ProAssurance (NYSE:PRA) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

ProAssurance (NYSE:PRA - Get Free Report) announced its quarterly earnings data on Monday. The insurance provider reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.04, Briefing.com reports. The business had revenue of $284.97 million for the quarter, compared to analyst estimates of $233.62 million. ProAssurance had a negative net margin of 3.39% and a negative return on equity of 0.53%. The company's revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned ($0.15) EPS.

ProAssurance Stock Performance

NYSE PRA traded up $1.35 on Tuesday, reaching $15.17. The stock had a trading volume of 495,236 shares, compared to its average volume of 276,399. The stock has a market cap of $773.20 million, a P/E ratio of -20.50 and a beta of 0.21. ProAssurance has a 12-month low of $11.76 and a 12-month high of $19.38. The business's 50-day moving average price is $12.89 and its 200 day moving average price is $13.51. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.27 and a current ratio of 0.27.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PRA shares. JMP Securities reaffirmed a "market outperform" rating and set a $22.00 price objective on shares of ProAssurance in a research report on Monday, April 15th. Piper Sandler cut their price objective on shares of ProAssurance from $16.00 to $15.00 and set an "overweight" rating on the stock in a report on Monday, March 4th. Finally, Truist Financial lowered their target price on shares of ProAssurance from $15.00 to $14.00 and set a "hold" rating for the company in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, ProAssurance has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

ProAssurance Company Profile

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.