Everest Group (NYSE:EG) Announces Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Everest Group (NYSE:EG) announced its quarterly earnings data on Wednesday. The company reported $16.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $16.97 by ($0.12), Briefing.com reports. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.32 billion. During the same period in the prior year, the company posted $15.21 EPS. The firm’s revenue was up 15.8% on a year-over-year basis.

Everest Group Stock Performance

Everest Group stock traded down $25.89 during midday trading on Thursday, hitting $366.98. 602,240 shares of the company’s stock were exchanged, compared to its average volume of 331,290. Everest Group has a 12-month low of $343.36 and a 12-month high of $417.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market cap of $15.95 billion, a price-to-earnings ratio of 5.46, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63. The firm’s 50 day simple moving average is $381.61 and its 200 day simple moving average is $377.97.

Everest Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th were given a dividend of $2.00 per share. This is an increase from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 annualized dividend and a yield of 2.18%. The ex-dividend date was Wednesday, May 29th. Everest Group’s dividend payout ratio (DPR) is presently 11.89%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on EG shares. Bank of America boosted their target price on shares of Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company reduced their target price on shares of Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Morgan Stanley reduced their target price on shares of Everest Group from $450.00 to $445.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Everest Group from $457.00 to $454.00 and set an “outperform” rating on the stock in a report on Friday, July 12th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $437.40.

Everest Group Company Profile

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.