Wall Street analysts expect Brown & Brown, Inc. (NYSE:BRO) to announce $617.84 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Brown & Brown’s earnings. The lowest sales estimate is $615.33 million and the highest is $620.18 million. Brown & Brown posted sales of $579.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.7%. The business is expected to report its next earnings report on Monday, January 25th.
According to Zacks, analysts expect that Brown & Brown will report full year sales of $2.59 billion for the current financial year, with estimates ranging from $2.58 billion to $2.60 billion. For the next financial year, analysts forecast that the firm will report sales of $2.78 billion, with estimates ranging from $2.76 billion to $2.80 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Brown & Brown.
Brown & Brown (NYSE:BRO) last issued its quarterly earnings results on Saturday, October 31st. The financial services provider reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.09. The firm had revenue of $674.00 million for the quarter, compared to analyst estimates of $645.46 million. Brown & Brown had a net margin of 18.02% and a return on equity of 13.26%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 EPS.
A number of brokerages have recently commented on BRO. Morgan Stanley increased their price target on shares of Brown & Brown from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 24th. ValuEngine cut shares of Brown & Brown from a “hold” rating to a “sell” rating in a research note on Tuesday, December 1st. BidaskClub raised shares of Brown & Brown from a “sell” rating to a “hold” rating in a research note on Wednesday, December 16th. Zacks Investment Research raised shares of Brown & Brown from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective for the company in a research note on Friday, October 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Brown & Brown from $47.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, December 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $46.88.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. CX Institutional boosted its position in Brown & Brown by 1.3% during the 3rd quarter. CX Institutional now owns 18,057 shares of the financial services provider’s stock valued at $817,000 after buying an additional 236 shares during the period. Nations Financial Group Inc. IA ADV boosted its position in Brown & Brown by 2.9% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 9,251 shares of the financial services provider’s stock valued at $419,000 after buying an additional 259 shares during the period. Prestige Wealth Management Group LLC boosted its position in Brown & Brown by 45.9% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,020 shares of the financial services provider’s stock valued at $46,000 after buying an additional 321 shares during the period. HWG Holdings LP boosted its position in Brown & Brown by 1.9% during the 3rd quarter. HWG Holdings LP now owns 17,199 shares of the financial services provider’s stock valued at $779,000 after buying an additional 325 shares during the period. Finally, US Bancorp DE lifted its position in shares of Brown & Brown by 1.2% in the 3rd quarter. US Bancorp DE now owns 29,741 shares of the financial services provider’s stock worth $1,347,000 after purchasing an additional 343 shares during the period. 67.82% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:BRO traded up $0.15 during trading on Tuesday, reaching $46.03. The company had a trading volume of 647,172 shares, compared to its average volume of 1,312,017. The company has a fifty day moving average of $46.03 and a two-hundred day moving average of $44.84. The stock has a market capitalization of $13.08 billion, a P/E ratio of 28.41 and a beta of 0.66. Brown & Brown has a 12 month low of $30.70 and a 12 month high of $48.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.55.
Brown & Brown Company Profile
Brown & Brown, Inc markets and sells insurance products and services in the United States, England, Canada, Bermuda, and the Cayman Islands. It operates through four segments: Retail, National Programs, Wholesale Brokerage, and Services. The Retail segment offers commercial packages, group medical, workers' compensation, property risk, and general liability insurance products; and group and individual life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control survey and analysis, consultancy, and claims processing services.
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