We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Palomar (PLMR) Reports Q1 Earnings: What Key Metrics Have to Say
Read MoreHide Full Article
Palomar (PLMR - Free Report) reported $115.53 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 29.7%. EPS of $1.09 for the same period compares to $0.80 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $108.56 million, representing a surprise of +6.42%. The company delivered an EPS surprise of +18.48%, with the consensus EPS estimate being $0.92.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Palomar performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Loss Ratio: 24.9% versus the six-analyst average estimate of 23.8%.
Combined Ratio: 76.9% versus the five-analyst average estimate of 81.9%.
Expense Ratio: 52% compared to the 57.8% average estimate based on five analysts.
Adjusted combined ratio: 73% versus 77.1% estimated by three analysts on average.
Revenues- Net investment income: $7.14 million versus $7.54 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +39.4% change.
Revenues- Commission and other income: $0.53 million compared to the $0.92 million average estimate based on six analysts. The reported number represents a change of -24% year over year.
Revenues- Net earned premiums: $107.87 million compared to the $100.17 million average estimate based on six analysts. The reported number represents a change of +29.6% year over year.
Shares of Palomar have returned -4.4% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Palomar (PLMR) Reports Q1 Earnings: What Key Metrics Have to Say
Palomar (PLMR - Free Report) reported $115.53 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 29.7%. EPS of $1.09 for the same period compares to $0.80 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $108.56 million, representing a surprise of +6.42%. The company delivered an EPS surprise of +18.48%, with the consensus EPS estimate being $0.92.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Palomar performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Loss Ratio: 24.9% versus the six-analyst average estimate of 23.8%.
- Combined Ratio: 76.9% versus the five-analyst average estimate of 81.9%.
- Expense Ratio: 52% compared to the 57.8% average estimate based on five analysts.
- Adjusted combined ratio: 73% versus 77.1% estimated by three analysts on average.
- Revenues- Net investment income: $7.14 million versus $7.54 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +39.4% change.
- Revenues- Commission and other income: $0.53 million compared to the $0.92 million average estimate based on six analysts. The reported number represents a change of -24% year over year.
- Revenues- Net earned premiums: $107.87 million compared to the $100.17 million average estimate based on six analysts. The reported number represents a change of +29.6% year over year.
View all Key Company Metrics for Palomar here>>>Shares of Palomar have returned -4.4% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.