Brokerages Expect Navigators Group Inc (NAVG) to Post $0.34 Earnings Per Share

Analysts expect Navigators Group Inc (NASDAQ:NAVG) to announce earnings of $0.34 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Navigators Group’s earnings. Navigators Group reported earnings per share of $0.81 during the same quarter last year, which would suggest a negative year over year growth rate of 58%. The business is scheduled to issue its next earnings results on Thursday, February 21st.

Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Navigators Group.

Navigators Group (NASDAQ:NAVG) last announced its earnings results on Wednesday, November 7th. The insurance provider reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.52). Navigators Group had a net margin of 6.54% and a return on equity of 7.27%. The firm had revenue of $374.41 million during the quarter, compared to analysts’ expectations of $373.96 million.

Several equities research analysts have recently weighed in on NAVG shares. Keefe, Bruyette & Woods set a $70.00 target price on shares of Navigators Group and gave the company a “hold” rating in a research note on Wednesday, August 22nd. Zacks Investment Research downgraded shares of Navigators Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. ValuEngine raised shares of Navigators Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. BidaskClub raised shares of Navigators Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Finally, Sandler O’Neill downgraded shares of Navigators Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $65.67.

Shares of NAVG traded up $0.14 during midday trading on Friday, hitting $69.59. The stock had a trading volume of 149,837 shares, compared to its average volume of 103,987. Navigators Group has a 1 year low of $46.25 and a 1 year high of $71.45. The company has a market cap of $2.07 billion, a P/E ratio of 59.99 and a beta of 0.49. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.23.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, November 30th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Thursday, November 29th. Navigators Group’s dividend payout ratio is currently 24.14%.

Several institutional investors and hedge funds have recently made changes to their positions in NAVG. Gagnon Securities LLC purchased a new stake in shares of Navigators Group in the second quarter valued at $9,699,000. BlackRock Inc. increased its stake in Navigators Group by 11.8% in the 3rd quarter. BlackRock Inc. now owns 3,221,676 shares of the insurance provider’s stock worth $222,617,000 after buying an additional 340,557 shares during the period. Spring Creek Capital LLC increased its stake in Navigators Group by 8,962.8% in the 3rd quarter. Spring Creek Capital LLC now owns 336,048 shares of the insurance provider’s stock worth $23,221,000 after buying an additional 332,340 shares during the period. FIL Ltd purchased a new position in Navigators Group in the 3rd quarter worth about $20,357,000. Finally, Millennium Management LLC increased its stake in Navigators Group by 618.3% in the 2nd quarter. Millennium Management LLC now owns 329,199 shares of the insurance provider’s stock worth $18,764,000 after buying an additional 283,368 shares during the period. 72.52% of the stock is currently owned by institutional investors and hedge funds.

Navigators Group Company Profile

The Navigators Group, Inc, together with its subsidiaries, underwrites marine, property and casualty, and professional liability insurance products and services in the United States and internationally. The company operates through the U.S. Insurance, International Insurance, Global Reinsurance, and Corporate segments.

See Also: Risk Tolerance

Get a free copy of the Zacks research report on Navigators Group (NAVG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Navigators Group (NASDAQ:NAVG)

Receive News & Ratings for Navigators Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navigators Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply