$6.46 EPS Expected for Everest Re Group Ltd (RE) This Quarter

Wall Street analysts forecast that Everest Re Group Ltd (NYSE:RE) will report earnings per share of $6.46 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Everest Re Group’s earnings, with the highest EPS estimate coming in at $7.02 and the lowest estimate coming in at $6.23. Everest Re Group reported earnings per share of $0.98 in the same quarter last year, which would suggest a positive year-over-year growth rate of 559.2%. The business is scheduled to report its next earnings report on Monday, July 29th.

On average, analysts expect that Everest Re Group will report full-year earnings of $24.30 per share for the current fiscal year, with EPS estimates ranging from $23.60 to $25.01. For the next fiscal year, analysts expect that the company will report earnings of $24.93 per share, with EPS estimates ranging from $24.55 to $25.40. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Everest Re Group.

Everest Re Group (NYSE:RE) last issued its quarterly earnings results on Monday, May 6th. The insurance provider reported $6.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.91 by $1.00. Everest Re Group had a net margin of 3.19% and a return on equity of 3.08%. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the company posted $5.34 EPS. Everest Re Group’s revenue was up 12.3% on a year-over-year basis.

A number of analysts have weighed in on RE shares. Barclays raised their price objective on shares of Everest Re Group from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Morgan Stanley raised their price objective on shares of Everest Re Group from $232.00 to $248.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 15th. Deutsche Bank lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Zacks Investment Research lowered shares of Everest Re Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Finally, ValuEngine upgraded shares of Everest Re Group from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $253.20.

Shares of NYSE RE opened at $253.31 on Monday. Everest Re Group has a 1 year low of $201.09 and a 1 year high of $252.99. The stock has a market cap of $10.11 billion, a P/E ratio of 54.48, a price-to-earnings-growth ratio of 1.02 and a beta of 0.28. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.37 and a quick ratio of 0.37.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 29th will be paid a dividend of $1.40 per share. The ex-dividend date is Tuesday, May 28th. This represents a $5.60 dividend on an annualized basis and a yield of 2.21%. Everest Re Group’s dividend payout ratio is currently 120.43%.

In other news, SVP Jonathan Zaffino sold 1,048 shares of Everest Re Group stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $248.01, for a total value of $259,914.48. Following the completion of the sale, the senior vice president now directly owns 9,617 shares in the company, valued at $2,385,112.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Weber sold 500 shares of Everest Re Group stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $246.46, for a total transaction of $123,230.00. Following the completion of the sale, the director now owns 6,499 shares of the company’s stock, valued at $1,601,743.54. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Somerset Trust Co grew its position in Everest Re Group by 190.5% during the first quarter. Somerset Trust Co now owns 122 shares of the insurance provider’s stock valued at $26,000 after buying an additional 80 shares during the period. Stamos Capital Partners L.P. bought a new stake in Everest Re Group during the fourth quarter valued at approximately $28,000. Penserra Capital Management LLC bought a new stake in Everest Re Group during the fourth quarter valued at approximately $30,000. Cresset Asset Management LLC bought a new stake in Everest Re Group during the first quarter valued at approximately $40,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Everest Re Group by 282.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 218 shares of the insurance provider’s stock valued at $47,000 after buying an additional 161 shares during the period. Hedge funds and other institutional investors own 91.29% of the company’s stock.

About Everest Re Group

Everest Re Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through four segments: U.S. Reinsurance, International, Bermuda, and Insurance. The U.S. Reinsurance segment writes property and casualty reinsurance; and specialty lines of business, including marine, aviation, surety, and accident and health insurance through reinsurance brokers, as well as directly with ceding companies in the United States.

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Earnings History and Estimates for Everest Re Group (NYSE:RE)

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