Everest Re Group, Ltd. (NYSE:RE) - Equities researchers at Langen Mcalenn upped their Q3 2017 earnings per share estimates for Everest Re Group in a report released on Friday. Langen Mcalenn analyst L. Greenberg now forecasts that the insurance provider will post earnings of $1.96 per share for the quarter, up from their previous estimate of $1.90. Langen Mcalenn also issued estimates for Everest Re Group’s Q4 2017 earnings at $6.25 EPS, FY2017 earnings at $20.00 EPS, Q3 2018 earnings at $1.71 EPS and Q4 2018 earnings at $6.55 EPS.
Everest Re Group (NYSE:RE) last released its quarterly earnings results on Monday, July 24th. The insurance provider reported $5.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.24 by $0.27. Everest Re Group had a net margin of 19.65% and a return on equity of 13.60%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company earned $3.17 earnings per share. WARNING: This report was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this report on another site, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this report can be viewed at https://stocknewstimes.com/2017/08/01/q3-2017-eps-estimates-for-everest-re-group-ltd-boosted-by-analyst-nysere.html.
RE has been the topic of several other reports. Zacks Investment Research lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. ValuEngine upgraded shares of Everest Re Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. BidaskClub lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a research note on Monday. Keefe, Bruyette & Woods lowered shares of Everest Re Group from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $251.00 to $245.00 in a research note on Monday, July 17th. Finally, Deutsche Bank AG restated a “buy” rating and set a $262.00 price objective (up from $240.00) on shares of Everest Re Group in a research note on Saturday, April 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Everest Re Group currently has a consensus rating of “Hold” and a consensus price target of $248.71.
Shares of Everest Re Group (NYSE:RE) opened at 262.39 on Monday. The company has a market capitalization of $10.77 billion, a PE ratio of 8.99 and a beta of 0.63. The firm’s 50-day moving average is $260.42 and its 200-day moving average is $242.71. Everest Re Group has a 12-month low of $183.04 and a 12-month high of $277.17.
Several hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank increased its stake in shares of Everest Re Group by 23.1% in the first quarter. Toronto Dominion Bank now owns 447 shares of the insurance provider’s stock valued at $104,000 after buying an additional 84 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Everest Re Group by 1.6% in the first quarter. IFP Advisors Inc now owns 509 shares of the insurance provider’s stock valued at $119,000 after buying an additional 8 shares during the last quarter. Assetmark Inc. bought a new stake in shares of Everest Re Group during the first quarter valued at approximately $142,000. Eagle Global Advisors LLC bought a new stake in shares of Everest Re Group during the second quarter valued at approximately $218,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Everest Re Group during the first quarter valued at approximately $200,000. 92.51% of the stock is owned by institutional investors and hedge funds.
Everest Re Group Company Profile
Everest Re Group, Ltd., through its subsidiaries, is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. The Company operates in segments: U.S. Reinsurance, International, Bermuda and Insurance segment. The Company underwrites reinsurance both through brokers and directly with ceding companies.
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