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| Company Name | Symbol | %Change |
|---|---|---|
| VIASAT INC | VSAT | 19.35% |
| OLD SECOND B | OSBC | 5.76% |
| GAMCO INVEST | GBL | 4.61% |
| CORNING INC | GLW | 4.47% |
| SYNCHRONOSS | SNCR | 4.23% |
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Meadowbrook Insurance Group ( MIG - Snapshot Report ) recently posted its third consecutive positive EPS surprise (and 8th in the last 9 quarters).
Company Description
Meadowbrook is a specialty insurance underwriter and insurance administration services company. It is engaged primarily in developing and managing Alternative Market risk management programs for defined client groups and their members.
Meadowbrook is headquartered in Michigan and has a market cap of $456 million.
Solid Top Line Growth
On August 2, Meadowbrook reported a revenue increase of 25% for the second quarter compared with the same period in 2009, driven by a 28% rise in net earned premiums.
Meadowbrook has been successfully growing its transportation business in the Southeast while also implementing rate increases on its existing lines of business.
Share Repurchase
Meadowbrook has been buying back shares recently as part of the share repurchase plan announced in February.
The agreement allows management to repurchase up to 5.0 million shares within two years. The company has repurchased approximately 2.2 million shares thus far.
Earnings Guidance
The Zacks Consensus Estimate is expected to be $1.00 per share in 2010 (a 7.3% gain year-over-year), and $1.05 in 2011. Analysts have held these estimates steady for the last few months. Meadowbrook has had a history of beating the Zacks Consensus however, with an average surprise of 18.3%.
Five-Year EPS Surprise History
Fundamentals
Meadowbrook is cheap, trading at just 8.1x 2011 estimates and 0.9x book value. It currently has a dividend yield of 1.37%, corresponding to a payout ratio of only 12.4%.
Meadowbrook Insurance Group reports third quarter earnings November 8, 2010.
It is a Zacks #2 Rank (Buy).
Read the full reports :
Snapshot Report on MIG