Wall Street analysts expect Heritage Insurance Holdings, Inc. (NYSE: HRTG – Get Rating) to report earnings of $0.15 per share for the current fiscal quarter, Zacks reports. Two analysts released earnings estimates for Heritage Insurance. The highest EPS estimate is $0.20 and the lowest is $0.09. Heritage Insurance reported earnings per share of ($0.14) in the same quarter last year, which would indicate a positive year-over-year growth rate of 207.1%. The company is expected to release its next quarterly earnings report on Monday, January 1.
On average, analysts expect Heritage Insurance to report annual earnings of ($0.44) per share for the current fiscal year. For the next fiscal year, analysts expect the company to post earnings of $0.63 per share, with EPS estimates ranging from $0.45 to $0.80. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts who cover Heritage Insurance.
Heritage Insurance (NYSE:HRTG – Get Rating) last released quarterly results on Thursday, May 5. The insurance provider reported ($1.15) earnings per share for the quarter, missing analyst consensus estimates of $0.13 per ($1.28). Heritage Insurance posted a negative return on equity of 10.19% and a negative net margin of 15.61%. During the same period of the previous year, the company posted an EPS of ($0.19).
Several research firms have weighed in on HRTG. StockNews.com downgraded the shares of Heritage Insurance from a “buy” rating to a “hold” rating in a Tuesday, May 3 research report. Zacks Investment Research downgraded shares of Heritage Insurance from a “buy” rating to a “hold” rating in a Wednesday, May 4 research report. Finally, TheStreet downgraded shares of Heritage Insurance from a “c-” rating to a “d+” rating in a Tuesday, May 3 research report. Two analysts rated the stock with a hold rating and two gave the company a buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $9.50.
A number of hedge funds and other institutional investors have recently changed their positions in the company. Credit Suisse AG increased its stake in Heritage Insurance by 8.3% in the third quarter. Credit Suisse AG now owns 20,589 shares of the insurance provider valued at $139,000 after acquiring an additional 1,584 shares during the period. Advisory Services Network LLC increased its stake in Heritage Insurance by 8.2% in the third quarter. Advisory Services Network LLC now owns 22,679 shares of the insurance provider valued at $154,000 after acquiring an additional 1,722 shares during the period. Invesco Ltd. increased its stake in Heritage Insurance by 5.1% during the 3rd quarter. Invesco Ltd. now owns 63,997 shares of the insurance provider valued at $435,000 after acquiring an additional 3,078 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Heritage Insurance by 12.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 30,155 shares of the insurance provider valued at $177,000 after acquiring an additional 3,304 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in the shares of Heritage Insurance by 65.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,431 shares of the insurance provider valued at $57,000 after purchasing an additional 3,344 shares during the period. Institutional investors and hedge funds hold 59.33% of the company’s shares.
NYSE: HRTG was down $0.06 during Monday trading hours, hitting $3.66. 453 shares of the company were traded, against an average volume of 207,389. The stock has a market capitalization of $96.88 million, a price-earnings ratio of -1.00 and a beta of 0.80. Heritage Insurance has a 52-week minimum of $3.55 and a 52-week maximum of $9.41. The company has a debt ratio of 0.35, a current ratio of 0.68 and a quick ratio of 0.68. The company’s 50-day moving average price is $6.10 and its 200-day moving average price is $6.20.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 5. Shareholders of record on Tuesday, June 14 will receive a dividend of $0.06 per share. This represents an annualized dividend of $0.24 and a yield of 6.56%. The ex-dividend date is Monday, June 13. Heritage Insurance’s payout ratio is -6.54%.
About Legacy Insurance (Get a rating)
Heritage Insurance Holdings, Inc., through its subsidiaries, offers personal and commercial home insurance products. The company offers personal residential property insurance for single family homeowners and condominium owners, as well as rental property insurance in the states of Alabama, California, Connecticut, Delaware, Florida , Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey and New York; and licensed in the State of Pennsylvania, as well as residential property and personal wind insurance.
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