Palomar (PLMR) Scheduled to Post Quarterly Earnings on Thursday

Palomar (NASDAQ:PLMR) will be issuing its quarterly earnings data after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.81 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Palomar (NASDAQ:PLMR) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.09. The company had revenue of $102.35 million for the quarter, compared to analyst estimates of $95.07 million. Palomar had a net margin of 21.07% and a return on equity of 19.35%. On average, analysts expect Palomar to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Palomar Price Performance

NASDAQ PLMR traded down $0.10 on Tuesday, reaching $80.15. The company had a trading volume of 14,419 shares, compared to its average volume of 156,509. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 25.72 and a beta of 0.21. Palomar has a fifty-two week low of $46.09 and a fifty-two week high of $86.25. The business has a 50 day moving average of $78.53 and a two-hundred day moving average of $65.53.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised their price objective on Palomar from $88.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Jefferies Financial Group raised Palomar from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $78.00 to $88.00 in a research report on Thursday, March 14th. Evercore ISI upped their target price on Palomar from $68.00 to $86.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. JMP Securities reiterated a “market perform” rating on shares of Palomar in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. cut Palomar from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $79.00 to $85.00 in a report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Palomar has a consensus rating of “Moderate Buy” and an average price target of $87.50.

Insider Buying and Selling

In other Palomar news, CEO Mac Armstrong sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $80.03, for a total value of $560,210.00. Following the completion of the sale, the chief executive officer now owns 468,388 shares of the company’s stock, valued at $37,485,091.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Palomar news, President Jon Christianson sold 2,000 shares of Palomar stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the transaction, the president now owns 69,521 shares in the company, valued at approximately $4,171,260. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mac Armstrong sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $80.03, for a total value of $560,210.00. Following the sale, the chief executive officer now directly owns 468,388 shares of the company’s stock, valued at $37,485,091.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,784 shares of company stock valued at $3,455,642. 4.30% of the stock is owned by company insiders.

About Palomar

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.