock worth $48,649,000 after buying an additional 15,662 shares in the last quarter. 92.72% of the stock is currently owned by institutional investors and hedge funds.

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 Unites States.

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