Palomar (PLMR) Set to Announce Earnings on Thursday

Palomar (NASDAQ:PLMR) will issue 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. Persons that wish to register for the company’s earnings conference call can do so using this link.

Palomar (NASDAQ:PLMR) last released its earnings results on Wednesday, February 14th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.85 by $0.09. The firm had revenue of $102.35 million during the quarter, compared to analysts’ expectations of $95.07 million. Palomar had a return on equity of 19.35% and a net margin of 21.07%. 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

PLMR stock opened at $78.67 on Wednesday. The business’s 50-day moving average is $78.60 and its two-hundred day moving average is $65.72. The firm has a market capitalization of $1.96 billion, a P/E ratio of 25.21 and a beta of 0.21. Palomar has a 1 year low of $46.09 and a 1 year high of $86.25.

Analyst Upgrades and Downgrades

PLMR has been the topic of several analyst reports. JPMorgan Chase & Co. cut shares of Palomar from an “overweight” rating to a “neutral” rating and raised their target price for the company from $79.00 to $85.00 in a report on Monday, April 8th. Piper Sandler raised their price objective on shares of Palomar from $80.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $88.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Jefferies Financial Group raised Palomar from a “hold” rating to a “buy” rating and increased their target price for the company from $78.00 to $88.00 in a report on Thursday, March 14th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Palomar in a report on Monday, April 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.50.

Insider Buying and Selling

In other Palomar news, President Jon Christianson sold 2,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $60.00, for a total value of $120,000.00. Following the completion of the transaction, the president now owns 69,521 shares in the company, valued at $4,171,260. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO T Christopher Uchida sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $59.45, for a total transaction of $59,450.00. Following the transaction, the chief financial officer now owns 31,344 shares in the company, valued at approximately $1,863,400.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Jon Christianson sold 2,000 shares of Palomar stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. Following the transaction, the president now directly owns 69,521 shares in the company, valued at approximately $4,171,260. The disclosure for this sale can be found here. Insiders have sold 42,250 shares of company stock worth $3,305,655 in the last ninety days. 4.30% of the stock is owned by corporate insiders.

Palomar Company Profile

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.