FBR & Co Analysts Reduce Earnings Estimates for AmTrust Financial Services, Inc. (AFSI)

AmTrust Financial Services, Inc. (NASDAQ:AFSI) – Investment analysts at FBR & Co lowered their FY2017 earnings estimates for AmTrust Financial Services in a research note issued on Tuesday. FBR & Co analyst R. Binner now anticipates that the insurance provider will post earnings per share of $1.15 for the year, down from their prior estimate of $1.35.

AmTrust Financial Services (NASDAQ:AFSI) last released its quarterly earnings results on Tuesday, August 8th. The insurance provider reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. AmTrust Financial Services had a return on equity of 14.26% and a net margin of 5.14%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the firm posted $0.77 EPS. AmTrust Financial Services’s quarterly revenue was up 8.2% compared to the same quarter last year.

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A number of other equities analysts have also weighed in on the company. Zacks Investment Research raised AmTrust Financial Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine lowered AmTrust Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub lowered AmTrust Financial Services from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. TheStreet lowered AmTrust Financial Services from a “c” rating to a “d” rating in a research note on Wednesday, July 19th. Finally, JMP Securities assumed coverage on AmTrust Financial Services in a research note on Friday, July 7th. They set an “outperform” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $19.50.

Shares of AmTrust Financial Services (NASDAQ:AFSI) opened at 13.74 on Wednesday. AmTrust Financial Services has a 12-month low of $11.36 and a 12-month high of $28.48. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 13.35 and a beta of 1.24. The company’s 50-day moving average price is $13.02 and its 200 day moving average price is $14.55.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in AmTrust Financial Services by 33.6% in the first quarter. Vanguard Group Inc. now owns 8,667,061 shares of the insurance provider’s stock valued at $159,994,000 after purchasing an additional 2,181,846 shares during the period. Royal Bank of Canada raised its position in AmTrust Financial Services by 20.3% in the second quarter. Royal Bank of Canada now owns 4,012,368 shares of the insurance provider’s stock valued at $60,748,000 after purchasing an additional 676,537 shares during the period. State Street Corp raised its position in AmTrust Financial Services by 54.1% in the second quarter. State Street Corp now owns 3,292,917 shares of the insurance provider’s stock valued at $49,854,000 after purchasing an additional 1,156,431 shares during the period. Denver Investment Advisors LLC raised its position in AmTrust Financial Services by 47.7% in the second quarter. Denver Investment Advisors LLC now owns 2,262,970 shares of the insurance provider’s stock valued at $34,261,000 after purchasing an additional 731,249 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in AmTrust Financial Services by 11.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,037,464 shares of the insurance provider’s stock valued at $37,612,000 after purchasing an additional 215,905 shares during the period. Institutional investors own 36.82% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be given a $0.17 dividend. The ex-dividend date is Friday, September 29th. This represents a $0.68 dividend on an annualized basis and a yield of 4.95%. AmTrust Financial Services’s dividend payout ratio is currently 51.13%.

About AmTrust Financial Services

Amtrust Financial Services, Inc (AmTrust) is an insurance holding company. The Company, through its subsidiaries, provides specialty property and casualty insurance focusing on workers’ compensation and commercial package coverage for small business, specialty risk and extended warranty coverage, and property and casualty coverage for middle market business.

Earnings History and Estimates for AmTrust Financial Services (NASDAQ:AFSI)

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