Equities analysts expect that Brown & Brown, Inc. (NYSE:BRO) will report $556.65 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Brown & Brown’s earnings. The highest sales estimate is $563.98 million and the lowest is $548.10 million. Brown & Brown reported sales of $473.10 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 17.7%. The company is scheduled to announce its next earnings report after the market closes on Monday, July 22nd.
On average, analysts expect that Brown & Brown will report full-year sales of $2.36 billion for the current financial year, with estimates ranging from $2.35 billion to $2.39 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.50 billion, with estimates ranging from $2.44 billion to $2.57 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Brown & Brown.
Brown & Brown (NYSE:BRO) last released its earnings results on Monday, April 22nd. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. Brown & Brown had a return on equity of 12.47% and a net margin of 17.23%. The business had revenue of $617.50 million for the quarter, compared to the consensus estimate of $600.51 million. During the same period last year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year.
BRO has been the topic of a number of recent research reports. Wells Fargo & Co reissued a “hold” rating and set a $28.00 target price on shares of Brown & Brown in a research report on Sunday, April 21st. Zacks Investment Research downgraded Hudson Technologies from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Finally, SunTrust Banks lifted their target price on Brown & Brown to $40.00 and gave the stock a “buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Brown & Brown currently has an average rating of “Hold” and a consensus price target of $29.88.
Institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Inc. raised its stake in Brown & Brown by 3.4% in the 4th quarter. Advisor Group Inc. now owns 28,184 shares of the financial services provider’s stock valued at $777,000 after purchasing an additional 938 shares during the last quarter. Northern Trust Corp raised its stake in Brown & Brown by 1.6% in the 4th quarter. Northern Trust Corp now owns 1,808,677 shares of the financial services provider’s stock valued at $49,848,000 after purchasing an additional 29,134 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Brown & Brown by 5.5% in the 4th quarter. Great West Life Assurance Co. Can now owns 188,185 shares of the financial services provider’s stock valued at $4,857,000 after purchasing an additional 9,746 shares during the last quarter. Nomura Asset Management Co. Ltd. acquired a new position in Brown & Brown in the 4th quarter valued at $1,434,000. Finally, Dimensional Fund Advisors LP raised its stake in Brown & Brown by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,093,296 shares of the financial services provider’s stock valued at $57,689,000 after purchasing an additional 26,343 shares during the last quarter. Hedge funds and other institutional investors own 70.99% of the company’s stock.
BRO stock traded down $0.43 during trading on Monday, reaching $34.70. 943,045 shares of the stock were exchanged, compared to its average volume of 812,242. Brown & Brown has a twelve month low of $25.72 and a twelve month high of $35.27. The firm has a market capitalization of $9.91 billion, a P/E ratio of 28.21, a P/E/G ratio of 2.60 and a beta of 0.71. The business’s 50 day simple moving average is $33.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.93 and a quick ratio of 0.93.
Brown & Brown Company Profile
Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.
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