ProAssurance (NYSE:PRA) Releases Earnings Results, Beats Estimates By $0.15 EPS

ProAssurance (NYSE:PRA) released its earnings results on Thursday. The insurance provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.15, Briefing.com reports. The firm had revenue of $290.30 million for the quarter, compared to analysts’ expectations of $235.61 million. ProAssurance had a positive return on equity of 0.59% and a negative net margin of 2.42%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.16 earnings per share.

ProAssurance Trading Up 16.3 %

NYSE PRA traded up $1.88 on Friday, reaching $13.42. The company had a trading volume of 590,129 shares, compared to its average volume of 291,682. The firm has a market cap of $684.58 million, a price-to-earnings ratio of -24.85 and a beta of 0.23. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.26 and a quick ratio of 0.26. ProAssurance has a fifty-two week low of $10.76 and a fifty-two week high of $19.25. The business has a 50 day moving average of $12.27 and a two-hundred day moving average of $12.97.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PRA. Truist Financial raised their price objective on ProAssurance from $14.00 to $16.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. JMP Securities reduced their price target on ProAssurance from $22.00 to $20.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, ProAssurance currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

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, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.