Everest Re Group Downgraded To “Neutral”
ermuda’s Everest Re Group was downgraded by Macquarie to a “neutral” rating in a research note issued on Monday [Apr. 15], AnalystRatingsNetwork reports.
A number of other firms have also recently commented on RE. Analysts at Zacks upgraded shares of Everest Re Group from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, April 10. They now have a $153.00 price target on the stock. Finally, analysts at Barclays Capital raised their price target on shares of Everest Re Group from $116.00 to $122.00 in a research note to investors on Thursday, February 7. They now have an “equal weight” rating on the stock.
Everest Re Group last issued its quarterly earnings data on Wednesday, February 6th. The company reported $0.80 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.47 by $0.33.
The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company posted -$0.94 earnings per share. Everest Re Group’s revenue was up 11.3 percent compared to the same quarter last year. On average, analysts predict that Everest Re Group will post $14.56 earnings per share for the current fiscal year.
With offices in Wessex House on Reid Street, Everest Re Group is a Bermuda domiciled reinsurer licensed as a long term and Class 4 insurer under the Bermuda Insurance Act of 1978.
Everest Re Group, Ltd., through its subsidiaries, is principally engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international market.
