Specialty insurance company Bowhead Specialty Holdings (NYSE: BOW) will be reporting results this Tuesday before the bell. Here’s what to expect.
Bowhead Specialty beat analysts’ revenue expectations last quarter, reporting revenues of $151.7 million, up 27.1% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ net premiums earned estimates and a solid beat of analysts’ revenue estimates.
Is Bowhead Specialty 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 Bowhead Specialty’s revenue to grow 20.2% year on year, slowing from the 35.3% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Bowhead Specialty has a history of exceeding Wall Street’s expectations.
Looking at Bowhead Specialty’s peers in the property & casualty insurance segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Stewart Information Services delivered year-on-year revenue growth of 27.7%, beating analysts’ expectations by 4.7%, and First American Financial reported revenues up 16.2%, topping estimates by 2.4%. Stewart Information Services traded up 3.9% following the results while First American Financial was also up 3.5%.
Read our full analysis of Stewart Information Services’s results here and First American Financial’s results here.
There has been positive sentiment among investors in the property & casualty insurance segment, with share prices up 3.2% on average over the last month. Bowhead Specialty is up 7.5% during the same time and is heading into earnings with an average analyst price target of $29.86 (compared to the current share price of $24.31).
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