Brokerages Anticipate Brown & Brown (BRO) to Post $0.30 Earnings Per Share

Brokerages expect Brown & Brown (NYSE:BRO) to announce earnings of $0.30 per share for the current quarter, according to Zacks. Five analysts have provided estimates for Brown & Brown’s earnings, with the lowest EPS estimate coming in at $0.26 and the highest estimate coming in at $0.39. Brown & Brown reported earnings of $0.22 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 36.4%. The company is scheduled to announce its next quarterly earnings results after the market closes on Monday, April 23rd.

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 $1.14 to $1.52. For the next fiscal year, analysts expect that the firm will post earnings of $1.35 per share, with EPS estimates ranging from $1.23 to $1.63. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Brown & Brown.

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Brown & Brown (NYSE:BRO) last announced its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. Brown & Brown had a return on equity of 11.19% and a net margin of 21.24%. The firm had revenue of $474.30 million during the quarter, compared to the consensus estimate of $449.89 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis.

A number of equities analysts recently commented on BRO shares. Morgan Stanley decreased their target price on Brown & Brown from $50.00 to $25.00 and set an “underweight” rating for the company in a report on Wednesday, March 28th. Zacks Investment Research downgraded Brown & Brown from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine downgraded Brown & Brown from a “buy” rating to a “hold” rating in a report on Thursday, March 29th. Langen Mcalenn restated a “buy” rating on shares of Brown & Brown in a report on Tuesday, January 16th. Finally, Wells Fargo restated a “hold” rating and set a $26.00 target price on shares of Brown & Brown in a report on Monday, January 22nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $24.94.

In related news, Chairman Hyatt J. Brown sold 35,561 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $53.13, for a total value of $1,889,355.93. Following the sale, the chairman now directly owns 27,957 shares of the company’s stock, valued at $1,485,355.41. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Hyatt J. Brown sold 140,000 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $52.85, for a total value of $7,399,000.00. Following the completion of the sale, the chairman now directly owns 27,957 shares in the company, valued at $1,477,527.45. The disclosure for this sale can be found here. 17.12% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Simplex Trading LLC purchased a new position in Brown & Brown during the 4th quarter valued at approximately $101,000. Cutler Group LP lifted its position in shares of Brown & Brown by 212.2% during the 4th quarter. Cutler Group LP now owns 2,482 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 1,687 shares during the period. Invictus RG acquired a new position in shares of Brown & Brown during the 3rd quarter worth approximately $248,000. Wolverine Trading LLC acquired a new position in shares of Brown & Brown during the 3rd quarter worth approximately $273,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Brown & Brown by 50.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,519 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 2,197 shares during the last quarter. 72.25% of the stock is currently owned by hedge funds and other institutional investors.

BRO stock traded down $0.37 during midday trading on Monday, hitting $25.09. The company had a trading volume of 1,261,662 shares, compared to its average volume of 1,240,140. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. Brown & Brown has a 52 week low of $20.66 and a 52 week high of $26.93. The company has a market capitalization of $7,016.81, a P/E ratio of 26.14, a PEG ratio of 2.06 and a beta of 0.69.

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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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Earnings History and Estimates for Brown & Brown (NYSE:BRO)

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