$233.93 Million in Sales Expected for RLI Corp (NYSE:RLI) This Quarter

Wall Street analysts expect RLI Corp (NYSE:RLI) to report $233.93 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for RLI’s earnings, with the lowest sales estimate coming in at $231.40 million and the highest estimate coming in at $236.45 million. RLI posted sales of $228.79 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.2%. The business is scheduled to report its next quarterly earnings report on Wednesday, October 21st.

According to Zacks, analysts expect that RLI will report full year sales of $931.55 million for the current fiscal year, with estimates ranging from $927.30 million to $935.80 million. For the next financial year, analysts anticipate that the business will report sales of $977.83 million, with estimates ranging from $934.60 million to $1.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover RLI.

RLI (NYSE:RLI) last issued its earnings results on Wednesday, July 22nd. The insurance provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.30. RLI had a return on equity of 12.03% and a net margin of 12.70%. The company had revenue of $225.65 million for the quarter, compared to analyst estimates of $233.31 million.

A number of research analysts have recently commented on the company. TheStreet raised RLI from a “c” rating to a “b” rating in a report on Wednesday, July 22nd. Zacks Investment Research raised RLI from a “hold” rating to a “strong-buy” rating and set a $104.00 price objective on the stock in a report on Wednesday. B. Riley increased their target price on RLI from $89.00 to $100.00 in a research note on Monday, June 15th. Finally, Royal Bank of Canada decreased their target price on RLI from $91.00 to $85.00 and set a “sector perform” rating for the company in a research note on Thursday, April 23rd. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $96.33.

RLI stock traded down $1.47 during mid-day trading on Tuesday, hitting $88.13. The stock had a trading volume of 352,012 shares, compared to its average volume of 211,289. The company has a current ratio of 0.38, a quick ratio of 0.36 and a debt-to-equity ratio of 0.14. RLI has a 1-year low of $66.02 and a 1-year high of $99.93. The company has a fifty day moving average of $82.46 and a 200 day moving average of $83.30. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 34.29 and a beta of 0.31.

In other RLI news, Director Michael J. Stone sold 1,360 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $80.39, for a total value of $109,330.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Stone sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $91.00, for a total value of $91,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,860 shares of company stock valued at $886,055. 5.06% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in RLI. Norges Bank bought a new stake in shares of RLI in the 4th quarter worth approximately $33,779,000. JPMorgan Chase & Co. lifted its position in shares of RLI by 8.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,768,961 shares of the insurance provider’s stock worth $155,545,000 after acquiring an additional 132,030 shares during the period. Van Berkom & Associates Inc. lifted its position in shares of RLI by 7.6% during the 1st quarter. Van Berkom & Associates Inc. now owns 925,202 shares of the insurance provider’s stock worth $81,353,000 after buying an additional 65,599 shares during the period. Eaton Vance Management lifted its position in shares of RLI by 31.5% during the 1st quarter. Eaton Vance Management now owns 228,974 shares of the insurance provider’s stock worth $20,133,000 after buying an additional 54,914 shares during the period. Finally, Mutual of America Capital Management LLC lifted its position in shares of RLI by 109.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 74,676 shares of the insurance provider’s stock worth $6,566,000 after buying an additional 39,013 shares during the period. Institutional investors own 84.13% of the company’s stock.

RLI Company Profile

RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.

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Earnings History and Estimates for RLI (NYSE:RLI)

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