Neptune Insurance (NP) Projected to Release Quarterly Earnings on Tuesday

Key Points

• Neptune Insurance is expected to report quarterly earnings after the market closes Tuesday, October 20. Analysts forecast earnings of $0.1587 per share on revenue of $56.59 million.
• The company exceeded consensus estimates in its previous quarter, reporting $0.15 EPS and $55.87 million in revenue. Analysts project full-year EPS of $0.40 and next-year EPS of $0.47.
• Shares opened at $29.07, with a market capitalization of approximately $3.99 billion; analysts maintain a consensus “Moderate Buy” rating and a $31.54 price target, while insiders have sold more than 3.8 million shares worth about $125.6 million over the past 90 days.

Neptune Insurance (NYSE:NP - Get Free Report) is anticipated to post its results after the market closes on Tuesday, October 20th. Analysts expect Neptune Insurance to post earnings of $0.1587 per share and revenue of $56.59 million for the quarter.

Neptune Insurance (NYSE:NP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.01. Neptune Insurance had a net margin of 21.45% and a negative return on equity of 18.77%. The firm had revenue of $55.87 million for the quarter, compared to the consensus estimate of $52.38 million. On average, analysts expect Neptune Insurance to post $0.40 EPS for the current fiscal year and $0.47 EPS for the next fiscal year.

Neptune Insurance Price Performance

Shares of Neptune Insurance stock opened at $29.07 on Tuesday. The firm has a market cap of $3.99 billion and a price-to-earnings ratio of 116.27. Neptune Insurance has a one year low of $14.78 and a one year high of $35.15. The stock's 50-day moving average is $30.82 and its 200 day moving average is $29.13.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Weiss Ratings lowered Neptune Insurance from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday. Mizuho lowered their price objective on shares of Neptune Insurance from $32.00 to $31.00 and set a "neutral" rating on the stock in a report on Wednesday, October 7th. BMO Capital Markets downgraded shares of Neptune Insurance from an "outperform" rating to a "market perform" rating and set a $32.00 target price for the company. in a research report on Thursday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Neptune Insurance from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Finally, Morgan Stanley raised Neptune Insurance from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $31.00 to $36.00 in a research note on Wednesday, August 19th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, Neptune Insurance currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.54.

Insider Transactions at Neptune Insurance

In other news, Director Jonathan Carlon sold 50,000 shares of the company's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $31.15, for a total value of $1,557,500.00. Following the completion of the transaction, the director directly owned 603,500 shares of the company's stock, valued at $18,799,025. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Hold 101 Lp Bsiv sold 1,632,160 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $33.22, for a total value of $54,220,355.20. Following the sale, the insider directly owned 12,620,558 shares of the company's stock, valued at $419,254,936.76. The trade was a 11.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 3,815,570 shares of company stock worth $125,567,525. Company insiders own 74.26% of the company's stock.

About Neptune Insurance

Neptune Insurance is a technology-enabled insurance company focused on providing flood insurance coverage for residential and commercial property owners. Its offerings are designed to complement or supplement coverage available through the National Flood Insurance Program and traditional homeowners' insurance policies, which generally provide limited protection against flood damage.

The company distributes its policies through insurance agents and brokers, using a digital platform intended to streamline quoting, underwriting, policy management and claims handling.

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