James River Group (NASDAQ:JRVR) Announces Earnings Results, Misses Expectations By $0.89 EPS

James River Group (NASDAQ:JRVR) announced its quarterly earnings data on Monday. The insurance provider reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.89), Briefing.com reports. The firm had revenue of $191.50 million during the quarter, compared to the consensus estimate of $137.28 million. James River Group had a negative net margin of 20.84% and a positive return on equity of 4.18%. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 earnings per share.

James River Group Stock Down 7.3 %

Shares of NASDAQ:JRVR traded down $0.36 during midday trading on Wednesday, reaching $4.60. The company had a trading volume of 1,362,929 shares, compared to its average volume of 674,889. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average price is $6.42 and its 200 day moving average price is $7.30. The stock has a market cap of $174.02 million, a PE ratio of -1.14 and a beta of 0.17. James River Group has a 1-year low of $4.59 and a 1-year high of $11.49.

James River Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, December 16th. James River Group’s dividend payout ratio is currently -4.94%.

Analyst Upgrades and Downgrades

JRVR has been the topic of several recent research reports. Compass Point reduced their price target on James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JMP Securities dropped their price objective on James River Group from $14.00 to $11.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 6th. Finally, Truist Financial dropped their price objective on James River Group from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.00.

About James River Group

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance in the United States Puerto Rice, and the United States Virgin Islands.