James River Group (NASDAQ:JRVR) Releases Earnings Results, Misses Estimates By $0.27 EPS

James River Group (NASDAQ:JRVR – Get Free Report) issued its quarterly earnings data on Monday. The insurance provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.27), FiscalAI reports. The firm had revenue of $147.71 million during the quarter, compared to analysts’ expectations of $134.80 million. James River Group had a positive return on equity of 5.20% and a negative net margin of 25.14%.

James River Group Stock Performance

JRVR opened at $3.12 on Wednesday. The company has a market cap of $144.53 million, a P/E ratio of -0.85 and a beta of -0.14. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $3.77 and its 200-day moving average price is $4.91. James River Group has a 52-week low of $3.02 and a 52-week high of $7.20.

James River Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, December 15th. This represents a $0.04 annualized dividend and a dividend yield of 1.3%. James River Group’s dividend payout ratio is -1.09%.

More James River Group News

Here are the key news stories impacting James River Group this week:

  • Positive Sentiment: Third-quarter revenue was $147.71 million, above the $134.80 million consensus estimate. Q3 earnings results
  • Positive Sentiment: The company declared a quarterly cash dividend of $0.01 per share, payable December 31, equivalent to $0.04 annually and a 1.2% yield. Dividend announcement
  • Neutral Sentiment: James River said three departments have adopted its AI underwriting tools, with three more in progress. The rollout may improve underwriting efficiency, while habitational-insurance non-renewals point to ongoing business pressure. AI underwriting rollout
  • Negative Sentiment: Q3 adjusted earnings were a loss of $0.10 per share, missing analysts’ expected $0.17 profit by $0.27. The company also reported a goodwill impairment for the quarter. Q3 results Goodwill impairment report
  • Negative Sentiment: JRVR crossed below its 50-day moving average after the weak earnings report, a technical signal that may reinforce cautious investor sentiment. Stock falls below 50-day average

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on JRVR shares. UBS Group lowered their target price on shares of James River Group from $4.75 to $4.00 and set a “neutral” rating for the company in a research note on Monday, August 17th. Truist Financial reduced their price target on James River Group from $6.00 to $5.00 and set a “hold” rating on the stock in a research report on Wednesday, August 12th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of James River Group in a research report on Wednesday, November 4th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $5.75.

View Our Latest Analysis on JRVR

James River Group Company Profile

(Get Free Report)

James River Group Holdings, Ltd. (NASDAQ: JRVR) is a specialty insurance holding company headquartered in Hamilton, Bermuda. Through its operating subsidiaries, the company provides commercial casualty insurance and reinsurance products to businesses and other insurance organizations. The company’s operations have included excess and surplus lines insurance, specialty admitted insurance and casualty reinsurance. Its products are designed for risks that may require customized underwriting or coverage that is not readily available through standard commercial insurance markets.

See Also

Earnings History for James River Group (NASDAQ:JRVR)

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