W. R. Berkley Corp (NYSE:WRB) Expected to Post Earnings of $0.65 Per Share

Equities analysts expect W. R. Berkley Corp (NYSE:WRB) to post $0.65 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for W. R. Berkley’s earnings, with the highest EPS estimate coming in at $0.68 and the lowest estimate coming in at $0.60. W. R. Berkley reported earnings of $0.75 per share during the same quarter last year, which suggests a negative year over year growth rate of 13.3%. The business is expected to report its next quarterly earnings report on Tuesday, October 22nd.

On average, analysts expect that W. R. Berkley will report full-year earnings of $2.82 per share for the current year, with EPS estimates ranging from $2.61 to $2.90. For the next fiscal year, analysts forecast that the firm will post earnings of $2.90 per share, with EPS estimates ranging from $2.71 to $3.00. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow W. R. Berkley.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings results on Tuesday, July 23rd. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.18. W. R. Berkley had a return on equity of 10.55% and a net margin of 8.81%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the firm posted $1.40 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis.

A number of research firms have recently weighed in on WRB. Deutsche Bank downgraded W. R. Berkley from a “hold” rating to a “sell” rating and set a $65.71 target price for the company. in a report on Wednesday, June 26th. UBS Group lifted their target price on W. R. Berkley from $53.00 to $56.00 and gave the stock a “sell” rating in a report on Wednesday, April 24th. Boenning Scattergood reissued a “hold” rating on shares of W. R. Berkley in a report on Wednesday, April 24th. Zacks Investment Research raised W. R. Berkley from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Saturday, July 27th. Finally, Royal Bank of Canada lifted their target price on W. R. Berkley to $68.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $61.34.

In related news, Director Mark Ellwood Brockbank sold 77,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $66.61, for a total value of $5,128,970.00. Following the completion of the transaction, the director now owns 51,329 shares of the company’s stock, valued at $3,419,024.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 21.70% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of WRB. Macquarie Group Ltd. acquired a new position in W. R. Berkley during the fourth quarter worth about $251,000. FMR LLC grew its position in W. R. Berkley by 6.8% during the fourth quarter. FMR LLC now owns 4,268 shares of the insurance provider’s stock worth $315,000 after buying an additional 271 shares during the period. Geode Capital Management LLC grew its position in W. R. Berkley by 15.7% during the fourth quarter. Geode Capital Management LLC now owns 1,139,829 shares of the insurance provider’s stock worth $84,199,000 after buying an additional 154,325 shares during the period. Deutsche Bank AG grew its position in W. R. Berkley by 30.5% during the fourth quarter. Deutsche Bank AG now owns 177,503 shares of the insurance provider’s stock worth $13,115,000 after buying an additional 41,526 shares during the period. Finally, State of Alaska Department of Revenue grew its position in W. R. Berkley by 3.3% during the first quarter. State of Alaska Department of Revenue now owns 19,906 shares of the insurance provider’s stock worth $1,686,000 after buying an additional 630 shares during the period. 72.63% of the stock is owned by institutional investors and hedge funds.

Shares of WRB traded down $0.21 during midday trading on Friday, reaching $71.67. 340,924 shares of the stock were exchanged, compared to its average volume of 602,989. W. R. Berkley has a twelve month low of $45.91 and a twelve month high of $72.43. The company has a current ratio of 0.48, a quick ratio of 0.37 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $13.16 billion, a P/E ratio of 26.84, a P/E/G ratio of 2.83 and a beta of 0.72. The firm has a 50 day moving average of $68.00.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, September 18th. W. R. Berkley’s dividend payout ratio is currently 16.48%.

W. R. Berkley Company Profile

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.

Recommended Story: Blockchain

Get a free copy of the Zacks research report on W. R. Berkley (WRB)

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

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

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