Wall Street analysts expect Brown & Brown, Inc. (NYSE:BRO) to announce sales of $507.48 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Brown & Brown’s earnings, with the lowest sales estimate coming in at $488.40 million and the highest estimate coming in at $516.70 million. Brown & Brown reported sales of $475.60 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.7%. The company is expected to report its next quarterly earnings results on Monday, October 15th.
On average, analysts expect that Brown & Brown will report full-year sales of $1.97 billion for the current financial year, with estimates ranging from $1.92 billion to $2.00 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.11 billion, with estimates ranging from $2.00 billion to $2.16 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Brown & Brown.
Brown & Brown (NYSE:BRO) last released its quarterly earnings results on Monday, July 23rd. The financial services provider reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.02). Brown & Brown had a net margin of 22.25% and a return on equity of 11.75%. The company had revenue of $473.10 million during the quarter, compared to analyst estimates of $472.74 million. During the same quarter last year, the business earned $0.25 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year.
A number of equities analysts recently weighed in on BRO shares. Zacks Investment Research upgraded Brown & Brown from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Tuesday. Royal Bank of Canada reiterated a “hold” rating and issued a $30.00 price target on shares of Brown & Brown in a research report on Wednesday, July 25th. Citigroup set a $27.00 price target on Brown & Brown and gave the company a “sell” rating in a research report on Wednesday, September 19th. SunTrust Banks reiterated a “buy” rating and issued a $33.00 price target on shares of Brown & Brown in a research report on Tuesday, July 24th. Finally, Morgan Stanley increased their price target on Brown & Brown from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Tuesday, August 14th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $28.46.
Shares of NYSE:BRO traded up $0.05 during midday trading on Monday, reaching $29.58. The company had a trading volume of 1,068,500 shares, compared to its average volume of 1,106,896. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.30. Brown & Brown has a 1-year low of $24.03 and a 1-year high of $31.55. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 30.82, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bruderman Asset Management LLC acquired a new stake in Brown & Brown during the 2nd quarter worth about $117,000. Itau Unibanco Holding S.A. acquired a new stake in Brown & Brown during the 2nd quarter worth about $144,000. Rowland & Co. Investment Counsel ADV acquired a new stake in Brown & Brown during the 2nd quarter worth about $183,000. SevenBridge Financial Group LLC lifted its holdings in shares of Brown & Brown by 100.0% during the 1st quarter. SevenBridge Financial Group LLC now owns 6,654 shares of the financial services provider’s stock valued at $169,000 after buying an additional 3,327 shares during the last quarter. Finally, Palladium Partners LLC acquired a new stake in shares of Brown & Brown during the 2nd quarter valued at about $211,000. Hedge funds and other institutional investors own 71.94% of the company’s stock.
Brown & Brown Company Profile
Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.
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