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

Root

01/05/2024 10:46

* Root Inc  ROOT.OQ  reported a quarterly adjusted loss
of 42
cents​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of
$-2.88.  The mean expectation of seven analysts for the quarter
was for a loss of $2.48 per share. Wall Street expected
results to range from $-3.02 to $-1.85 per share.
    * Revenue rose 263.6% to $254.90 million from a year ago;
analysts
expected $204.28 million. 
    * Root Inc's reported EPS for the quarter was a loss of 42
cents​.
    * The company reported a quarterly loss of $6.2 million.
    * Root Inc shares had risen by 14.0% this quarter and
gained 564.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 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 property &
casualty
insurance peer group is  "hold."

Wall Street's median 12-month price target for Root Inc is
$70.50 
This summary was machine generated from LSEG data May 1 at 09:46
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
 Mar. 31 2024      -2.48          -0.42          Beat
 Dec. 31 2023      -2.79          -1.64          Beat
 Sep. 30 2023      -2.79          -3.16          Missed
 Jun. 30 2023      -3.03          -2.55          Beat