- Marzo 28, 2022
- Posted by: Oliver
- Categoria: Economics, Finance & accounting
New York-based risk management products and services provider Assurant helps in consumer purchases by providing specialty insurance products via its Global Housing and Global Lifestyle segments.
In its recent quarterly results, the company reported muted results as both earnings and revenue missed estimates. Revenues for the quarter came in at $2.57 billion, up 6.5% from the prior year, with net earned premiums growing 3.5% to $2.18 billion. Yet, the figure failed to surpass the consensus estimate of $2.59 billion. Similarly, its EPS witnessed a year-over-year rise of 15% to $2.20 but failed to top the consensus estimate of $2.30 per share.
Recently, Truist Financial analyst Mark Hughes reiterated a Buy rating on the stock. The analyst raised the price target from $210 to $220, which implies upside potential of 19.3% from current levels.
According to the analyst, the stock remains undervalued compared to its peers in the same space.
Overall, Consensus among analysts is a Strong Buy based on five unanimous Buys. Assurant’s average price target of $197.20 implies upside potential of 6.9% from current levels. Shares of the company have grown 18.1% year-to-date and 28.3% over the past year.
