Brokers Set Expectations for Everest Group, Ltd.’s Q3 2024 Earnings (NYSE:EG)

Everest Group, Ltd. (NYSE:EG) – Investment analysts at Zacks Research lifted their Q3 2024 earnings per share estimates for Everest Group in a research note issued on Monday, May 20th. Zacks Research analyst T. De now expects that the company will earn $9.51 per share for the quarter, up from their prior estimate of $9.27. The consensus estimate for Everest Group’s current full-year earnings is $61.65 per share. Zacks Research also issued estimates for Everest Group’s Q4 2024 earnings at $18.14 EPS, FY2024 earnings at $61.10 EPS, Q1 2025 earnings at $18.08 EPS, Q3 2025 earnings at $11.12 EPS, Q4 2025 earnings at $18.43 EPS, Q1 2026 earnings at $20.58 EPS and FY2026 earnings at $79.84 EPS.

EG has been the subject of a number of other research reports. Morgan Stanley lowered their price objective on Everest Group from $466.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Wells Fargo & Company lowered their price target on Everest Group from $402.00 to $397.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. Keefe, Bruyette & Woods increased their price objective on shares of Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, Citigroup downgraded shares of Everest Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $452.00 to $375.00 in a research note on Monday, February 12th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $432.11.

Everest Group Price Performance

EG stock opened at $399.44 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a 50 day moving average price of $379.39 and a 200-day moving average price of $377.66. Everest Group has a 52-week low of $331.08 and a 52-week high of $417.92. The firm has a market capitalization of $17.36 billion, a price-to-earnings ratio of 5.94, a PEG ratio of 3.42 and a beta of 0.57.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.98 by $0.34. Everest Group had a net margin of 18.69% and a return on equity of 24.86%. The company had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the company posted $11.31 EPS. Everest Group’s revenue was up 25.8% on a year-over-year basis.

Everest Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 29th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Wednesday, May 29th. This is a boost from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s dividend payout ratio is 10.40%.

Hedge Funds Weigh In On Everest Group

Several institutional investors have recently made changes to their positions in the business. New York State Common Retirement Fund bought a new stake in Everest Group during the fourth quarter valued at approximately $13,273,000. Victory Capital Management Inc. purchased a new position in shares of Everest Group during the 4th quarter worth $40,865,000. Avidian Wealth Solutions LLC bought a new stake in shares of Everest Group during the 4th quarter valued at $836,000. Everence Capital Management Inc. purchased a new stake in shares of Everest Group in the 4th quarter worth $1,004,000. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Everest Group in the 4th quarter worth $904,000. Institutional investors own 92.64% of the company’s stock.

Everest Group Company Profile

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.