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

American Coastal Insurance

07/08/2024 23:43

* American Coastal Insurance Corp  ACIC.OQ  reported
quarterly
adjusted earnings of 40 cents​​ per share for the quarter ended
in June.  The lone analyst forecast for the quarter was
for earnings of 30 cents per share. 
    * Revenue was $63.38 million​; analysts expected $68.79
million. 
    * American Coastal Insurance Corp's reported EPS for the
quarter
was 39 cents​.
    * The company reported quarterly net income of $19.05
million.
    * American Coastal Insurance Corp shares had risen by 10.4%
this
quarter and gained 23.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 20% in
the last three months.​ 
    * 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 August 7 at
10:42 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
 Jan. 1 0001       0.30           0.40           Beat
 Jan. 1 0001       0.25           0.50           Beat
 Dec. 31 2023      0.21           0.39           Beat