FedNat Holding Forecasted to Earn Q1 2021 Earnings of ($1.42) Per Share (NASDAQ:FNHC)
FedNat Holding (NASDAQ:FNHC) – Equities researchers at Piper Sandler issued their Q1 2021 earnings per share (EPS) estimates for shares of FedNat in a report released on Monday, April 5th. Piper Sandler analyst P. Newsome anticipates that the insurance provider will post earnings per share of ($1.42) for the quarter. Piper Sandler has a “Overweight” rating and a $7.00 price target on the stock. Piper Sandler also issued estimates for FedNat’s Q2 2021 earnings at ($0.12) EPS, Q3 2021 earnings at ($0.26) EPS, Q4 2021 earnings at $0.33 EPS, FY2021 earnings at ($1.26) EPS, Q1 2022 earnings at $0.51 EPS, Q2 2022 earnings at ($0.03) EPS, Q3 2022 earnings at ($0.21) EPS, Q4 2022 earnings at $0.43 EPS and FY2022 earnings at $0.70 EPS.
FedNat (NASDAQ:FNHC) last posted its earnings results on Monday, March 1st. The insurance provider reported ($1.96) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.65) by $0.69. FedNat had a negative net margin of 10.30% and a negative return on equity of 23.37%. The business had revenue of $76.05 million for the quarter, compared to analyst estimates of $89.89 million.
Shares of FedNat stock opened at $4.76 on Wednesday. The stock has a market capitalization of $81.96 million, a price-to-earnings ratio of -1.38 and a beta of 0.90. The firm’s 50-day moving average price is $5.84 and its two-hundred day moving average price is $5.84. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49. FedNat has a 1-year low of $4.42 and a 1-year high of $13.67.
Institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership grew its holdings in FedNat by 138.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 81,649 shares of the insurance provider’s stock worth $516,000 after acquiring an additional 47,469 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of FedNat by 5.7% during the fourth quarter. Renaissance Technologies LLC now owns 852,388 shares of the insurance provider’s stock valued at $5,046,000 after purchasing an additional 46,288 shares during the last quarter. Morgan Stanley increased its holdings in shares of FedNat by 1,037.8% in the third quarter. Morgan Stanley now owns 45,728 shares of the insurance provider’s stock valued at $288,000 after purchasing an additional 41,709 shares in the last quarter. Susquehanna International Group LLP raised its position in FedNat by 165.8% in the 4th quarter. Susquehanna International Group LLP now owns 36,216 shares of the insurance provider’s stock worth $214,000 after purchasing an additional 22,592 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in FedNat by 1.3% during the 4th quarter. BlackRock Inc. now owns 1,062,443 shares of the insurance provider’s stock worth $6,290,000 after buying an additional 14,001 shares in the last quarter. 47.24% of the stock is owned by institutional investors and hedge funds.
FedNat Company Profile
FedNat Holding Company, together with its subsidiaries, engages in the insurance underwriting, distribution, and claims processing business in Florida, Louisiana, Texas, Georgia, South Carolina, Alabama, and Mississippi. The company is involved in the homeowners and casualty insurance; and personal automobile insurance businesses, as well as commercial general liability and federal flood businesses.
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