Brokers expect Heritage Insurance Holdings, Inc. (NYSE:HRTG – Get Rating) to report sales of $153.74 million for the current quarter, according to Zacks. Two analysts made earnings estimates for Heritage Insurance. The lowest sales estimate is $141.01 million and the highest is $166.46 million. Heritage Insurance reported sales of $147.24 million in the same quarter last year, indicating a positive year-over-year growth rate of 4.4%. The company is due to release its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Heritage Insurance to report annual revenue of $649.70 million for the current fiscal year, with estimates ranging from $627.88 million to $671.52 million. of dollars. For next year, analysts expect the company to record sales of $701.39 million, with estimates ranging from $691.50 to $711.27 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts who cover Heritage Insurance.
Heritage Insurance (NYSE:HRTG – Get Rating) last released its results on Monday, March 7. The insurance provider reported earnings per share of $0.41 for the quarter, beating Thomson Reuters consensus estimate of $0.18 from $0.23. Heritage Insurance posted a negative return on equity of 3.56% and a negative net margin of 11.83%. The company posted revenue of $166.71 million for the quarter, compared to $163.83 million expected by analysts. In the same quarter a year earlier, the company posted EPS of $0.10.
Several equity research analysts have recently released reports on HRTG shares. Zacks Investment Research upgraded Heritage Insurance from a “hold” rating to a “buy” rating and set a price target of $7.00 for the company in a Friday, March 11 report. StockNews.com began covering Heritage Insurance in a Thursday, March 31 report. They set a “buy” rating for the company.
NYSE: HRTG opened at $6.08 on Wednesday. The company has a debt ratio of 0.35, a current ratio of 0.68 and a quick ratio of 0.68. Heritage Insurance has a fifty-two week minimum of $5.30 and a fifty-two week maximum of $10.78. The stock’s 50-day moving average is $6.27 and its two-hundred-day moving average is $6.39. The stock has a market capitalization of $163.04 million, a PE ratio of -2.24 and a beta of 0.54.
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 6. Investors of record on Thursday, March 17 received a dividend of $0.06. The ex-dividend date was Wednesday, March 16. This represents an annualized dividend of $0.24 and a yield of 3.95%. Heritage Insurance’s dividend payout ratio (DPR) is currently -8.86%.
Hedge funds have recently changed their holdings in the company. Point72 Hong Kong Ltd acquired a new position in shares of Heritage Insurance during the third quarter worth approximately $27,000. Herold Advisors Inc. purchased a new stake in the shares of Heritage Insurance during the third quarter valued at approximately $34,000. Ensign Peak Advisors Inc purchased a new stake in the shares of Heritage Insurance during the fourth quarter, valued at approximately $39,000. Citigroup Inc. increased its position in Heritage Insurance shares by 105.7% during the fourth quarter. Citigroup Inc. now owns 7,149 shares of the insurance provider valued at $42,000 after purchasing an additional 3,673 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in Heritage Insurance shares by 65.7% during the third 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 hold 60.85% of the company’s shares.
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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