Analysts Predict Strong Everest Re Q1 Earnings

April 22, 2013

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 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.”

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