Hannover Ruck (OTCMKTS:HVRRY) Shares Gap Up - Here's Why

Key Points

• Hannover Ruck's stock price gapped up from $51.80 to $54.66 at the market open, reflecting a significant market movement.
• Analysts have upgraded Hannover Ruck's shares from a "hold" to a "strong-buy" rating, with an average rating of "Buy" across several research firms.
• In its latest earnings report, Hannover Ruck reported $1.31 EPS, exceeding estimates and showing strong revenue of $7.96 billion for the quarter.

Hannover Ruck SE (OTCMKTS:HVRRY - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $51.80, but opened at $54.66. Hannover Ruck shares last traded at $52.22, with a volume of 1,323 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Zacks Research upgraded shares of Hannover Ruck from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. UBS Group upgraded shares of Hannover Ruck from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 12th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy".

Hannover Ruck Price Performance

The company has a market cap of $38.05 billion, a price-to-earnings ratio of 13.99 and a beta of 0.44. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.37. The company's 50 day moving average price is $49.54 and its 200 day moving average price is $51.12.

Hannover Ruck (OTCMKTS:HVRRY - Get Free Report) last released its earnings results on Tuesday, August 12th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.05 by $0.26. Hannover Ruck had a net margin of 9.33% and a return on equity of 19.77%. The company had revenue of $7.96 billion during the quarter, compared to analysts' expectations of $7.34 billion. Equities research analysts forecast that Hannover Ruck SE will post 3.42 earnings per share for the current year.

About Hannover Ruck

Hannover Rück SE, together with its subsidiaries, provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally. It operates through Property & Casualty Reinsurance; and Life & Health Reinsurance segments.

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