Equities analysts expect AmTrust Financial Services, Inc. (NASDAQ:AFSI) to report sales of $1.52 billion for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for AmTrust Financial Services’ earnings, with estimates ranging from $1.50 billion to $1.55 billion. AmTrust Financial Services reported sales of $1.40 billion during the same quarter last year, which would suggest a positive year over year growth rate of 8.6%. The firm is expected to report its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that AmTrust Financial Services will report full-year sales of $1.52 billion for the current fiscal year, with estimates ranging from $6.06 billion to $6.08 billion. For the next year, analysts anticipate that the business will post sales of $6.52 billion per share, with estimates ranging from $6.23 billion to $6.81 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover AmTrust Financial Services.
AmTrust Financial Services (NASDAQ:AFSI) last released its earnings results on Tuesday, August 8th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. AmTrust Financial Services had a return on equity of 14.26% and a net margin of 5.14%. AmTrust Financial Services’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share.
AFSI has been the topic of several analyst reports. JMP Securities initiated coverage on shares of AmTrust Financial Services in a research note on Friday, July 7th. They issued an “outperform” rating and a $18.00 target price on the stock. BidaskClub downgraded shares of AmTrust Financial Services from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. TheStreet downgraded shares of AmTrust Financial Services from a “c” rating to a “d” rating in a research note on Wednesday, July 19th. Compass Point reiterated a “buy” rating and issued a $22.00 target price (down previously from $26.00) on shares of AmTrust Financial Services in a research note on Tuesday, May 30th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $16.00 target price on shares of AmTrust Financial Services in a research note on Friday, May 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $19.50.
In other news, SVP Stephen Ungar sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $13.92, for a total value of $69,600.00. Following the transaction, the senior vice president now owns 175,256 shares in the company, valued at $2,439,563.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 50.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in AmTrust Financial Services by 33.6% in the first quarter. Vanguard Group Inc. now owns 8,667,061 shares of the insurance provider’s stock valued at $159,994,000 after buying an additional 2,181,846 shares during the last quarter. Edge Asset Management Inc. boosted its position in AmTrust Financial Services by 24.9% in the first quarter. Edge Asset Management Inc. now owns 5,082,376 shares of the insurance provider’s stock valued at $93,819,000 after buying an additional 1,013,216 shares during the last quarter. Royal Bank of Canada boosted its position in AmTrust Financial Services by 20.3% in the second quarter. Royal Bank of Canada now owns 4,012,368 shares of the insurance provider’s stock valued at $60,748,000 after buying an additional 676,537 shares during the last quarter. State Street Corp boosted its position in AmTrust Financial Services by 54.1% in the second quarter. State Street Corp now owns 3,292,917 shares of the insurance provider’s stock valued at $49,854,000 after buying an additional 1,156,431 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in AmTrust Financial Services by 50.1% in the first quarter. Principal Financial Group Inc. now owns 2,298,469 shares of the insurance provider’s stock valued at $42,430,000 after buying an additional 767,278 shares during the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.
Shares of AmTrust Financial Services (NASDAQ AFSI) opened at 13.56 on Monday. AmTrust Financial Services has a 52-week low of $11.80 and a 52-week high of $28.48. The firm has a market cap of $2.66 billion, a P/E ratio of 13.18 and a beta of 1.16. The company has a 50 day moving average price of $14.94 and a 200-day moving average price of $16.98.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a $0.17 dividend. The ex-dividend date is Friday, September 29th. This represents a $0.68 annualized dividend and a dividend yield of 5.01%. AmTrust Financial Services’s dividend payout ratio is presently 51.13%.
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About AmTrust Financial Services
Amtrust Financial Services, Inc (AmTrust) is an insurance holding company. The Company, through its subsidiaries, provides specialty property and casualty insurance focusing on workers’ compensation and commercial package coverage for small business, specialty risk and extended warranty coverage, and property and casualty coverage for middle market business.
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