ProAssurance (NYSE:PRA) Issues Quarterly Earnings Results, Beats Estimates By $0.15 EPS

ProAssurance (NYSE:PRA) issued its quarterly earnings data on Thursday. The insurance provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.15, Briefing.com reports. The firm had revenue of $290.30 million for the quarter, compared to analyst estimates of $235.61 million. ProAssurance had a negative net margin of 2.42% and a positive return on equity of 0.59%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS.

ProAssurance Trading Up 16.3 %

NYSE PRA traded up $1.88 during trading hours on Friday, hitting $13.42. The company’s stock had a trading volume of 590,129 shares, compared to its average volume of 291,682. ProAssurance has a twelve month low of $10.76 and a twelve month high of $19.25. The firm has a market capitalization of $684.58 million, a P/E ratio of -24.85 and a beta of 0.23. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average of $12.27 and a 200 day moving average of $12.97.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PRA. JMP Securities lowered their price target on shares of ProAssurance from $22.00 to $20.00 and set a “market outperform” rating for the company in a report on Wednesday, July 17th. Truist Financial lifted their target price on ProAssurance from $14.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, ProAssurance currently has an average rating of “Moderate Buy” and an average price target of $17.00.

About ProAssurance

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.