Everest Re Group, Ltd. (NYSE:RE) Issues Quarterly Earnings Results
Everest Re Group, Ltd. (NYSE:RE) released its earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.24 by $0.27, Briefing.com reports. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the company posted $3.17 EPS.
Shares of Everest Re Group (RE) traded up 0.20% during mid-day trading on Friday, reaching $263.02. 659,477 shares of the company’s stock traded hands. The company has a 50 day moving average of $264.82 and a 200 day moving average of $246.85. Everest Re Group has a 12 month low of $183.04 and a 12 month high of $277.17. The company has a market cap of $10.80 billion, a price-to-earnings ratio of 9.02 and a beta of 0.63.
A number of analysts recently weighed in on the stock. Wells Fargo & Company reiterated a “hold” rating on shares of Everest Re Group in a research report on Monday, July 24th. Barclays PLC increased their price target on shares of Everest Re Group from $299.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. UBS AG reiterated a “neutral” rating and issued a $256.00 price target (up from $251.00) on shares of Everest Re Group in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, BidaskClub upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Everest Re Group has an average rating of “Hold” and a consensus price target of $250.25.
COPYRIGHT VIOLATION WARNING: “Everest Re Group, Ltd. (NYSE:RE) Issues Quarterly Earnings Results” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.thecerbatgem.com/2017/08/19/everest-re-group-ltd-nysere-posts-quarterly-earnings-results-beats-expectations-by-0-27-eps-updated-updated-updated.html.
About Everest Re Group
Everest Re Group, Ltd., through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Company operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.
Receive News & Stock Ratings for Everest Re Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everest Re Group Ltd. and related stocks with our FREE daily email newsletter.