Everest Re Group, Ltd. (NYSE:RE) announced its quarterly earnings data on Monday. The insurance provider reported ($16.43) earnings per share for the quarter, missing analysts’ consensus estimates of $3.68 by ($20.11), Briefing.com reports. Everest Re Group had a return on equity of 2.19% and a net margin of 4.27%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the previous year, the firm earned $6.53 earnings per share. Everest Re Group’s revenue was up 16.6% on a year-over-year basis.
Shares of Everest Re Group (RE) opened at 237.45 on Wednesday. Everest Re Group has a 52-week low of $202.48 and a 52-week high of $277.17. The firm has a 50-day moving average of $230.24 and a 200-day moving average of $247.78. The company has a market cap of $9.75 billion, a P/E ratio of 8.15 and a beta of 0.62.
A number of equities research analysts have commented on the stock. Wells Fargo & Company set a $240.00 target price on shares of Everest Re Group and gave the stock a “hold” rating in a research report on Monday. UBS AG cut their target price on shares of Everest Re Group from $240.00 to $230.00 and set a “neutral” rating for the company in a research report on Monday, October 2nd. Barclays PLC lifted their target price on shares of Everest Re Group from $299.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 11th. Zacks Investment Research downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, BidaskClub downgraded shares of Everest Re Group from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Everest Re Group presently has an average rating of “Hold” and a consensus price target of $243.10.
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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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