$1.88 Billion in Sales Expected for W. R. Berkley Corp (NYSE:WRB) This Quarter

Wall Street analysts forecast that W. R. Berkley Corp (NYSE:WRB) will report sales of $1.88 billion for the current fiscal quarter, Zacks reports. Two analysts have made estimates for W. R. Berkley’s earnings. The lowest sales estimate is $1.84 billion and the highest is $1.93 billion. W. R. Berkley posted sales of $1.76 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.8%. The firm is expected to report its next quarterly earnings results after the market closes on Tuesday, July 23rd.

On average, analysts expect that W. R. Berkley will report full year sales of $7.51 billion for the current year, with estimates ranging from $7.41 billion to $7.69 billion. For the next fiscal year, analysts forecast that the business will post sales of $7.82 billion, with estimates ranging from $7.64 billion to $8.06 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow W. R. Berkley.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings results on Tuesday, April 23rd. The insurance provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.31. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.62 billion. W. R. Berkley had a net margin of 8.47% and a return on equity of 10.21%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS.

A number of research analysts have commented on WRB shares. Zacks Investment Research raised shares of W. R. Berkley from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Wednesday, May 22nd. Boenning Scattergood reaffirmed a “hold” rating on shares of W. R. Berkley in a research report on Wednesday, April 24th. ValuEngine cut shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Royal Bank of Canada upped their target price on shares of W. R. Berkley to $60.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 24th. They noted that the move was a valuation call. Finally, Deutsche Bank cut shares of W. R. Berkley from a “hold” rating to a “sell” rating and set a $65.71 target price on the stock. in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $59.67.

NYSE WRB opened at $65.93 on Friday. The firm has a 50-day moving average of $63.55. W. R. Berkley has a 12 month low of $45.91 and a 12 month high of $67.61. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market capitalization of $12.07 billion, a PE ratio of 24.69, a P/E/G ratio of 2.77 and a beta of 0.72.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th will be given a $0.11 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.44 dividend on an annualized basis and a yield of 0.67%. This is a boost from W. R. Berkley’s previous quarterly dividend of $0.10. W. R. Berkley’s dividend payout ratio is presently 16.48%.

In other W. R. Berkley news, Director Mark Ellwood Brockbank sold 77,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $66.61, for a total transaction of $5,128,970.00. Following the sale, the director now directly owns 51,329 shares in the company, valued at $3,419,024.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 21.70% of the company’s stock.

A number of large investors have recently modified their holdings of WRB. Clarfeld Financial Advisors LLC purchased a new stake in W. R. Berkley during the fourth quarter worth about $64,000. Truvestments Capital LLC purchased a new stake in W. R. Berkley during the first quarter worth about $66,000. Strategy Asset Managers LLC purchased a new stake in W. R. Berkley during the first quarter worth about $66,000. Rehmann Capital Advisory Group increased its stake in W. R. Berkley by 64.6% during the fourth quarter. Rehmann Capital Advisory Group now owns 950 shares of the insurance provider’s stock worth $70,000 after purchasing an additional 373 shares during the period. Finally, Citizens Financial Group Inc RI purchased a new stake in W. R. Berkley during the first quarter worth about $74,000. Institutional investors own 72.63% of the company’s stock.

About W. R. Berkley

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.

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Earnings History and Estimates for W. R. Berkley (NYSE:WRB)

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