Wall Street analysts expect Brown & Brown, Inc. (NYSE:BRO) to announce $501.29 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Brown & Brown’s earnings, with estimates ranging from $479.53 million to $537.50 million. Brown & Brown reported sales of $474.30 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.7%. The firm is expected to issue its next quarterly earnings report on Monday, January 28th.
On average, analysts expect that Brown & Brown will report full year sales of $2.01 billion for the current fiscal year, with estimates ranging from $1.98 billion to $2.04 billion. For the next fiscal year, analysts forecast that the firm will post sales of $2.33 billion, with estimates ranging from $2.24 billion to $2.36 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Brown & Brown.
Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, October 22nd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.04. The firm had revenue of $530.90 million during the quarter, compared to the consensus estimate of $508.82 million. Brown & Brown had a return on equity of 12.36% and a net margin of 23.15%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 EPS.
BRO has been the subject of several research analyst reports. Zacks Investment Research raised Brown & Brown from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Tuesday, September 25th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $30.00 target price on shares of Brown & Brown in a research report on Wednesday, July 25th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $28.00 target price on shares of Brown & Brown in a research report on Monday, October 22nd. Citigroup set a $27.00 target price on Brown & Brown and gave the stock a “sell” rating in a research report on Wednesday, September 19th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $33.00 target price on shares of Brown & Brown in a research report on Tuesday, July 24th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $29.18.
Shares of Brown & Brown stock opened at $28.18 on Friday. The stock has a market capitalization of $7.87 billion, a P/E ratio of 23.39, a price-to-earnings-growth ratio of 2.27 and a beta of 0.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.98. Brown & Brown has a 1 year low of $24.28 and a 1 year high of $31.55.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 7th. Shareholders of record on Friday, October 26th will be given a $0.08 dividend. This is a positive change from Brown & Brown’s previous quarterly dividend of $0.08. This represents a $0.32 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, October 25th. Brown & Brown’s dividend payout ratio is presently 33.33%.
A number of hedge funds have recently modified their holdings of BRO. American Century Companies Inc. increased its holdings in shares of Brown & Brown by 4.2% during the 3rd quarter. American Century Companies Inc. now owns 2,674,463 shares of the financial services provider’s stock valued at $79,084,000 after acquiring an additional 108,952 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Brown & Brown by 83.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 20,610 shares of the financial services provider’s stock valued at $610,000 after acquiring an additional 9,368 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Brown & Brown by 1.8% during the 3rd quarter. Wells Fargo & Company MN now owns 12,193,170 shares of the financial services provider’s stock valued at $360,551,000 after acquiring an additional 217,552 shares during the last quarter. WCM Investment Management CA increased its holdings in shares of Brown & Brown by 25.1% during the 3rd quarter. WCM Investment Management CA now owns 276,661 shares of the financial services provider’s stock valued at $8,181,000 after acquiring an additional 55,504 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Brown & Brown by 10.5% during the 3rd quarter. Victory Capital Management Inc. now owns 6,419,474 shares of the financial services provider’s stock valued at $189,824,000 after acquiring an additional 610,726 shares during the last quarter. 71.52% of the stock is currently owned by institutional investors.
Brown & Brown Company Profile
Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.
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