Heritage Insurance Holdings, Inc. (NYSE:HRTG) is expected to post earnings of -$0.09 per share


Equity research analysts expect Heritage Insurance Holdings, Inc. (NYSE: HRTG – Get Rating) to report earnings per share of ($0.09) for the current quarter, according to Zacks Investment Research. Two analysts released earnings estimates for Heritage Insurance. The highest EPS estimate is $0.02 and the lowest is $0.19. Heritage Insurance reported earnings of ($0.14) per share in the same quarter last year, which would indicate a positive growth rate of 35.7% year over year. The company is expected to release its next results on Monday, January 1.

On average, analysts expect Heritage Insurance to report annual earnings of $1.35 per share for the current fiscal year, with EPS estimates ranging from $1.60 to $1.10. For next year, analysts expect the company to report earnings of $0.05 per share, with EPS estimates ranging from ($0.30) to $0.40. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts who cover Heritage Insurance.

Heritage Insurance (NYSE:HRTG – Get Rating) last released its results on Thursday, May 5. The insurance provider reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 per ($1.28). Heritage Insurance had a negative return on equity of 10.95% and a negative net margin of 15.61%. In the same quarter of the previous year, the company achieved EPS of ($0.19).

Several research analysts have weighed in on the stock. TheStreet downgraded shares of Heritage Insurance from a “c-” rating to a “d+” rating in a Tuesday, May 3 report. StockNews.com downgraded Heritage Insurance shares from a “buy” rating to a “hold” rating in a Thursday, May 19 report. Finally, Zacks Investment Research downgraded shares of Heritage Insurance from a “buy” rating to a “hold” rating in a Wednesday, May 4, report. Two investment analysts gave the stock a hold rating and two gave the stock a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $9.50.

NYSE HRTG traded down $0.09 on Monday, hitting $3.57. 2,337 shares of the company were traded, against an average volume of 222,466. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt ratio of 0.44. The stock has a fifty-day moving average of $5.22 and a 200-day moving average of $5.84. Heritage Insurance has a 12 month minimum of $2.85 and a 12 month maximum of $9.20. The company has a market capitalization of $94.50 million, a PE ratio of -0.97 and a beta of 0.80.

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. The ex-dividend date is Monday, June 13. This represents an annualized dividend of $0.24 and a dividend yield of 6.72%. Heritage Insurance’s dividend payout rate is currently -6.54%.

Several hedge funds have recently changed their positions in HRTG. Goldman Sachs Group Inc. increased its stake in Heritage Insurance by 24.3% during the first quarter. Goldman Sachs Group Inc. now owns 127,254 shares of the insurance provider worth $909,000 after buying an additional 24,869 shares in the last quarter. Engineers Gate Manager LP increased its position in Heritage Insurance by 119.2% in the first quarter. Engineers Gate Manager LP now owns 68,075 shares of the insurance provider worth $486,000 after purchasing an additional 37,016 shares during the period. Invesco Ltd. increased its position in Heritage Insurance by 50.6% during the first quarter. Invesco Ltd. now owns 88,098 shares of the insurance provider worth $629,000 after purchasing an additional 29,612 shares during the period. Renaissance Technologies LLC increased its position in Heritage Insurance by 7.0% during the first quarter. Renaissance Technologies LLC now owns 490,447 shares of the insurance provider worth $3,502,000 after purchasing an additional 32,248 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Heritage Insurance by 14.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 74,430 shares of the insurance provider worth $532,000 after purchasing an additional 9,541 shares during the period. Institutional investors hold 59.33% 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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Earnings history and estimates for Heritage Insurance (NYSE:HRTG)



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