Everest Group (NYSE:EG) Announces Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Everest Group (NYSE:EG) announced its quarterly earnings data on Wednesday. The company reported $16.85 EPS for the quarter, missing analysts’ consensus estimates of $16.97 by ($0.12), Briefing.com reports. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The company’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $15.21 earnings per share.

Everest Group Stock Performance

EG stock traded down $25.89 during trading on Thursday, reaching $366.98. 602,240 shares of the stock were exchanged, compared to its average volume of 331,290. Everest Group has a twelve month low of $343.36 and a twelve month high of $417.92. The company has a market capitalization of $15.95 billion, a P/E ratio of 5.46, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63. The stock has a 50 day simple moving average of $381.61 and a 200-day simple moving average of $377.97. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.25.

Everest Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This is an increase from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 dividend on an annualized basis and a yield of 2.18%. Everest Group’s dividend payout ratio (DPR) is 11.89%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EG. Keefe, Bruyette & Woods lowered their price objective on shares of Everest Group from $457.00 to $454.00 and set an “outperform” rating on the stock in a research report on Friday, July 12th. Bank of America upped their price target on shares of Everest Group from $470.00 to $493.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Wells Fargo & Company reduced their price objective on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. Finally, Morgan Stanley cut their price target on Everest Group from $450.00 to $445.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $437.40.

Everest Group Company Profile

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance 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.