Specialty insurance company Hamilton Insurance Group (NYSE: HG) will be reporting earnings this Thursday after market hours. Here’s what you need to know.
Hamilton Insurance Group beat analysts’ revenue expectations last quarter, reporting revenues of $758.9 million, down 1.3% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates.
Is Hamilton Insurance Group 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 Hamilton Insurance Group’s revenue to decline 5.5% year on year, a reversal from the 26% 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. Hamilton Insurance Group rarely misses Wall Street’s revenue estimates.
Looking at Hamilton Insurance Group’s peers in the reinsurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. RenaissanceRe’s revenues decreased 13.7% year on year, beating analysts’ expectations by 3.7%, and Everest Group reported a revenue decline of 11.8%, falling short of estimates by 1.8%. RenaissanceRe’s stock price was unchanged after the resultswhile Everest Group was down 4.7%.
Read our full analysis of RenaissanceRe’s results here and Everest Group’s results here.
Investors in the reinsurance segment have had steady hands going into earnings, with share prices up 1.7% on average over the last month. Hamilton Insurance Group is up 3.5% during the same time and is heading into earnings with an average analyst price target of $35.86 (compared to the current share price of $35.69).
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