Title insurance provider Stewart Information Services (NYSE: STC) will be reporting results this Wednesday after the bell. Here’s what you need to know.
Stewart Information Services beat analysts’ revenue expectations last quarter, reporting revenues of $781.3 million, up 27.7% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates.
Is Stewart Information Services a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Stewart Information Services’s revenue to grow 17.3% year on year, slowing from the 19.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Stewart Information Services has a history of exceeding Wall Street’s expectations.
Looking at Stewart Information Services’s peers in the property & casualty insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Travelers posted flat year-on-year revenue, missing analysts’ expectations by 0.9%, and W. R. Berkley reported revenues up 1.2%, falling short of estimates by 1.4%. Travelers traded up 8.9% following the results.
Read our full analysis of Travelers’s results here and W. R. Berkley’s results here.
There has been positive sentiment among investors in the property & casualty insurance segment, with share prices up 9.8% on average over the last month. Stewart Information Services is up 5.8% during the same time and is heading into earnings with an average analyst price target of $81.67 (compared to the current share price of $70.05).
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