Zacks: Analysts Anticipate Arch Capital Group Ltd. (ACGL) Will Announce Quarterly Sales of $1.14 Billion
Brokerages forecast that Arch Capital Group Ltd. (NASDAQ:ACGL) will announce $1.14 billion in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Arch Capital Group’s earnings. The lowest sales estimate is $1.13 billion and the highest is $1.14 billion. Arch Capital Group posted sales of $1.08 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.6%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, October 25th.
On average, analysts expect that Arch Capital Group will report full year sales of $1.14 billion for the current year, with estimates ranging from $4.54 billion to $5.02 billion. For the next year, analysts forecast that the business will report sales of $4.66 billion per share, with estimates ranging from $4.61 billion to $4.72 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Arch Capital Group.
Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Wednesday, July 26th. The insurance provider reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.28 billion. Arch Capital Group had a return on equity of 8.76% and a net margin of 15.65%. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the business posted $1.13 EPS.
ACGL has been the topic of a number of recent analyst reports. Wells Fargo & Company reiterated a “hold” rating on shares of Arch Capital Group in a report on Wednesday, June 7th. BidaskClub downgraded shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $95.00 price target on shares of Arch Capital Group in a research report on Tuesday, July 4th. Buckingham Research initiated coverage on shares of Arch Capital Group in a research report on Monday, September 11th. They issued a “buy” rating and a $106.00 price target on the stock. Finally, UBS AG decreased their price target on shares of Arch Capital Group from $114.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Arch Capital Group has a consensus rating of “Hold” and a consensus price target of $98.13.
In other news, CEO Constantine Iordanou sold 50,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $97.88, for a total value of $4,894,000.00. Following the sale, the chief executive officer now directly owns 171,901 shares of the company’s stock, valued at approximately $16,825,669.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP W Preston Hutchings sold 12,500 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $96.81, for a total transaction of $1,210,125.00. Following the completion of the sale, the senior vice president now directly owns 39,411 shares in the company, valued at $3,815,378.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,579 shares of company stock valued at $18,756,983. 6.60% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its stake in shares of Arch Capital Group by 0.4% in the 2nd quarter. Parallel Advisors LLC now owns 1,356 shares of the insurance provider’s stock valued at $132,000 after purchasing an additional 6 shares during the period. Capital One National Association raised its position in shares of Arch Capital Group by 0.3% in the second quarter. Capital One National Association now owns 2,263 shares of the insurance provider’s stock valued at $211,000 after buying an additional 7 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Arch Capital Group by 0.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,618 shares of the insurance provider’s stock valued at $248,000 after buying an additional 22 shares during the last quarter. Gateway Investment Advisers LLC raised its position in shares of Arch Capital Group by 0.9% in the second quarter. Gateway Investment Advisers LLC now owns 2,855 shares of the insurance provider’s stock valued at $266,000 after buying an additional 26 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Arch Capital Group by 0.7% in the second quarter. CIBC Asset Management Inc now owns 10,799 shares of the insurance provider’s stock valued at $1,007,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 76.91% of the company’s stock.
Arch Capital Group (NASDAQ:ACGL) traded up 0.61% during trading on Monday, reaching $100.30. The company’s stock had a trading volume of 286,121 shares. Arch Capital Group has a one year low of $76.47 and a one year high of $100.69. The company has a 50-day moving average of $97.07 and a 200 day moving average of $95.93. The firm has a market cap of $13.49 billion, a PE ratio of 18.24 and a beta of 0.66.
Arch Capital Group Company Profile
Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.
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