ProAssurance (NYSE:PRA) announced its quarterly earnings results on Sunday. The insurance provider reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.05, MarketWatch Earnings reports. The company had revenue of $229.60 million for the quarter, compared to analysts’ expectations of $210.54 million. ProAssurance had a negative net margin of 27.87% and a negative return on equity of 6.92%. ProAssurance’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.27) EPS.
ProAssurance stock traded up $0.59 during midday trading on Tuesday, hitting $24.49. The stock had a trading volume of 23,461 shares, compared to its average volume of 255,929. The firm’s fifty day moving average is $20.29 and its two-hundred day moving average is $16.96. The company has a market capitalization of $1.32 billion, a PE ratio of -5.28 and a beta of 0.26. ProAssurance has a 52-week low of $12.67 and a 52-week high of $32.37. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.21.
Several research firms have issued reports on PRA. Zacks Investment Research upgraded shares of ProAssurance from a “sell” rating to a “hold” rating and set a $23.00 target price on the stock in a research note on Thursday, February 11th. Boenning Scattergood restated a “neutral” rating on shares of ProAssurance in a research note on Tuesday, January 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $22.00.
ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through five segments: Specialty Property and Casualty, Workers' Compensation Insurance, Segregated Portfolio Cell Reinsurance, and Lloyd's Syndicate.
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