Zacks: Analysts Expect ProAssurance Co. (PRA) to Post $0.33 Earnings Per Share

Analysts expect ProAssurance Co. (NYSE:PRA) to report earnings of $0.33 per share for the current quarter, according to Zacks. Three analysts have issued estimates for ProAssurance’s earnings, with estimates ranging from $0.30 to $0.35. ProAssurance posted earnings per share of $0.40 in the same quarter last year, which suggests a negative year over year growth rate of 17.5%. The business is scheduled to issue its next earnings results on Thursday, May 2nd.

According to Zacks, analysts expect that ProAssurance will report full year earnings of $1.40 per share for the current year, with EPS estimates ranging from $1.30 to $1.60. For the next year, analysts expect that the business will post earnings of $1.38 per share, with EPS estimates ranging from $1.35 to $1.40. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for ProAssurance.

ProAssurance (NYSE:PRA) last released its quarterly earnings data on Thursday, February 21st. The insurance provider reported $0.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. ProAssurance had a net margin of 5.31% and a return on equity of 5.09%. The firm had revenue of $228.92 million during the quarter, compared to analysts’ expectations of $230.73 million.

Several research firms recently issued reports on PRA. Boenning Scattergood restated a “hold” rating on shares of ProAssurance in a research report on Tuesday, February 5th. Zacks Investment Research upgraded shares of ProAssurance from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Finally, SunTrust Banks cut their price objective on shares of ProAssurance to $45.00 and set a “hold” rating for the company in a research report on Friday, December 14th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $49.40.

ProAssurance stock opened at $37.52 on Tuesday. ProAssurance has a 12-month low of $34.95 and a 12-month high of $50.78. The stock has a market cap of $2.01 billion, a P/E ratio of 25.35 and a beta of 0.65. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.19.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Friday, March 29th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, March 28th. ProAssurance’s payout ratio is currently 83.78%.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in ProAssurance by 2.4% during the third quarter. BlackRock Inc. now owns 7,644,426 shares of the insurance provider’s stock worth $358,906,000 after buying an additional 182,491 shares during the period. Vanguard Group Inc. boosted its stake in ProAssurance by 5.6% during the third quarter. Vanguard Group Inc. now owns 5,642,913 shares of the insurance provider’s stock worth $264,934,000 after buying an additional 300,330 shares during the period. Vanguard Group Inc boosted its stake in ProAssurance by 5.6% during the third quarter. Vanguard Group Inc now owns 5,642,913 shares of the insurance provider’s stock worth $264,934,000 after buying an additional 300,330 shares during the period. Dimensional Fund Advisors LP boosted its stake in ProAssurance by 6.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,167,475 shares of the insurance provider’s stock worth $101,762,000 after buying an additional 137,879 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in ProAssurance by 0.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,862,071 shares of the insurance provider’s stock worth $75,526,000 after buying an additional 6,638 shares during the period. Hedge funds and other institutional investors own 83.03% of the company’s stock.

ProAssurance Company Profile

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, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate segments.

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Earnings History and Estimates for ProAssurance (NYSE:PRA)

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