Root Inc reports results for the quarter ended in June - Earnings Summary

Root

08/08/2024 05:44

* Root Inc  ROOT.OQ  reported a quarterly adjusted loss
of 52
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of
$-2.55.  The mean expectation of seven analysts for the quarter
was for a loss of $1.36 per share. Wall Street expected
results to range from $-2.15 to -48 cents per share.
    * Revenue rose 285.3% to $288.20 million from a year ago;
analysts
expected $264.77 million. 
    * Root Inc's reported EPS for the quarter was a loss of 52
cents​.
    * The company reported a quarterly loss of $7.8 million.
    * Root Inc shares had risen by 7.1% this quarter and
gained 427.3%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 20.8%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the multiline
insurance
& brokers peer group is  "hold."

Wall Street's median 12-month price target for Root Inc is
$71.00 
This summary was machine generated from LSEG data August 8 at
04:44 a.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
 Jun. 30 2024      -1.36          -0.52          Beat
 Mar. 31 2024      -2.48          -0.42          Beat
 Dec. 31 2023      -2.79          -1.64          Beat
 Sep. 30 2023      -2.79          -3.16          Missed