Root (ROOT) Scheduled to Post Quarterly Earnings on Wednesday

Root (NASDAQ:ROOT) will post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Root to post earnings of ($0.61) per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Root (NASDAQ:ROOT) last issued its earnings results on Wednesday, August 7th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.74) by $1.22. Root had a negative return on equity of 50.80% and a negative net margin of 9.81%. The firm had revenue of $289.20 million for the quarter, compared to analysts’ expectations of $264.80 million. During the same quarter last year, the firm earned ($2.55) earnings per share. The firm’s revenue for the quarter was up 286.6% compared to the same quarter last year. On average, analysts expect Root to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Root Price Performance

Shares of Root stock opened at $37.81 on Monday. Root has a twelve month low of $7.22 and a twelve month high of $86.57. The stock has a market capitalization of $563.37 million, a P/E ratio of -4.87 and a beta of 2.53. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.98. The business’s fifty day moving average price is $40.70 and its 200 day moving average price is $51.60.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Cantor Fitzgerald upgraded Root to a “strong-buy” rating in a report on Thursday, October 3rd. JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of Root in a research report on Tuesday, October 15th. Jefferies Financial Group cut their price objective on Root from $84.00 to $72.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $82.00 price objective (down from $88.00) on shares of Root in a research report on Friday, August 16th. Finally, Wells Fargo & Company cut their price objective on Root from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.63.

Root Company Profile

Root, Inc provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. It operates a direct-to-consumer model; and serves customers primarily through mobile applications, as well as through its website. The company's direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.