Bowhead Specialty (NYSE:BOW) Issues Q3 2024 Earnings Guidance

Bowhead Specialty (NYSE:BOW) updated its third quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 0.360-0.390 for the period, compared to the consensus estimate of 0.320. The company issued revenue guidance of $114.0 million-$119.0 million, compared to the consensus revenue estimate of $101.6 million.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BOW shares. Royal Bank of Canada reiterated an “outperform” rating and set a $32.00 price objective on shares of Bowhead Specialty in a research report on Wednesday, August 7th. JMP Securities increased their target price on shares of Bowhead Specialty from $31.00 to $32.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Bowhead Specialty presently has an average rating of “Hold” and a consensus price target of $29.40.

Bowhead Specialty Price Performance

Shares of BOW traded down $0.60 during trading hours on Monday, reaching $30.56. 44,351 shares of the stock traded hands, compared to its average volume of 154,571. The stock has a fifty day moving average price of $29.23. Bowhead Specialty has a 52 week low of $22.14 and a 52 week high of $32.55.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $98.90 million for the quarter, compared to analysts’ expectations of $94.28 million. The business’s revenue was up 51.0% compared to the same quarter last year. On average, equities research analysts expect that Bowhead Specialty will post 1.3 earnings per share for the current year.

Bowhead Specialty Company Profile

Bowhead Specialty Holdings Inc provides specialty property and casualty insurance products in the United States. It underwrites casualty insurance solutions for risks in the construction, distribution, heavy manufacturing, real estate, and hospitality segments; professional liability insurance solutions for financial institutions, private and public directors and officers liability insurance, errors and omissions liability insurance, and cyber segments; and healthcare solutions for hospitals, senior care providers, managed care organizations, miscellaneous medical facilities, and healthcare management liability segments.