Boenning Scattergood Equities Analysts Boost Earnings Estimates for Atlas Financial Holdings Inc (NASDAQ:AFH)

Atlas Financial Holdings Inc (NASDAQ:AFH) – Boenning Scattergood boosted their FY2018 earnings per share estimates for Atlas Financial in a research note issued on Tuesday, November 6th, according to Zacks Investment Research. Boenning Scattergood analyst R. Farnam now expects that the insurance provider will earn $1.75 per share for the year, up from their previous estimate of $1.70. Boenning Scattergood has a “Buy” rating on the stock.

Atlas Financial (NASDAQ:AFH) last posted its quarterly earnings results on Monday, November 5th. The insurance provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.19. Atlas Financial had a negative return on equity of 48.83% and a negative net margin of 16.44%. The company had revenue of $55.77 million for the quarter, compared to analysts’ expectations of $52.00 million.

AFH has been the topic of several other research reports. Zacks Investment Research raised Atlas Financial from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Thursday, November 8th. ValuEngine raised Atlas Financial from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Atlas Financial presently has a consensus rating of “Buy” and a consensus price target of $15.33.

Atlas Financial stock traded up $0.28 during midday trading on Friday, reaching $9.62. The company’s stock had a trading volume of 3,300 shares, compared to its average volume of 76,070. Atlas Financial has a fifty-two week low of $8.05 and a fifty-two week high of $21.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market cap of $111.49 million, a PE ratio of -2.59 and a beta of 1.04.

Hedge funds have recently modified their holdings of the business. Schwab Charles Investment Management Inc. grew its holdings in shares of Atlas Financial by 47.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 24,900 shares of the insurance provider’s stock worth $258,000 after buying an additional 8,000 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Atlas Financial by 7.5% during the first quarter. Northern Trust Corp now owns 118,076 shares of the insurance provider’s stock worth $1,222,000 after buying an additional 8,251 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Atlas Financial by 14.2% during the first quarter. Dimensional Fund Advisors LP now owns 382,027 shares of the insurance provider’s stock worth $3,954,000 after buying an additional 47,634 shares during the last quarter. Eidelman Virant Capital purchased a new position in shares of Atlas Financial during the second quarter worth about $175,000. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Atlas Financial by 26.6% during the second quarter. Wedge Capital Management L L P NC now owns 116,308 shares of the insurance provider’s stock worth $1,018,000 after buying an additional 24,457 shares during the last quarter. 75.13% of the stock is currently owned by institutional investors.

About Atlas Financial

Atlas Financial Holdings, Inc, through its subsidiaries, engages in underwriting commercial automobile insurance policies in the United States. Its automobile insurance products provide insurance coverage in three primary areas, including liability, accident benefits, and physical damage. The company focuses on the light commercial automobile sector, including taxi cabs, non-emergency para-transit, limousine, livery, and business autos.

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