Palomar (PLMR) Scheduled to Post Earnings on Thursday

Palomar (NASDAQ:PLMR) is scheduled to be announcing its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.81 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Palomar (NASDAQ:PLMR) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.09. Palomar had a return on equity of 19.35% and a net margin of 21.07%. The business had revenue of $102.35 million during the quarter, compared to analysts’ expectations of $95.07 million. On average, analysts expect Palomar to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Palomar Trading Down 0.1 %

Palomar stock traded down $0.10 during mid-day trading on Tuesday, hitting $80.15. The company had a trading volume of 14,419 shares, compared to its average volume of 156,509. Palomar has a 12 month low of $46.09 and a 12 month high of $86.25. The stock’s 50 day moving average price is $78.53 and its two-hundred day moving average price is $65.53. The company has a market capitalization of $2.00 billion, a PE ratio of 25.72 and a beta of 0.21.

Insiders Place Their Bets

In related news, CEO Mac Armstrong sold 7,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $80.03, for a total value of $560,210.00. Following the transaction, the chief executive officer now directly owns 468,388 shares of the company’s stock, valued at approximately $37,485,091.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $80.03, for a total value of $560,210.00. Following the completion of the sale, the chief executive officer now directly owns 468,388 shares of the company’s stock, valued at approximately $37,485,091.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO T Christopher Uchida sold 750 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $74.36, for a total transaction of $55,770.00. Following the sale, the chief financial officer now owns 29,844 shares in the company, valued at approximately $2,219,199.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,784 shares of company stock worth $3,455,642. Company insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PLMR shares. Truist Financial raised their price objective on shares of Palomar from $72.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, February 16th. JMP Securities restated a “market perform” rating on shares of Palomar in a research note on Monday, April 15th. Evercore ISI increased their price objective on Palomar from $68.00 to $86.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Piper Sandler upped their target price on shares of Palomar from $80.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Finally, Jefferies Financial Group upgraded shares of Palomar from a “hold” rating to a “buy” rating and lifted their price target for the stock from $78.00 to $88.00 in a research note on Thursday, March 14th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $87.50.

Palomar Company Profile

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.