SelectQuote (NYSE:SLQT) Announces Earnings Results

Key Points

• SelectQuote missed earnings expectations, reporting a quarterly loss of $0.19 per share versus the consensus estimate of a $0.16 loss. The company posted a 20.49% return on equity and a 5.60% net margin.
• Shares fell 4.6% to open at $0.79, near the stock’s 50-day moving average of $0.78. SelectQuote’s market capitalization was approximately $139.3 million, with shares ranging from $0.56 to $2.75 over the past year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $3.00. Institutional investors own 34.59% of the company, while recent ratings ranged from Strong Buy to Sell.

SelectQuote (NYSE:SLQT - Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.03), Zacks reports. SelectQuote had a return on equity of 20.49% and a net margin of 5.60%.

SelectQuote Trading Down 4.6%

Shares of SelectQuote stock opened at $0.79 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 5.63 and a quick ratio of 5.63. The stock has a fifty day moving average price of $0.78 and a 200-day moving average price of $0.83. SelectQuote has a 1 year low of $0.56 and a 1 year high of $2.75. The firm has a market cap of $139.32 million, a PE ratio of 8.78 and a beta of 1.66.

Hedge Funds Weigh In On SelectQuote

A number of large investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd bought a new position in SelectQuote in the third quarter worth $27,000. CIBC Bancorp USA Inc. bought a new stake in SelectQuote during the third quarter valued at about $29,000. Aquatic Capital Management LLC bought a new position in shares of SelectQuote during the 3rd quarter valued at about $29,000. Russell Investments Group Ltd. raised its position in shares of SelectQuote by 90.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 16,133 shares of the company's stock valued at $38,000 after buying an additional 7,675 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of SelectQuote in the 3rd quarter worth about $43,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SLQT has been the topic of a number of recent research reports. Noble Financial upgraded SelectQuote to a "strong-buy" rating in a report on Wednesday, May 6th. Zacks Research cut SelectQuote from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings downgraded shares of SelectQuote from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $3.00.

SelectQuote Company Profile

SelectQuote, Inc NYSE: SLQT is a U.S.-based insurance brokerage and lead generation company that connects consumers with a range of insurance products through proprietary technology and licensed agents. The company specializes in life insurance, supplemental health coverage and Medicare plans, leveraging its digital platform and call center operations to help individuals compare policies and find cost-effective solutions tailored to their needs.

Through a single point of contact, policy seekers can evaluate offerings from multiple carriers, including term life, whole life, accidental death, critical illness and long-term care products.

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