Brokerages expect Hallmark Financial Services, Inc. (NASDAQ:HALL) to post $117.45 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Hallmark Financial Services’ earnings, with the highest sales estimate coming in at $118.19 million and the lowest estimate coming in at $116.70 million. Hallmark Financial Services posted sales of $94.62 million during the same quarter last year, which suggests a positive year-over-year growth rate of 24.1%. The company is scheduled to report its next earnings report on Wednesday, November 6th.
On average, analysts expect that Hallmark Financial Services will report full-year sales of $454.97 million for the current year, with estimates ranging from $453.20 million to $456.74 million. For the next year, analysts expect that the business will report sales of $510.54 million, with estimates ranging from $504.20 million to $516.88 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Hallmark Financial Services.
A number of brokerages have commented on HALL. BidaskClub upgraded Hallmark Financial Services from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. ValuEngine cut Hallmark Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. TheStreet upgraded Hallmark Financial Services from a “c” rating to a “b” rating in a research note on Wednesday, May 29th. Raymond James boosted their price objective on Hallmark Financial Services from $15.00 to $18.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Finally, Boenning Scattergood upgraded Hallmark Financial Services from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $13.00 to $14.00 in a research note on Thursday, May 9th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. Hallmark Financial Services presently has a consensus rating of “Buy” and an average price target of $16.67.
Several institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its position in shares of Hallmark Financial Services by 547.1% during the first quarter. BNP Paribas Arbitrage SA now owns 2,763 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 2,336 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of Hallmark Financial Services during the second quarter worth about $398,000. BlackRock Inc. increased its position in shares of Hallmark Financial Services by 2.4% during the fourth quarter. BlackRock Inc. now owns 825,859 shares of the insurance provider’s stock worth $8,828,000 after acquiring an additional 19,327 shares during the last quarter. Teton Advisors Inc. increased its position in shares of Hallmark Financial Services by 3.4% during the second quarter. Teton Advisors Inc. now owns 195,270 shares of the insurance provider’s stock worth $2,779,000 after acquiring an additional 6,340 shares during the last quarter. Finally, Cove Street Capital LLC increased its position in shares of Hallmark Financial Services by 1.4% during the first quarter. Cove Street Capital LLC now owns 1,685,981 shares of the insurance provider’s stock worth $17,534,000 after acquiring an additional 23,373 shares during the last quarter. Institutional investors own 60.88% of the company’s stock.
Shares of HALL traded down $0.25 during midday trading on Friday, reaching $16.98. 102,800 shares of the company were exchanged, compared to its average volume of 53,011. The stock has a 50-day moving average price of $15.24 and a 200-day moving average price of $12.31. The company has a market cap of $311.72 million, a price-to-earnings ratio of 16.81 and a beta of 0.63. Hallmark Financial Services has a 1-year low of $9.48 and a 1-year high of $18.10. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.30.
About Hallmark Financial Services
Hallmark Financial Services, Inc, through its subsidiaries, underwrites, markets, distributes, and services property/casualty insurance products to businesses and individuals in the United States. The company operates in the Specialty Commercial, Standard Commercial, and Personal segments. The Specialty Commercial segment markets, underwrites, finances, and services commercial lines of insurance products, including commercial automobile, general liability, commercial property, commercial excess liability, and commercial umbrella insurance products.
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