Brokerages Expect Assurant, Inc. (NYSE:AIZ) Will Post Earnings of $2.09 Per Share

Equities research analysts predict that Assurant, Inc. (NYSE:AIZ) will announce $2.09 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Assurant’s earnings. The lowest EPS estimate is $1.91 and the highest is $2.29. Assurant reported earnings per share of $1.41 during the same quarter last year, which indicates a positive year over year growth rate of 48.2%. The firm is scheduled to report its next quarterly earnings results on Monday, November 1st.

On average, analysts expect that Assurant will report full-year earnings of $9.93 per share for the current financial year, with EPS estimates ranging from $9.80 to $10.20. For the next financial year, analysts forecast that the business will post earnings of $12.15 per share, with EPS estimates ranging from $12.00 to $12.28. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Assurant.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Monday, August 2nd. The financial services provider reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.50. Assurant had a return on equity of 9.05% and a net margin of 4.74%. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.38 billion.

A number of equities research analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on Assurant from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, August 16th. William Blair assumed coverage on Assurant in a report on Friday, July 23rd. They set an “outperform” rating and a $152.41 price objective for the company. Finally, Bank of America began coverage on Assurant in a report on Friday, May 21st. They set a “buy” rating and a $207.00 price objective for the company.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AIZ. BlackRock Inc. raised its position in shares of Assurant by 9.5% in the first quarter. BlackRock Inc. now owns 5,363,868 shares of the financial services provider’s stock valued at $760,437,000 after buying an additional 463,974 shares in the last quarter. Vanguard Group Inc. raised its position in Assurant by 5.2% during the second quarter. Vanguard Group Inc. now owns 7,124,917 shares of the financial services provider’s stock valued at $1,112,770,000 after purchasing an additional 350,826 shares in the last quarter. Schroder Investment Management Group raised its position in Assurant by 45.1% during the first quarter. Schroder Investment Management Group now owns 1,091,742 shares of the financial services provider’s stock valued at $154,776,000 after purchasing an additional 339,146 shares in the last quarter. Bank of New York Mellon Corp raised its position in Assurant by 14.5% during the second quarter. Bank of New York Mellon Corp now owns 2,300,723 shares of the financial services provider’s stock valued at $359,326,000 after purchasing an additional 291,234 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC acquired a new position in Assurant during the first quarter valued at approximately $29,415,000. Institutional investors own 95.81% of the company’s stock.

Shares of NYSE:AIZ traded down $0.99 during trading on Thursday, reaching $162.92. 440,185 shares of the stock were exchanged, compared to its average volume of 396,667. Assurant has a 12 month low of $116.11 and a 12 month high of $172.22. The firm has a market cap of $9.58 billion, a PE ratio of 21.41, a PEG ratio of 0.94 and a beta of 0.66. The stock has a 50-day moving average price of $162.37 and a 200-day moving average price of $155.29. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.43.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 21st. Stockholders of record on Monday, August 30th will be given a $0.66 dividend. The ex-dividend date of this dividend is Friday, August 27th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.62%. Assurant’s payout ratio is 30.59%.

About Assurant

Assurant, Inc engages in the provision of risk management solutions. It operates through the following segments: Global Housing, Global Lifestyle and Global Preneed. The Global Housing segment provides lender-placed homeowners, multi-family housing and mortgage solutions. The Global Lifestyle segment offers mobile device protection products, related & extended service products and related services for consumer electronics & appliances, vehicle protection services, and credit insurance.

See Also: What is the yield curve?

Get a free copy of the Zacks research report on Assurant (AIZ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Assurant (NYSE:AIZ)

Receive News & Ratings for Assurant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Assurant and related companies with MarketBeat.com's FREE daily email newsletter.