Brown & Brown, Inc. (BRO) Expected to Announce Quarterly Sales of $596.66 Million

Brokerages expect Brown & Brown, Inc. (NYSE:BRO) to announce $596.66 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Brown & Brown’s earnings, with estimates ranging from $586.99 million to $606.80 million. Brown & Brown posted sales of $501.50 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 19%. The company is expected to issue its next earnings report after the market closes on Monday, April 22nd.

On average, analysts expect that Brown & Brown will report full-year sales of $2.35 billion for the current fiscal year, with estimates ranging from $2.34 billion to $2.36 billion. For the next fiscal year, analysts expect that the company will report sales of $2.51 billion, with estimates ranging from $2.49 billion to $2.53 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Brown & Brown.

Brown & Brown (NYSE:BRO) last posted its earnings results on Monday, January 28th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Brown & Brown had a return on equity of 12.03% and a net margin of 17.09%. The business had revenue of $508.70 million for the quarter, compared to the consensus estimate of $503.52 million. During the same period in the previous year, the company posted $0.24 earnings per share. Brown & Brown’s revenue for the quarter was up 7.5% compared to the same quarter last year.

A number of analysts have recently commented on the company. Zacks Investment Research raised Brown & Brown from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Monday, December 31st. ValuEngine upgraded Brown & Brown from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $29.30.

Brown & Brown stock traded down $0.01 during mid-day trading on Friday, hitting $30.72. 13,859 shares of the company’s stock traded hands, compared to its average volume of 776,912. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.95 and a quick ratio of 0.95. Brown & Brown has a fifty-two week low of $25.72 and a fifty-two week high of $31.55. The company has a market capitalization of $8.60 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 2.31 and a beta of 0.73.

In other Brown & Brown news, EVP Anthony T. Strianese sold 35,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $29.17, for a total transaction of $1,020,950.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Robert W. Lloyd sold 10,601 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $29.29, for a total value of $310,503.29. The disclosure for this sale can be found here. 16.69% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fenimore Asset Management Inc. increased its holdings in shares of Brown & Brown by 0.7% during the 4th quarter. Fenimore Asset Management Inc. now owns 2,824,303 shares of the financial services provider’s stock worth $77,838,000 after buying an additional 20,132 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Brown & Brown by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,093,296 shares of the financial services provider’s stock worth $57,689,000 after purchasing an additional 26,343 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of Brown & Brown by 16.7% during the 3rd quarter. Teachers Advisors LLC now owns 391,717 shares of the financial services provider’s stock worth $11,583,000 after purchasing an additional 56,196 shares during the last quarter. Veritable L.P. lifted its position in shares of Brown & Brown by 16.4% during the 3rd quarter. Veritable L.P. now owns 27,123 shares of the financial services provider’s stock worth $802,000 after purchasing an additional 3,813 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Brown & Brown by 3.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,518 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 626 shares during the last quarter. 72.24% of the stock is currently owned by institutional investors and hedge funds.

Brown & Brown Company Profile

Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.

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Earnings History and Estimates for Brown & Brown (NYSE:BRO)

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