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Heritage Insurance (HRTG) Reports Q1 Earnings: What Key Metrics Have to Say
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Heritage Insurance (HRTG - Free Report) reported $191.3 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 8.1%. EPS of $0.47 for the same period compares to $0.55 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $189.05 million, representing a surprise of +1.19%. The company delivered an EPS surprise of -22.95%, with the consensus EPS estimate being $0.61.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Heritage Insurance performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Ceded Premium Ratio: 47.4% versus 47.3% estimated by two analysts on average.
Combined Ratio: 94% versus the two-analyst average estimate of 92.5%.
Expense Ratio: 37.1% versus the two-analyst average estimate of 35.8%.
Loss Ratio: 56.9% versus the two-analyst average estimate of 56.7%.
Revenues- Net investment income: $8.55 million compared to the $7.55 million average estimate based on two analysts. The reported number represents a change of +53.2% year over year.
Revenues- Net premiums earned: $179.43 million versus $177.98 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.1% change.
Revenues- Other revenue: $3.33 million versus the two-analyst average estimate of $3.53 million. The reported number represents a year-over-year change of -2.5%.
Shares of Heritage Insurance have returned -6.6% over the past month versus the Zacks S&P 500 composite's -4.1% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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Heritage Insurance (HRTG) Reports Q1 Earnings: What Key Metrics Have to Say
Heritage Insurance (HRTG - Free Report) reported $191.3 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 8.1%. EPS of $0.47 for the same period compares to $0.55 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $189.05 million, representing a surprise of +1.19%. The company delivered an EPS surprise of -22.95%, with the consensus EPS estimate being $0.61.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Heritage Insurance performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Ceded Premium Ratio: 47.4% versus 47.3% estimated by two analysts on average.
- Combined Ratio: 94% versus the two-analyst average estimate of 92.5%.
- Expense Ratio: 37.1% versus the two-analyst average estimate of 35.8%.
- Loss Ratio: 56.9% versus the two-analyst average estimate of 56.7%.
- Revenues- Net investment income: $8.55 million compared to the $7.55 million average estimate based on two analysts. The reported number represents a change of +53.2% year over year.
- Revenues- Net premiums earned: $179.43 million versus $177.98 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.1% change.
- Revenues- Other revenue: $3.33 million versus the two-analyst average estimate of $3.53 million. The reported number represents a year-over-year change of -2.5%.
View all Key Company Metrics for Heritage Insurance here>>>Shares of Heritage Insurance have returned -6.6% over the past month versus the Zacks S&P 500 composite's -4.1% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.