Here's Why You Should Hold On To Everest Re (RE) Stock Now
Zacks Investment Research | Dec 11, 2017 10:02PM ET
Everest Re Group Ltd (NYSE:RE) remains well-poised for growth, banking on traditional risk management capabilities, capital adequacy and financial flexibility. The Zacks Rank #3 (Hold) property and casualty insurer bears immense potential owing to a few good growth drivers.
Growth Projections: The Zacks Consensus Estimate for earnings per share is pegged at $1.71 for 2017 and at $19.80 for 2018. Though the consensus mark for 2017 reflects a year-over-year decrease of 93%, the same for 2018 improved a massive 1056%.
The top line marks a 9.4% and 8% year-over-year increase for 2017 and 2018, respectively.
The expected long-term earnings growth rate is pegged at 10%.
Northbound Estimates: Recent positive revisions have raised the 2017 Zacks Consensus Estimate for Everest Re to earnings per share of $1.71 from a loss of 1.66 over the last 60 days. The consensus mark for 2018 earnings moved north 0.5% over the same time frame.
Positive Earnings Surprise History: Everest Re has surpassed the Zacks Consensus Estimate in three of the last four quarters with an average beat of 34.90%.
Price Performance: Shares of Everest Re have gained 0.5% year to date, underperforming the Zacks Investment Research
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