ProAssurance (NYSE:PRA) Releases Earnings Results, Beats Estimates By $0.04 EPS

ProAssurance (NYSE:PRA) posted its quarterly earnings results on Monday. The insurance provider reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04, Briefing.com reports. ProAssurance had a negative net margin of 3.39% and a negative return on equity of 0.53%. The business had revenue of $284.97 million during the quarter, compared to analysts’ expectations of $233.62 million. During the same period last year, the company posted ($0.15) earnings per share. The business’s quarterly revenue was up 4.5% on a year-over-year basis.

ProAssurance Stock Performance

Shares of ProAssurance stock opened at $14.19 on Tuesday. The stock has a fifty day simple moving average of $12.85 and a 200 day simple moving average of $13.53. ProAssurance has a 12-month low of $11.76 and a 12-month high of $19.38. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.38.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PRA shares. Piper Sandler cut their price target on ProAssurance from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Monday, March 4th. JMP Securities restated a “market outperform” rating and set a $22.00 price objective on shares of ProAssurance in a report on Monday, April 15th. Finally, Truist Financial dropped their price objective on shares of ProAssurance from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, ProAssurance presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

About ProAssurance

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.