Everest Group, Ltd. (NYSE:EG – Free Report) – Investment analysts at Zacks Research lifted their FY2023 earnings estimates for Everest Group in a report issued on Thursday, September 21st. Zacks Research analyst T. De now forecasts that the company will post earnings of $47.08 per share for the year, up from their previous estimate of $46.96. The consensus estimate for Everest Group’s current full-year earnings is $47.72 per share. Zacks Research also issued estimates for Everest Group’s Q4 2023 earnings at $14.22 EPS, Q1 2024 earnings at $15.03 EPS, Q4 2024 earnings at $16.37 EPS, FY2024 earnings at $55.67 EPS, Q1 2025 earnings at $14.50 EPS and FY2025 earnings at $65.95 EPS.
Several other research firms have also commented on EG. Morgan Stanley reaffirmed an “overweight” rating and set a $429.00 price objective on shares of Everest Group in a research note on Tuesday, August 1st. Citigroup boosted their target price on shares of Everest Group from $406.00 to $408.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. The Goldman Sachs Group assumed coverage on shares of Everest Group in a research note on Friday, September 8th. They set a “buy” rating and a $449.00 target price for the company. Finally, Raymond James raised shares of Everest Group from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $420.00 to $450.00 in a research note on Friday, July 7th.
Everest Group Stock Down 0.2 %
NYSE EG opened at $391.80 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.37 and a quick ratio of 0.37. The stock’s fifty day moving average price is $363.77. The stock has a market capitalization of $17.00 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 0.27 and a beta of 0.61. Everest Group has a 52 week low of $244.57 and a 52 week high of $394.99.
Everest Group (NYSE:EG – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $15.21 EPS for the quarter, topping the consensus estimate of $11.10 by $4.11. The company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.61 billion. Everest Group had a net margin of 9.14% and a return on equity of 14.92%. During the same period in the previous year, the firm earned $9.79 earnings per share.
Everest Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th will be paid a dividend of $1.75 per share. This is a positive change from Everest Group’s previous quarterly dividend of $1.65. This represents a $7.00 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Monday, September 18th. Everest Group’s payout ratio is currently 23.33%.
Everest Group Company Profile
Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Bermuda, and internationally. The company operates through Reinsurance Operations and Insurance Operations segments. The Reinsurance Operations 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.
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