Analysts expect that ProAssurance Corporation (NYSE:PRA) will report $0.62 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have made estimates for ProAssurance Corporation’s earnings, with the lowest EPS estimate coming in at $0.58 and the highest estimate coming in at $0.68. ProAssurance Corporation reported earnings of $0.83 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 25.3%. The firm is expected to announce its next quarterly earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that ProAssurance Corporation will report full year earnings of $2.09 per share for the current fiscal year, with EPS estimates ranging from $2.05 to $2.15. For the next financial year, analysts forecast that the business will report earnings of $2.10 per share, with EPS estimates ranging from $2.05 to $2.20. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover ProAssurance Corporation.
ProAssurance Corporation (NYSE:PRA) last posted its quarterly earnings results on Monday, November 6th. The insurance provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The company had revenue of $228.50 million for the quarter, compared to analysts’ expectations of $215.12 million. ProAssurance Corporation had a net margin of 16.18% and a return on equity of 6.75%. ProAssurance Corporation’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 EPS.
A number of equities research analysts recently commented on PRA shares. Buckingham Research started coverage on shares of ProAssurance Corporation in a report on Monday, September 11th. They issued a “neutral” rating and a $54.00 price target on the stock. BidaskClub cut shares of ProAssurance Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $60.00 price target on shares of ProAssurance Corporation in a report on Monday, October 16th. Zacks Investment Research raised shares of ProAssurance Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of ProAssurance Corporation in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $60.75.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in ProAssurance Corporation by 2.4% in the 2nd quarter. BlackRock Inc. now owns 5,318,451 shares of the insurance provider’s stock valued at $323,363,000 after buying an additional 124,034 shares in the last quarter. Vanguard Group Inc. grew its stake in ProAssurance Corporation by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 5,051,135 shares of the insurance provider’s stock valued at $307,108,000 after buying an additional 50,372 shares in the last quarter. FMR LLC grew its stake in ProAssurance Corporation by 28.9% in the 2nd quarter. FMR LLC now owns 2,684,274 shares of the insurance provider’s stock valued at $163,204,000 after buying an additional 602,115 shares in the last quarter. JPMorgan Chase & Co. grew its stake in ProAssurance Corporation by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,142,632 shares of the insurance provider’s stock valued at $116,988,000 after buying an additional 24,219 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its position in shares of ProAssurance Corporation by 1.3% during the 3rd quarter. TimesSquare Capital Management LLC now owns 2,037,585 shares of the insurance provider’s stock valued at $111,354,000 after purchasing an additional 25,905 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.
ProAssurance Corporation (NYSE PRA) remained flat at $$59.45 during trading hours on Monday. The company had a trading volume of 119,624 shares, compared to its average volume of 125,949. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.22. The company has a market cap of $3,180.00, a P/E ratio of 26.13 and a beta of 0.54. ProAssurance Corporation has a 52 week low of $50.70 and a 52 week high of $63.53.
About ProAssurance Corporation
ProAssurance Corporation (ProAssurance) is a holding company for property and casualty insurance companies. The Company provides professional liability insurance for healthcare professionals and facilities, professional liability insurance for attorneys, liability insurance for medical technology and life sciences risks, and workers’ compensation insurance.
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