Heritage Insurance Holdings, Inc. (NYSE:HRTG) Expected to Announce Quarterly Sales of $154.69 Million

Wall Street brokerages expect Heritage Insurance Holdings, Inc. (NYSE:HRTGGet Rating) to report sales of $154.69 million for the current quarter, according to Zacks. Two analysts have provided estimates for Heritage Insurance’s earnings, with the highest sales estimate coming in at $161.89 million and the lowest estimate coming in at $147.48 million. Heritage Insurance reported sales of $150.20 million in the same quarter last year, which indicates a positive year over year growth rate of 3%. The company is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Heritage Insurance will report full-year sales of $625.82 million for the current fiscal year, with estimates ranging from $606.81 million to $644.83 million. For the next year, analysts expect that the firm will post sales of $657.52 million, with estimates ranging from $638.37 million to $676.66 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Heritage Insurance.

Heritage Insurance (NYSE:HRTGGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The insurance provider reported ($1.15) EPS for the quarter, missing the consensus estimate of $0.13 by ($1.28). Heritage Insurance had a negative return on equity of 10.95% and a negative net margin of 15.61%. During the same quarter last year, the company posted ($0.19) EPS.

HRTG has been the subject of several research reports. StockNews.com raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research downgraded shares of Heritage Insurance from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Finally, TheStreet downgraded shares of Heritage Insurance from a “c-” rating to a “d+” rating in a report on Tuesday, May 3rd. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Heritage Insurance presently has an average rating of “Buy” and an average price target of $9.50.

A number of hedge funds have recently bought and sold shares of HRTG. Point72 Hong Kong Ltd purchased a new position in shares of Heritage Insurance during the third quarter worth about $27,000. Ensign Peak Advisors Inc purchased a new position in shares of Heritage Insurance during the fourth quarter worth about $39,000. Citigroup Inc. grew its holdings in shares of Heritage Insurance by 105.7% during the fourth quarter. Citigroup Inc. now owns 7,149 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 3,673 shares in the last quarter. Herold Advisors Inc. purchased a new position in shares of Heritage Insurance during the first quarter worth about $43,000. Finally, McIlrath & Eck LLC purchased a new position in shares of Heritage Insurance during the first quarter worth about $43,000. 59.33% of the stock is owned by institutional investors and hedge funds.

NYSE HRTG traded down $0.09 during mid-day trading on Wednesday, hitting $3.02. The company’s stock had a trading volume of 270,186 shares, compared to its average volume of 305,710. The company’s 50 day simple moving average is $5.86 and its 200 day simple moving average is $6.08. Heritage Insurance has a twelve month low of $3.01 and a twelve month high of $9.20. The company has a current ratio of 0.62, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $79.94 million, a price-to-earnings ratio of -0.82 and a beta of 0.80.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Tuesday, June 14th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 7.95%. The ex-dividend date is Monday, June 13th. Heritage Insurance’s payout ratio is presently -6.54%.

About Heritage Insurance (Get Rating)

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential property insurance for single-family homeowners and condominium owners, and rental property insurance in the states of Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey, and New York; and licensed in the state of Pennsylvania, as well as personal residential and wind-only property insurance.

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