$0.74 Earnings Per Share Expected for W.R. Berkley Corporation (WRB) This Quarter
Brokerages predict that W.R. Berkley Corporation (NYSE:WRB) will post $0.74 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for W.R. Berkley Corporation’s earnings. The highest EPS estimate is $0.77 and the lowest is $0.70. W.R. Berkley Corporation reported earnings of $0.88 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 15.9%. The business is expected to report its next earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that W.R. Berkley Corporation will report full-year earnings of $2.91 per share for the current financial year, with EPS estimates ranging from $2.90 to $2.95. For the next fiscal year, analysts anticipate that the business will report earnings of $3.31 per share, with EPS estimates ranging from $3.12 to $3.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for W.R. Berkley Corporation.
W.R. Berkley Corporation (NYSE:WRB) last released its quarterly earnings data on Tuesday, July 25th. The insurance provider reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.10. W.R. Berkley Corporation had a net margin of 7.86% and a return on equity of 7.58%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the business earned $0.82 EPS. The company’s revenue was up .6% compared to the same quarter last year.
WRB has been the subject of several research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $67.00 target price on shares of W.R. Berkley Corporation in a research report on Wednesday, May 17th. Zacks Investment Research upgraded shares of W.R. Berkley Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 30th. BidaskClub lowered shares of W.R. Berkley Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Morgan Stanley reiterated an “equal weight” rating and issued a $70.00 target price (up from $68.00) on shares of W.R. Berkley Corporation in a research report on Friday, July 7th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of W.R. Berkley Corporation in a research report on Wednesday, July 26th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. W.R. Berkley Corporation presently has a consensus rating of “Hold” and an average price target of $65.25.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its position in W.R. Berkley Corporation by 683.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,566 shares of the insurance provider’s stock valued at $108,000 after buying an additional 1,366 shares during the period. NEXT Financial Group Inc boosted its position in W.R. Berkley Corporation by 243.9% during the second quarter. NEXT Financial Group Inc now owns 1,809 shares of the insurance provider’s stock valued at $125,000 after buying an additional 1,283 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its position in W.R. Berkley Corporation by 46.8% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,881 shares of the insurance provider’s stock valued at $133,000 after buying an additional 600 shares during the period. IFP Advisors Inc boosted its position in W.R. Berkley Corporation by 218.0% during the first quarter. IFP Advisors Inc now owns 2,064 shares of the insurance provider’s stock valued at $146,000 after buying an additional 1,415 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in W.R. Berkley Corporation by 17.4% during the first quarter. Daiwa Securities Group Inc. now owns 2,700 shares of the insurance provider’s stock valued at $191,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 71.18% of the company’s stock.
W.R. Berkley Corporation (NYSE WRB) traded up 2.23% during midday trading on Friday, hitting $65.93. The company had a trading volume of 614,960 shares. The firm has a market capitalization of $8.00 billion, a P/E ratio of 14.00 and a beta of 0.88. W.R. Berkley Corporation has a 52 week low of $55.55 and a 52 week high of $73.17. The firm’s 50 day moving average is $67.59 and its 200-day moving average is $68.86.
W.R. Berkley Corporation announced that its board has initiated a stock repurchase plan on Tuesday, August 8th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the insurance provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, September 19th. This represents a $0.56 annualized dividend and a yield of 0.85%. W.R. Berkley Corporation’s payout ratio is 11.84%.
About W.R. Berkley Corporation
W. R. Berkley Corporation is an insurance holding company. It operates through two segments: Insurance and Reinsurance-Global. The Insurance segment consists of its commercial insurance business operations, comprising excess and surplus lines, and admitted lines, throughout the United States, as well as its insurance business operations in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.
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