Zacks: Brokerages Expect W. R. Berkley Corp (NYSE:WRB) Will Announce Quarterly Sales of $1.91 Billion

Wall Street brokerages expect W. R. Berkley Corp (NYSE:WRB) to report $1.91 billion in sales for the current quarter, according to Zacks. Two analysts have issued estimates for W. R. Berkley’s earnings. The lowest sales estimate is $1.89 billion and the highest is $1.94 billion. W. R. Berkley posted sales of $1.92 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.5%. The business is expected to report its next earnings results after the market closes on Tuesday, October 22nd.

On average, analysts expect that W. R. Berkley will report full year sales of $7.60 billion for the current fiscal year, with estimates ranging from $7.51 billion to $7.73 billion. For the next year, analysts anticipate that the firm will post sales of $7.96 billion, with estimates ranging from $7.70 billion to $8.24 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow W. R. Berkley.

W. R. Berkley (NYSE:WRB) last posted its quarterly earnings results on Tuesday, July 23rd. The insurance provider reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.18. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.63 billion. W. R. Berkley had a net margin of 8.81% and a return on equity of 10.55%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.40 earnings per share.

A number of research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of W. R. Berkley from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Saturday, July 27th. Morgan Stanley upped their price target on shares of W. R. Berkley from $63.00 to $73.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Royal Bank of Canada increased their target price on shares of W. R. Berkley to $68.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Deutsche Bank cut shares of W. R. Berkley from a “hold” rating to a “sell” rating and set a $65.71 target price on the stock. in a report on Wednesday, June 26th. Finally, Buckingham Research increased their target price on shares of W. R. Berkley from $63.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $65.20.

Shares of NYSE WRB traded down $1.12 during mid-day trading on Friday, reaching $71.11. The company had a trading volume of 408,585 shares, compared to its average volume of 559,942. The business’s 50-day moving average is $71.72 and its 200-day moving average is $67.91. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.46. The stock has a market cap of $13.23 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 2.78 and a beta of 0.69. W. R. Berkley has a 52 week low of $45.91 and a 52 week high of $73.26.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 19th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Wednesday, September 18th. W. R. Berkley’s payout ratio is 16.48%.

A number of institutional investors have recently modified their holdings of the business. Hanson McClain Inc. raised its position in shares of W. R. Berkley by 50.0% in the 2nd quarter. Hanson McClain Inc. now owns 525 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 175 shares during the last quarter. Johnson Financial Group Inc. raised its position in shares of W. R. Berkley by 49.9% in the 2nd quarter. Johnson Financial Group Inc. now owns 553 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 184 shares during the last quarter. Asset Dedication LLC raised its position in shares of W. R. Berkley by 49.9% in the 2nd quarter. Asset Dedication LLC now owns 571 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 190 shares during the last quarter. US Bancorp DE raised its position in shares of W. R. Berkley by 30.4% in the 2nd quarter. US Bancorp DE now owns 833 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 194 shares during the last quarter. Finally, Bedel Financial Consulting Inc. raised its position in shares of W. R. Berkley by 50.2% in the 2nd quarter. Bedel Financial Consulting Inc. now owns 619 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 207 shares during the last quarter. Institutional investors own 70.65% of the company’s stock.

W. R. Berkley Company Profile

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.

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Earnings History and Estimates for W. R. Berkley (NYSE:WRB)

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