Root (ROOT) Set to Announce Earnings on Tuesday

Root (NASDAQ:ROOT) will be posting its quarterly earnings results after the market closes on Tuesday, April 30th. Analysts expect Root to post earnings of ($2.51) per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Root (NASDAQ:ROOT) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($1.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.49) by $0.85. The firm had revenue of $194.80 million for the quarter, compared to analysts’ expectations of $108.00 million. Root had a negative return on equity of 73.62% and a negative net margin of 32.40%. On average, analysts expect Root to post $-8 EPS for the current fiscal year and $-5 EPS for the next fiscal year.

Root Stock Performance

Shares of ROOT stock opened at $64.40 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.80. The stock’s 50-day moving average price is $50.06 and its 200 day moving average price is $23.79. Root has a 52-week low of $3.90 and a 52-week high of $85.99. The stock has a market capitalization of $940.24 million, a PE ratio of -6.30 and a beta of 2.86.

Analysts Set New Price Targets

Several equities analysts have issued reports on ROOT shares. TD Cowen started coverage on Root in a research report on Wednesday, January 10th. They set a “market perform” rating on the stock. Jefferies Financial Group upgraded Root from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $40.00 in a research report on Friday, March 1st. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $70.00 price target (up previously from $22.00) on shares of Root in a research note on Wednesday. Wells Fargo & Company boosted their price target on Root from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 22nd. Finally, Cantor Fitzgerald raised Root from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $9.00 to $13.00 in a research note on Thursday, February 22nd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Root currently has a consensus rating of “Hold” and an average target price of $21.88.

About Root

Root, Inc provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. It operates a direct-to-consumer model; and serves customers primarily through mobile applications, as well as through its website. The company's direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.