Zacks reiterated their neutral rating on shares of Protective Life Corp. (NYSE:PL) in a research report sent to investors on Tuesday morning, AnalystRatingsNetwork reports. The firm currently has a $51.00 price target on the stock.
Zacks’ analyst wrote, “Protective Life Corp.’s reported third quarter 2013 net operating earnings a penny ahead of the Zacks Consensus Estimate. Earnings also surged 29% year over year. The earnings beat came from strong contribution from Protective Life’s Stable Value Products and Asset Protection segment. Protective Life boasts a diversified business profile and superior operating profitability. Recent acquisitions have enabled the company to enter new regions. Protective Life has also been changing its sales mix to improve life insurance margins and reduce interest rate exposure. However, headwinds such as weakness in Life marketing business and low interest rates will continue to weigh on the results. A strong balance sheet with adequate risk adjusted capitalization at each of its operating entities is another positive. We thus maintain our Neutral recommendation on Protective Life. “
Protective Life Corp. (NYSE:PL) traded up 0.03% during mid-day trading on Tuesday, hitting $48.095. The stock had a trading volume of 166,137 shares. Protective Life Corp. has a 52 week low of $26.70 and a 52 week high of $48.88. The stock has a 50-day moving average of $46.73 and a 200-day moving average of $42.89. The company has a market cap of $3.779 billion and a P/E ratio of 11.40.
Protective Life Corp. (NYSE:PL) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.96 by $0.19. During the same quarter last year, the company posted $0.73 earnings per share. On average, analysts predict that Protective Life Corp. will post $3.96 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG raised their price target on shares of Protective Life Corp. from $48.00 to $54.00 in a research note to investors on Tuesday. They now have a buy rating on the stock. Analysts at Barclays initiated coverage on shares of Protective Life Corp. in a research note to investors on Wednesday, October 2nd. They set an overweight rating and a $52.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $46.00.
Protective Life Corporation is a holding company. The Company, along with its subsidiaries, provides financial services through the production, distribution, and administration of insurance and investment products.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.