Universal Insurance Holdings Inc reports results for the quarter ended in June - Earnings Summary

Universal Insurance Holdings

25/07/2024 23:24

* Universal Insurance Holdings Inc  UVE.N  reported
quarterly
adjusted earnings of $1.21​​ per share for the quarter ended in
June, higher than the same quarter last year, when the company
reported EPS of 87 cents.  The mean expectation of two analysts
for the quarter was for earnings of $1.03 per share. Wall Street
expected results to range from 90 cents to $1.15 per share.
    * Revenue rose 13.7% to $344.96 million from a year ago;
analysts
expected $340.09 million. 
    * Universal Insurance Holdings Inc's reported EPS for the
quarter
was $1.21​.
    * The company reported quarterly net income of $35.42
million.
    * Universal Insurance Holdings Inc shares had risen by 3.5%
this
quarter and gained 21.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 10.9%
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 "buy"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 1
"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 Universal
Insurance Holdings Inc is $25.00 
This summary was machine generated from LSEG data July 25 at
10:24 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
 Jun. 30 2024      1.03           1.21           Beat
 Mar. 31 2024      1.05           1.07           Beat
 Dec. 31 2023      0.25           0.43           Beat
 Sep. 30 2023      -0.29          -0.16          Beat