W. R. Berkley Corp (WRB) Expected to Post Quarterly Sales of $1.80 Billion

Equities research analysts expect that W. R. Berkley Corp (NYSE:WRB) will post sales of $1.80 billion for the current quarter, according to Zacks. Two analysts have provided estimates for W. R. Berkley’s earnings. W. R. Berkley posted sales of $1.77 billion during the same quarter last year, which suggests a positive year over year growth rate of 1.7%. The company is scheduled to report its next quarterly earnings results after the market closes on Tuesday, April 23rd.

According to Zacks, analysts expect that W. R. Berkley will report full-year sales of $7.38 billion for the current year, with estimates ranging from $7.32 billion to $7.46 billion. For the next year, analysts anticipate that the firm will report sales of $7.71 billion, with estimates ranging from $7.62 billion to $7.84 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover W. R. Berkley.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings results on Tuesday, January 29th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.10. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. W. R. Berkley had a net margin of 8.33% and a return on equity of 9.39%.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of W. R. Berkley from a “hold” rating to a “sell” rating in a report on Monday, January 21st. ValuEngine downgraded shares of W. R. Berkley from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Credit Suisse Group upgraded shares of W. R. Berkley from a “neutral” rating to an “outperform” rating and raised their target price for the company from $51.67 to $58.67 in a report on Wednesday, February 27th. Finally, Morgan Stanley dropped their target price on shares of W. R. Berkley from $49.33 to $48.67 and set an “equal weight” rating for the company in a report on Thursday, January 3rd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. W. R. Berkley has a consensus rating of “Hold” and an average price target of $52.93.

A number of large investors have recently bought and sold shares of the business. M&T Bank Corp increased its holdings in W. R. Berkley by 1.4% during the 4th quarter. M&T Bank Corp now owns 10,608 shares of the insurance provider’s stock valued at $785,000 after acquiring an additional 144 shares in the last quarter. Visionary Asset Management Inc. boosted its stake in shares of W. R. Berkley by 4.2% during the 4th quarter. Visionary Asset Management Inc. now owns 3,671 shares of the insurance provider’s stock worth $271,000 after purchasing an additional 148 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of W. R. Berkley by 0.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 27,584 shares of the insurance provider’s stock worth $2,039,000 after purchasing an additional 151 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of W. R. Berkley by 4.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,071 shares of the insurance provider’s stock worth $301,000 after purchasing an additional 186 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of W. R. Berkley by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 25,800 shares of the insurance provider’s stock worth $2,186,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 72.63% of the company’s stock.

Shares of WRB opened at $58.35 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $10.68 billion, a PE ratio of 21.85, a P/E/G ratio of 2.52 and a beta of 0.75. W. R. Berkley has a 52-week low of $45.91 and a 52-week high of $58.78.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.40 annualized dividend and a yield of 0.69%. W. R. Berkley’s dividend payout ratio (DPR) is currently 14.98%.

About W. R. Berkley

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.

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