James River Group Holdings, Ltd. (NASDAQ:JRVR) Expected to Post Quarterly Sales of


Wall Street brokerages expect James River Group Holdings, Ltd. (NASDAQ:JRVR) to announce $190.30 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for James River Group’s earnings. The lowest sales estimate is $186.70 million and the highest is $193.90 million. James River Group posted sales of $186.75 million in the same quarter last year, which suggests a positive year over year growth rate of 1.9%. The company is scheduled to report its next quarterly earnings report on Wednesday, August 4th.

According to Zacks, analysts expect that James River Group will report full-year sales of $763.50 million for the current fiscal year, with estimates ranging from $753.00 million to $774.00 million. For the next year, analysts forecast that the firm will report sales of $835.35 million, with estimates ranging from $834.40 million to $836.30 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for James River Group.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings data on Wednesday, May 5th. The insurance provider reported ($3.54) earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($4.13). James River Group had a negative return on equity of 5.33% and a negative net margin of 8.34%. The firm had revenue of $182.98 million during the quarter, compared to analysts’ expectations of $183.25 million.

Several equities analysts have issued reports on the stock. Truist Securities upgraded shares of James River Group from a “hold” rating to a “buy” rating and lowered their target price for the company from $56.00 to $43.00 in a research note on Friday, May 7th. TheStreet downgraded shares of James River Group from a “b” rating to a “c+” rating in a research report on Thursday, February 25th. Truist raised shares of James River Group from a “hold” rating to a “buy” rating and cut their target price for the stock from $56.00 to $43.00 in a research report on Friday, May 7th. Finally, Zacks Investment Research cut James River Group from a “hold” rating to a “sell” rating in a report on Friday, May 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. James River Group has a consensus rating of “Buy” and a consensus target price of $54.50.

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Several hedge funds have recently modified their holdings of JRVR. The PNC Financial Services Group Inc. raised its holdings in James River Group by 20.1% in the 1st quarter. The PNC Financial Services Group Inc. now owns 1,706 shares of the insurance provider’s stock worth $77,000 after purchasing an additional 285 shares during the period. Mutual of America Capital Management LLC increased its position in James River Group by 8.1% in the first quarter. Mutual of America Capital Management LLC now owns 4,109 shares of the insurance provider’s stock worth $187,000 after buying an additional 309 shares in the last quarter. First Mercantile Trust Co. raised its stake in shares of James River Group by 5.6% in the first quarter. First Mercantile Trust Co. now owns 6,190 shares of the insurance provider’s stock worth $283,000 after buying an additional 329 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of James River Group by 3.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,523 shares of the insurance provider’s stock valued at $571,000 after acquiring an additional 414 shares during the period. Finally, Pembroke Management LTD increased its holdings in James River Group by 0.9% in the 1st quarter. Pembroke Management LTD now owns 51,069 shares of the insurance provider’s stock worth $2,330,000 after acquiring an additional 438 shares in the last quarter. 94.58% of the stock is owned by hedge funds and other institutional investors.

James River Group stock opened at $36.29 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.57 and a quick ratio of 0.57. James River Group has a one year low of $30.75 and a one year high of $57.41. The stock has a market capitalization of $1.12 billion, a PE ratio of -17.97 and a beta of 0.46. The firm’s fifty day simple moving average is $39.18.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Monday, June 14th will be given a $0.30 dividend. The ex-dividend date is Friday, June 11th. This represents a $1.20 annualized dividend and a yield of 3.31%. James River Group’s payout ratio is presently 44.28%.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. It operates through Excess and Surplus Lines, Specialty Admitted Insurance, and Casualty Reinsurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.

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Earnings History and Estimates for James River Group (NASDAQ:JRVR)

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