Wall Street brokerages expect Assurant, Inc. (NYSE:AIZ) to announce $1.58 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Assurant’s earnings, with estimates ranging from $1.56 billion to $1.60 billion. Assurant posted sales of $1.69 billion during the same quarter last year, which suggests a negative year over year growth rate of 6.5%. The business is expected to announce its next quarterly earnings results after the market closes on Thursday, November 2nd.
On average, analysts expect that Assurant will report full year sales of $1.58 billion for the current fiscal year, with estimates ranging from $6.24 billion to $6.37 billion. For the next year, analysts anticipate that the business will report sales of $6.44 billion per share, with estimates ranging from $6.42 billion to $6.45 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Assurant.
Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.05. Assurant had a return on equity of 6.70% and a net margin of 6.53%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the company posted $1.42 EPS. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year.
Several analysts have commented on AIZ shares. BidaskClub raised Assurant from a “hold” rating to a “buy” rating in a report on Friday, June 30th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $115.00 price objective on shares of Assurant in a report on Thursday, October 12th.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Assurant by 0.3% in the second quarter. Vanguard Group Inc. now owns 5,990,787 shares of the financial services provider’s stock valued at $621,185,000 after purchasing an additional 20,675 shares during the period. BlackRock Inc. grew its holdings in Assurant by 1.2% in the second quarter. BlackRock Inc. now owns 3,799,693 shares of the financial services provider’s stock valued at $393,989,000 after purchasing an additional 44,660 shares during the period. Dimensional Fund Advisors LP grew its holdings in Assurant by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,134,628 shares of the financial services provider’s stock valued at $221,344,000 after purchasing an additional 54,580 shares during the period. Wedge Capital Management L L P NC grew its holdings in Assurant by 0.3% in the second quarter. Wedge Capital Management L L P NC now owns 1,161,818 shares of the financial services provider’s stock valued at $120,469,000 after purchasing an additional 3,285 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Assurant by 9,105.8% in the second quarter. Janus Henderson Group PLC now owns 635,659 shares of the financial services provider’s stock valued at $65,912,000 after purchasing an additional 628,754 shares during the period. 90.85% of the stock is currently owned by institutional investors.
Assurant (NYSE AIZ) traded up 0.63% on Monday, reaching $100.43. The company’s stock had a trading volume of 335,336 shares. The firm has a 50-day moving average of $95.35 and a 200 day moving average of $99.60. Assurant has a 12-month low of $78.50 and a 12-month high of $106.99. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 13.20 and a beta of 0.79.
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Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).
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