Analysts Predict Strong Everest Re Q1 Earnings
Bermuda’s Everest Re Group Ltd. will release its first quarter 2013 earnings after trading closes on the New York Stock Exchange on Tuesday [Ap. 23]. A conference call discussing the results will be held at 10:30 a.m. Eastern Time on Wednesday, April 24.
Wall Street anticipates that Everest Re Group will earn $4.30 for the quarter. Researchers at iStockAnalyst.com expect the insurance company to report earnings that will beat Wall Street’s consensus number. Their estimate is $5.92, an upside surprise of $1.62.
Everest Re Group, Ltd., through its subsidiaries, underwrites reinsurance and insurance products. It operates in four segments: U.S. Reinsurance, Insurance, International, and Bermuda.
The iStockAnalyst prediction of a 37 percent upside surprise “isn’t out of the range of previous bullish surprises” said a spokesman.
“Everest Re Group Ltd. surprised Wall Street with a bullish EPS surprise in nine of the last 16 quarterly checkups with an average beat of 41.89 percent,” said a sopokesman for the investment website. “So, there could be more upside to meet the average. The handful of misses has been just as spectacular with an average miss of 60.85% and, believe it or not, once Everest hit the bull’s eye.
“The re-insurers stock price has performed well for shareholders in the last four years. In fact, its price has increased in the day surrounding earnings for 11 quarters in a row, averaging a 2.97% in the three days before and after the announcement.”
