$214.55 Million in Sales Expected for RLI Corp. (RLI) This Quarter

Analysts expect RLI Corp. (NYSE:RLI) to announce sales of $214.55 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for RLI’s earnings. The lowest sales estimate is $214.50 million and the highest is $214.60 million. RLI reported sales of $196.21 million during the same quarter last year, which indicates a positive year over year growth rate of 9.3%. The company is scheduled to report its next earnings report after the market closes on Wednesday, October 17th.

According to Zacks, analysts expect that RLI will report full-year sales of $847.51 million for the current fiscal year, with estimates ranging from $846.90 million to $848.11 million. For the next fiscal year, analysts anticipate that the business will post sales of $892.71 million, with estimates ranging from $888.80 million to $896.62 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow RLI.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, July 18th. The insurance provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. The business had revenue of $211.10 million during the quarter, compared to analyst estimates of $208.39 million. RLI had a return on equity of 9.13% and a net margin of 12.91%. During the same period in the prior year, the company posted $0.61 earnings per share.

RLI has been the subject of a number of recent research reports. Zacks Investment Research upgraded RLI from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Monday, July 23rd. B. Riley upped their target price on RLI from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, August 7th. Royal Bank of Canada upgraded RLI from an “underperform” rating to a “sector perform” rating in a research note on Friday, July 20th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $57.00 target price on shares of RLI in a research note on Friday, July 20th. Finally, ValuEngine lowered RLI from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. RLI presently has an average rating of “Hold” and a consensus price target of $64.75.

In other RLI news, Director Michael J. Stone sold 5,000 shares of the stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $77.84, for a total transaction of $389,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael J. Stone sold 1,422 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $77.63, for a total value of $110,389.86. The disclosure for this sale can be found here. Corporate insiders own 5.54% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Strs Ohio raised its stake in RLI by 58.3% during the second quarter. Strs Ohio now owns 1,900 shares of the insurance provider’s stock worth $125,000 after acquiring an additional 700 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in RLI by 184.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,140 shares of the insurance provider’s stock worth $142,000 after acquiring an additional 1,387 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in RLI during the first quarter worth $201,000. Whittier Trust Co. of Nevada Inc. raised its stake in RLI by 31.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,639 shares of the insurance provider’s stock worth $241,000 after acquiring an additional 875 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in RLI during the first quarter worth $262,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Shares of NYSE RLI opened at $75.50 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market capitalization of $3.48 billion, a P/E ratio of 46.89 and a beta of 1.22. RLI has a one year low of $56.72 and a one year high of $79.98.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 20th. Investors of record on Friday, August 31st were paid a $0.22 dividend. The ex-dividend date was Thursday, August 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.17%. RLI’s payout ratio is 54.66%.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, real estate investment trusts, and mercantile.

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Earnings History and Estimates for RLI (NYSE:RLI)

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