Zacks: Brokerages Anticipate ProAssurance Co. (PRA) to Post $0.43 Earnings Per Share

Brokerages forecast that ProAssurance Co. (NYSE:PRA) will report earnings per share of $0.43 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for ProAssurance’s earnings, with the lowest EPS estimate coming in at $0.39 and the highest estimate coming in at $0.46. ProAssurance reported earnings of $0.62 per share during the same quarter last year, which would suggest a negative year over year growth rate of 30.6%. The business is scheduled to report its next earnings results after the market closes on Thursday, May 3rd.

According to Zacks, analysts expect that ProAssurance will report full year earnings of $1.88 per share for the current year, with EPS estimates ranging from $1.75 to $1.95. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.90 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for ProAssurance.

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ProAssurance (NYSE:PRA) last posted its quarterly earnings results on Wednesday, February 21st. The insurance provider reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.07). The company had revenue of $209.12 million for the quarter, compared to the consensus estimate of $217.03 million. ProAssurance had a net margin of 12.38% and a return on equity of 6.11%. ProAssurance’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS.

Several equities analysts recently weighed in on PRA shares. Zacks Investment Research upgraded shares of ProAssurance from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Friday, January 5th. TheStreet lowered shares of ProAssurance from a “b” rating to a “c+” rating in a research report on Friday, March 9th. Keefe, Bruyette & Woods set a $52.00 target price on shares of ProAssurance and gave the stock a “hold” rating in a research report on Tuesday, April 10th. Sandler O’Neill reiterated a “hold” rating and set a $50.00 target price on shares of ProAssurance in a research report on Friday, April 6th. Finally, SunTrust Banks lowered shares of ProAssurance from a “buy” rating to a “hold” rating in a research report on Wednesday, April 4th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $54.75.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in ProAssurance by 3.1% during the fourth quarter. BlackRock Inc. now owns 5,573,593 shares of the insurance provider’s stock worth $318,531,000 after purchasing an additional 169,585 shares during the period. Victory Capital Management Inc. boosted its position in ProAssurance by 6.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,563,210 shares of the insurance provider’s stock worth $89,338,000 after purchasing an additional 93,160 shares during the period. Goldman Sachs Group Inc. boosted its position in ProAssurance by 7.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,211,339 shares of the insurance provider’s stock worth $69,229,000 after purchasing an additional 79,302 shares during the period. Eagle Asset Management Inc. lifted its holdings in shares of ProAssurance by 7.2% in the fourth quarter. Eagle Asset Management Inc. now owns 763,740 shares of the insurance provider’s stock worth $43,334,000 after buying an additional 51,022 shares in the last quarter. Finally, Carillon Tower Advisers Inc. purchased a new stake in shares of ProAssurance in the fourth quarter worth about $37,292,000. Hedge funds and other institutional investors own 82.56% of the company’s stock.

PRA opened at $47.15 on Monday. The stock has a market cap of $2,520.50, a P/E ratio of 23.34 and a beta of 0.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.46 and a quick ratio of 0.46. ProAssurance has a fifty-two week low of $45.20 and a fifty-two week high of $63.45.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 18th. Shareholders of record on Thursday, March 29th were given a dividend of $0.31 per share. The ex-dividend date was Wednesday, March 28th. This represents a $1.24 dividend on an annualized basis and a yield of 2.63%. ProAssurance’s dividend payout ratio is presently 61.39%.

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ProAssurance Company Profile

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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Earnings History and Estimates for ProAssurance (NYSE:PRA)

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