W. R. Berkley Corp (NYSE:WRB) will be announcing its earnings results after the market closes on Tuesday, October 24th. Analysts expect the company to announce earnings of $0.79 per share for the quarter.
W. R. Berkley Corp (NYSE:WRB) last posted its quarterly earnings data on Tuesday, July 25th. The insurance provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.10). W. R. Berkley Corp had a net margin of 5.93% and a return on equity of 8.35%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the company posted $0.82 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. On average, analysts expect W. R. Berkley Corp to post $2.46 EPS for the current fiscal year and $3.21 EPS for the next fiscal year.
Shares of W. R. Berkley Corp (WRB) opened at 70.13 on Friday. The stock has a 50 day moving average price of $66.46 and a 200 day moving average price of $67.93. W. R. Berkley Corp has a 52-week low of $55.55 and a 52-week high of $73.17. The company has a market capitalization of $8.51 billion, a PE ratio of 14.89 and a beta of 0.88.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Tuesday, September 19th. W. R. Berkley Corp’s payout ratio is presently 11.84%.
W. R. Berkley Corp declared that its board has authorized a share repurchase program on Tuesday, August 8th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the insurance provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
WRB has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued a “hold” rating and set a $72.00 target price on shares of W. R. Berkley Corp in a report on Tuesday, August 29th. BidaskClub lowered W. R. Berkley Corp from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research raised W. R. Berkley Corp from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Buckingham Research initiated coverage on W. R. Berkley Corp in a report on Monday, September 11th. They issued a “neutral” rating and a $67.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reaffirmed a “neutral” rating on shares of W. R. Berkley Corp in a report on Sunday, September 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $66.00.
About W. R. Berkley Corp
W. R. Berkley Corporation is an insurance holding company. It operates through two segments: Insurance and Reinsurance-Global. The Insurance segment consists of its commercial insurance business operations, comprising excess and surplus lines, and admitted lines, throughout the United States, as well as its insurance business operations in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.
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