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

Root

02/11/2023 16:21

* Root Inc  ROOT.OQ  reported a quarterly adjusted loss of
$3.16​​
per share for the quarter ended in September, higher than the
same quarter last year, when the company reported EPS of
$-4.54.  The mean expectation of nine analysts for the quarter
was for a loss of $2.79 per share. Wall Street expected
results to range from $-3.29 to $-2.42 per share.
    * Revenue rose 56.4% to $115.30 million from a year ago;
analysts
expected $76.42 million. 
    * Root Inc's reported EPS for the quarter was a loss of
$3.16​.
    * The company reported a quarterly loss of $45.8 million.
    * Root Inc shares had fallen by 6.9% this quarter and
gained 97.1%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.5%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 7
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the property &
casualty
insurance peer group is also "hold"

Wall Street's median 12-month price target for Root Inc is
$10.00 
This summary was machine generated from LSEG data November 2 at
04:21 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      -2.79          -3.16          Missed
 Jun. 30 2023      -3.03          -2.55          Beat
 Mar. 31 2023      -3.59          -2.88          Beat
 Dec. 31 2022      -4.54          -4.13          Beat