Brokerages forecast that W. R. Berkley Corp (NYSE:WRB) will post $1.93 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for W. R. Berkley’s earnings, with the highest sales estimate coming in at $1.98 billion and the lowest estimate coming in at $1.88 billion. W. R. Berkley reported sales of $1.81 billion in the same quarter last year, which would suggest a positive year over year growth rate of 6.6%. The company is scheduled to report its next earnings results on Tuesday, February 4th.
According to Zacks, analysts expect that W. R. Berkley will report full-year sales of $7.53 billion for the current financial year, with estimates ranging from $7.30 billion to $7.76 billion. For the next fiscal year, analysts forecast that the business will report sales of $7.95 billion, with estimates ranging from $7.77 billion to $8.27 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover W. R. Berkley.
W. R. Berkley (NYSE:WRB) last posted its earnings results on Tuesday, October 22nd. The insurance provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.18. W. R. Berkley had a net margin of 8.82% and a return on equity of 10.60%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the company posted $0.84 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year.
A number of research analysts have recently commented on WRB shares. Zacks Investment Research raised shares of W. R. Berkley from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Saturday, October 19th. Royal Bank of Canada raised shares of W. R. Berkley from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $70.00 to $80.00 in a research report on Thursday, December 5th. ValuEngine cut shares of W. R. Berkley from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 3rd. Morgan Stanley boosted their target price on shares of W. R. Berkley from $63.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Finally, Buckingham Research boosted their target price on shares of W. R. Berkley from $63.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $67.34.
Shares of NYSE WRB traded down $0.23 during trading on Thursday, reaching $69.92. 717,876 shares of the stock were exchanged, compared to its average volume of 744,469. The business’s 50-day moving average price is $68.93 and its 200 day moving average price is $68.88. W. R. Berkley has a twelve month low of $45.91 and a twelve month high of $77.54. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $12.87 billion, a price-to-earnings ratio of 26.19, a price-to-earnings-growth ratio of 2.56 and a beta of 0.65.
The firm also recently announced a dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, November 21st. W. R. Berkley’s payout ratio is 16.48%.
A number of hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC increased its stake in W. R. Berkley by 30.0% during the third quarter. Signaturefd LLC now owns 745 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 172 shares during the last quarter. Johnson Financial Group Inc. increased its stake in W. R. Berkley by 49.9% during the second quarter. Johnson Financial Group Inc. now owns 553 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 184 shares during the last quarter. US Bancorp DE increased its stake in W. R. Berkley by 30.4% during the second quarter. US Bancorp DE now owns 833 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 194 shares during the last quarter. Smith Shellnut Wilson LLC ADV grew its position in shares of W. R. Berkley by 3.7% during the third quarter. Smith Shellnut Wilson LLC ADV now owns 5,542 shares of the insurance provider’s stock worth $400,000 after acquiring an additional 197 shares during the last quarter. Finally, Bedel Financial Consulting Inc. grew its position in shares of W. R. Berkley by 50.2% during the second quarter. Bedel Financial Consulting Inc. now owns 619 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 69.73% of the company’s stock.
About W. R. Berkley
W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.
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