Heritage Insurance (HRTG) Reports Third Quarter Loss, Exceeds Earnings Estimates

Heritage Insurance (HRTG) posted a quarterly loss of $1.83 per share, and Zacks Consensus estimated a loss of $1.24. That compares to his loss of $0.59 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report presents an earnings surprise of -47.58%. A quarter ago, the property and casualty insurance holding company expected him to post a loss of $0.14 per share, when in fact he was earning $0.11, a surprise 178.57%. rice field.

In the last four quarters, the company has beaten consensus EPS forecasts twice.

heritage insuranceZacks Insurance – part of the Property and Casualty industry, posted revenue of $165.49 million for the quarter ended September 2022, beating the Zacks Consensus estimate by 2.71%. This compares to last year’s revenue of $167.41 million. The company has beaten consensus earnings estimates four times in the last four quarters.

The sustainability of the immediate share price movement based on recent figures and future earnings projections depends primarily on management’s comments on the financial results.

Heritage Insurance shares are down about 70.2% year-to-date, compared to a -20.1% decline in the S&P 500.

What next for estate insurance?

While Heritage Insurance has underperformed the market so far this year, questions on the minds of investors are: What’s Next for Stocks?

There is no easy answer to this important question, but one reliable metric that can help investors address this is a company’s earnings outlook. This includes not only the current consensus earnings projections for the next quarter, but also how those projections have changed recently.

Empirical studies show a strong correlation between short-term stock price movements and earnings forecast revision trends. Investors can track such revisions themselves or rely on proven valuation tools like Zacks Rank, which has an impressive track record of harnessing the power of revenue forecast revisions.

ahead Financial results announcement, Heritage Insurance Quote Revision Trend: Mixed. The magnitude and direction of the revision to estimates could change according to the company’s just-released earnings report, but the current situation translates to a rank #3 (hold) of Zak’s stock. Therefore, the stock is expected to perform in line with the market in the near future.you can see Here is the complete list of today’s #1 (strong buy) Zachs stocks..

It will be interesting to see how estimates for the coming quarters and the current fiscal year change going forward. Current consensus EPS estimates are $0.11 on next quarter earnings of $167.76 million and -$2.17 on earnings of $640.96 million for the current fiscal year.

Investors should be mindful of the fact that industry outlook can also have a significant impact on stock price performance. In terms of Zacks industry ranks, Insurance – General Insurance is currently in the bottom 35% of his Zacks industry of over 250. Our research shows that the top 50% of industries ranked by Zacks do him more than twice as well as the bottom 50%.

Another stock in the same industry, Kingstone Companies, Inc (KINS), has yet to report results for the quarter ended September 2022. The results he will be announced on November 14th.

The company is expected to post a quarterly loss of $0.02 per share in its next report, representing a +98% year-over-year change. The quarterly consensus EPS estimate has not changed in the last 30 days.

Kingstone Companies, Inc revenue is expected to decline 25.7% from the prior year period to $28.94 million.

Sachs Names ‘Best Single-to-Double Pick’

Out of thousands of stocks, each of our five Zacks experts picked their favorites to surge +100% or more in the coming months. Out of these five, research director Heraz Mian chose her one with the most explosive advantages.

A little-known chemical company, up 65% from last year, but still cheap. With relentless demand, his skyrocketing earnings forecast for 2022, and a $1.5 billion stock buyback, retail investors are ready to jump in.

The company matches other recent Zacks stock doublings as Boston Beer Company surges +143.0% in just over nine months and NVIDIA surges +175.9% in a year. or may exceed it.

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Heritage Insurance Holdings, Inc. (HRTG): Free Stock Analysis Report

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The views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.

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