Wall Street brokerages predict that Brown & Brown, Inc. (NYSE:BRO) will announce $0.27 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Brown & Brown’s earnings, with estimates ranging from $0.25 to $0.30. Brown & Brown reported earnings of $0.24 per share in the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The company is scheduled to report its next quarterly earnings report on Monday, January 28th.
According to Zacks, analysts expect that Brown & Brown will report full year earnings of $1.24 per share for the current year, with EPS estimates ranging from $1.22 to $1.28. For the next year, analysts expect that the company will report earnings of $1.35 per share, with EPS estimates ranging from $1.32 to $1.42. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Brown & Brown.
Brown & Brown (NYSE:BRO) last posted its quarterly earnings data on Monday, October 22nd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ 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 net margin of 23.15% and a return on equity of 12.36%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 EPS.
A number of research firms have issued reports on BRO. Credit Suisse Group began coverage on shares of Brown & Brown in a report on Tuesday, August 7th. They issued a “neutral” rating and a $31.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Brown & Brown from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Tuesday, August 14th. Citigroup boosted their price objective on shares of Brown & Brown from $25.00 to $26.00 and gave the company a “sell” rating in a report on Thursday, July 12th. Wells Fargo & Co reissued a “hold” rating and issued a $28.00 price objective on shares of Brown & Brown in a report on Monday, October 22nd. Finally, Zacks Investment Research downgraded shares of Brown & Brown from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $29.18.
Institutional investors have recently modified their holdings of the company. Bruderman Asset Management LLC bought a new stake in shares of Brown & Brown during the 2nd quarter worth approximately $117,000. Itau Unibanco Holding S.A. bought a new stake in shares of Brown & Brown during the 2nd quarter worth approximately $144,000. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Brown & Brown during the 2nd quarter worth approximately $183,000. Palladium Partners LLC bought a new stake in shares of Brown & Brown during the 2nd quarter worth approximately $211,000. Finally, SRS Capital Advisors Inc. bought a new stake in shares of Brown & Brown during the 3rd quarter worth approximately $221,000. 71.59% of the stock is owned by institutional investors.
NYSE BRO traded up $0.01 during trading on Friday, reaching $28.83. The company’s stock had a trading volume of 28,379 shares, compared to its average volume of 1,476,374. The company has a quick ratio of 0.98, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $7.87 billion, a P/E ratio of 30.07, a P/E/G ratio of 2.27 and a beta of 0.73. Brown & Brown has a 12 month low of $24.28 and a 12 month high of $31.55.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 7th. Stockholders of record on Friday, October 26th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, October 25th. This is an increase from Brown & Brown’s previous quarterly dividend of $0.08. Brown & Brown’s dividend payout ratio is 33.33%.
About Brown & Brown
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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