Stock analysts expect Heritage Insurance Holdings, Inc. (NYSE: HRTG – Get Rating) to post sales of $154.69 million for the current quarter, reports Zacks Investment Research. Two analysts have made earnings estimates for Heritage Insurance, with the highest estimate of sales at $161.89 million and the lowest estimate at $147.48 million. Heritage Insurance recorded sales of $150.20 million in the same quarter last year, indicating a positive growth rate of 3% year-over-year. The company is expected to release its next results on Monday, January 1.
According to Zacks, analysts expect Heritage Insurance to report annual revenue of $625.82 million for the current year, with estimates ranging from $606.81 million to $644.83 million. of dollars. For the next fiscal year, analysts expect the company to post sales of $657.52 million, with estimates ranging from $638.37 million to $676.66 million. Zacks’ sales calculations are an average based on a survey of sell-side research companies that track Heritage Insurance.
Heritage Insurance (NYSE:HRTG – Get Rating) last released its results on Thursday, May 5. The insurance provider reported ($1.15) EPS for the quarter, missing analyst consensus estimates of $0.13 per ($1.28). Heritage Insurance had a negative net margin of 15.61% and a negative return on equity of 10.95%. In the same period a year earlier, the company posted ($0.19) earnings per share.
Several equity research analysts have recently released reports on HRTG shares. TheStreet downgraded Heritage Insurance from a “c-” rating to a “d+” rating in a Tuesday, May 3 report. StockNews.com downgraded Heritage Insurance from a “buy” rating to a “hold” rating in a Thursday, May 19 report. Finally, Zacks Investment Research downgraded Heritage Insurance from a “buy” rating to a “hold” rating in a Wednesday, May 4, report. Two research analysts gave the stock a hold rating and two gave the stock a buy rating. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $9.50.
HRTG stock opened Wednesday at $3.66. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt ratio of 0.44. The company has a market capitalization of $96.88 million, a PE ratio of -1.00 and a beta of 0.80. Heritage Insurance has a 12 month minimum of $2.85 and a 12 month maximum of $9.20. The company’s fifty-day moving average price is $5.08 and its 200-day moving average price is $5.80.
The company also recently declared 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. The ex-dividend date is Monday, June 13. This represents an annualized dividend of $0.24 and a yield of 6.56%. Heritage Insurance’s dividend payout ratio (DPR) is -6.54%.
Hedge funds and other institutional investors have recently changed their stakes in the company. BlackRock Inc. increased its position in Heritage Insurance shares by 0.3% during the third quarter. BlackRock Inc. now owns 2,566,357 shares of the insurance provider worth $17,478,000 after acquiring an additional 7,212 shares last quarter. Dimensional Fund Advisors LP increased its position in Heritage Insurance shares by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,326,983 shares of the insurance provider worth $9,474,000 after acquiring an additional 50,432 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its position in Heritage Insurance shares by 2.0% during the first quarter. Pacific Ridge Capital Partners LLC now owns 851,318 shares of the insurance provider worth $6,078,000 after acquiring an additional 16,362 shares last quarter. Acuitas Investments LLC increased its position in Heritage Insurance shares by 76.0% during the first quarter. Acuitas Investments LLC now owns 830,310 shares of the insurance provider worth $5,928,000 after acquiring an additional 358,603 shares in the last quarter. Finally, Renaissance Technologies LLC strengthened its position in Heritage Insurance shares by 7.0% during the 1st quarter. Renaissance Technologies LLC now owns 490,447 shares of the insurance provider worth $3,502,000 after acquiring 32,248 additional shares last quarter. Institutional investors hold 59.33% of the company’s shares.
About Legacy Insurance (Get an evaluation)
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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