American Coastal Insurance Corp reports results for the quarter ended in December - Earnings Summary

American Coastal Insurance

29/02/2024 23:24

* American Coastal Insurance Corp  ACIC.OQ  reported
quarterly
adjusted earnings of 39 cents​​ per share for the quarter ended
in December, higher than the same quarter last year, when the
company reported EPS of $-6.33.  The lone analyst forecast for
the quarter was for earnings of 21 cents per share. 
    * Revenue fell 58.6% to $55.58 million from a year ago;
analysts
expected $59.23 million. 
    * American Coastal Insurance Corp's reported EPS for the
quarter
was 31 cents​.
    * The company reported quarterly net income of $14.28
million.
    * American Coastal Insurance Corp shares had risen by 47.5%
this
quarter.

FORECAST CHANGES
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 1 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the property &
casualty
insurance peer group is also "buy"

Wall Street's median 12-month price target for American Coastal
Insurance Corp is $15.00 
This summary was machine generated from LSEG data February 29 at
11:23 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.21           0.39           Beat