Equities research analysts predict that Heritage Insurance Holdings, Inc. (NYSE:HRTG – Get Rating) will announce earnings per share of ($0.09) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Heritage Insurance’s earnings. The highest EPS estimate is $0.02 and the lowest is ($0.19). Heritage Insurance reported earnings of ($0.14) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 35.7%. The company is expected to report its next earnings results on Monday, January 1st.
On average, analysts expect that Heritage Insurance will report full year earnings of ($1.35) per share for the current financial year, with EPS estimates ranging from ($1.60) to ($1.10). For the next year, analysts expect that the company will report earnings of $0.05 per share, with EPS estimates ranging from ($0.30) to $0.40. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Heritage Insurance.
Heritage Insurance (NYSE:HRTG – Get Rating) last issued its earnings results on Thursday, May 5th. The insurance provider reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($1.28). Heritage Insurance had a negative return on equity of 10.95% and a negative net margin of 15.61%. During the same quarter in the prior year, the business earned ($0.19) EPS.
Several research analysts have weighed in on the stock. TheStreet downgraded shares of Heritage Insurance from a “c-” rating to a “d+” rating in a report on Tuesday, May 3rd. StockNews.com downgraded shares of Heritage Insurance from a “buy” rating to a “hold” rating in a report on Thursday, May 19th. Finally, Zacks Investment Research downgraded shares of Heritage Insurance from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $9.50.
NYSE HRTG traded up $0.09 on Monday, hitting $3.57. 2,337 shares of the company were exchanged, compared to its average volume of 222,466. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average of $5.22 and a 200-day moving average of $5.84. Heritage Insurance has a 12 month low of $2.85 and a 12 month high of $9.20. The company has a market cap of $94.50 million, a PE ratio of -0.97 and a beta of 0.80.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Tuesday, June 14th will be issued a $0.06 dividend. The ex-dividend date is Monday, June 13th. This represents a $0.24 annualized dividend and a dividend yield of 6.72%. Heritage Insurance’s dividend payout ratio is currently -6.54%.
Several hedge funds have recently made changes to their positions in HRTG. Goldman Sachs Group Inc. increased its holdings in Heritage Insurance by 24.3% during the first quarter. Goldman Sachs Group Inc. now owns 127,254 shares of the insurance provider’s stock worth $909,000 after buying an additional 24,869 shares during the last quarter. Engineers Gate Manager LP boosted its position in Heritage Insurance by 119.2% during the first quarter. Engineers Gate Manager LP now owns 68,075 shares of the insurance provider’s stock worth $486,000 after purchasing an additional 37,016 shares during the period. Invesco Ltd. boosted its position in Heritage Insurance by 50.6% during the first quarter. Invesco Ltd. now owns 88,098 shares of the insurance provider’s stock worth $629,000 after purchasing an additional 29,612 shares during the period. Renaissance Technologies LLC boosted its position in Heritage Insurance by 7.0% during the first quarter. Renaissance Technologies LLC now owns 490,447 shares of the insurance provider’s stock worth $3,502,000 after purchasing an additional 32,248 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Heritage Insurance by 14.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 74,430 shares of the insurance provider’s stock worth $532,000 after purchasing an additional 9,541 shares during the period. Institutional investors own 59.33% of the company’s stock.
About Heritage Insurance (Get Rating)
Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential property insurance for single-family homeowners and condominium owners, and rental property insurance in the states of Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey, and New York; and licensed in the state of Pennsylvania, as well as personal residential and wind-only property insurance.
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