KBW analyst Meyer Shields maintained a Buy rating on Everest Re (RE – Research Report) today and set a price target of $429.00. The company’s shares opened today at $384.95.
Shields covers the Financial sector, focusing on stocks such as Progressive, Arch Capital Group, and Arthur J Gallagher & Co. According to TipRanks, Shields has an average return of 11.4% and a 70.09% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Everest Re with a $439.00 average price target, implying a 14.04% upside from current levels. In a report released on May 4, Raymond James also maintained a Buy rating on the stock with a $420.00 price target.
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Based on Everest Re’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.29 billion and a net profit of $365 million. In comparison, last year the company earned a revenue of $2.89 billion and had a net profit of $297.75 million
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Everest Re Group Ltd is an insurance and reinsurance company with a distribution network. The company’s segments include: the U.S. Reinsurance segment that writes property and casualty reinsurance for large U.S. insurance companies and special lines of business comprising of Marine, Aviation, Surety, and Accident and Health business; the International segment, which focuses on several international reinsurance markets including Canada, Asia, Latin America, Brazil, Africa and the Middle East; the Bermuda segment that writes property and casualty reinsurance through Bermuda Re, the U.K. branch and Ireland Re; and the Insurance segment that writes insurance including property casualty insurance. The U.S. Reinsurance segment generates the majority of the revenue for the company.
Read More on RE:
- Everest Re price target raised to $445 from $435 at Wells Fargo
- Everest Re reports Q1 operating EPS $11.31 vs. $10.31 last year
- Everest Re Group (RE) Q1 Earnings Cheat Sheet
- Everest Re price target raised to $468 from $455 at Jefferies
- Everest Re general counsel Sanjoy Mukherjee to depart, Brent Hoffman to succeed
