Zacks: Brokerages Expect ProAssurance Co. (NYSE:PRA) to Announce $0.12 Earnings Per Share

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Equities research analysts forecast that ProAssurance Co. (NYSE:PRA) will report earnings per share (EPS) of $0.12 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for ProAssurance’s earnings. The lowest EPS estimate is $0.10 and the highest is $0.14. ProAssurance posted earnings per share of $0.42 during the same quarter last year, which suggests a negative year over year growth rate of 71.4%. The company is scheduled to announce its next earnings report on Tuesday, November 5th.

On average, analysts expect that ProAssurance will report full-year earnings of $0.43 per share for the current fiscal year, with EPS estimates ranging from $0.40 to $0.45. For the next financial year, analysts forecast that the company will report earnings of $0.60 per share, with EPS estimates ranging from $0.50 to $0.70. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover ProAssurance.

ProAssurance (NYSE:PRA) last released its earnings results on Wednesday, August 7th. The insurance provider reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). ProAssurance had a return on equity of 2.58% and a net margin of 5.33%. The firm had revenue of $239.62 million for the quarter, compared to analyst estimates of $246.74 million. During the same period last year, the business earned $0.48 earnings per share. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year.

A number of research firms recently weighed in on PRA. ValuEngine raised ProAssurance from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Keefe, Bruyette & Woods downgraded ProAssurance from a “market perform” rating to an “underperform” rating and set a $33.00 target price on the stock. in a research report on Monday, May 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $41.00.

PRA stock opened at $40.19 on Tuesday. ProAssurance has a twelve month low of $34.11 and a twelve month high of $49.45. The company has a market cap of $2.16 billion, a PE ratio of 27.16 and a beta of 0.53. The business’s 50-day simple moving average is $38.73 and its 200 day simple moving average is $37.73. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.19.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Thursday, September 26th. ProAssurance’s dividend payout ratio is 83.78%.

In other ProAssurance news, Director John J. Mcmahon, Jr. sold 933 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $36.19, for a total transaction of $33,765.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in PRA. Quadrant Capital Group LLC raised its stake in shares of ProAssurance by 375.0% in the first quarter. Quadrant Capital Group LLC now owns 855 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 675 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of ProAssurance by 43.4% in the second quarter. Versant Capital Management Inc now owns 879 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 266 shares in the last quarter. Nomura Asset Management Co. Ltd. acquired a new stake in shares of ProAssurance in the second quarter valued at approximately $33,000. Marshall Wace North America L.P. acquired a new stake in shares of ProAssurance in the first quarter valued at approximately $42,000. Finally, Twin Tree Management LP acquired a new stake in shares of ProAssurance in the first quarter valued at approximately $63,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

ProAssurance Company Profile

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate segments.

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Earnings History and Estimates for ProAssurance (NYSE:PRA)

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