James River Group (NASDAQ:JRVR) Announces Earnings Results, Misses Estimates By $0.09 EPS

James River Group (NASDAQ:JRVR) issued its quarterly earnings results on Monday. The insurance provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.09), Briefing.com reports. The business had revenue of $188.30 million during the quarter, compared to the consensus estimate of $169.39 million. James River Group had a positive return on equity of 12.85% and a negative net margin of 10.56%. James River Group’s revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share.

James River Group Stock Performance

Shares of NASDAQ:JRVR traded up $0.22 on Wednesday, hitting $7.36. 381,694 shares of the company were exchanged, compared to its average volume of 854,362. The company’s 50 day moving average price is $7.77 and its two-hundred day moving average price is $8.54. The firm has a market capitalization of $278.40 million, a price-to-earnings ratio of -3.42 and a beta of 0.16. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.57 and a current ratio of 0.57. James River Group has a one year low of $6.35 and a one year high of $17.50.

James River Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Monday, September 16th. James River Group’s dividend payout ratio (DPR) is presently -9.57%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JRVR. Compass Point cut their price objective on James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a report on Wednesday. JMP Securities cut their price target on shares of James River Group from $14.00 to $11.00 and set a “market outperform” rating on the stock in a report on Tuesday. Finally, Truist Financial reduced their price target on shares of James River Group from $9.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, James River Group currently has an average rating of “Hold” and a consensus price target of $11.17.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance in the United States Puerto Rice, and the United States Virgin Islands.