James River Group (NASDAQ:JRVR) Posts Earnings Results, Misses Estimates By $0.89 EPS

James River Group (NASDAQ:JRVR - Get Free Report) issued its earnings results on Monday. The insurance provider reported ($0.74) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.89), Briefing.com reports. James River Group had a positive return on equity of 11.66% and a negative net margin of 12.79%. The company had revenue of $191.50 million for the quarter, compared to analyst estimates of $137.28 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company's quarterly revenue was down 8.9% compared to the same quarter last year.

James River Group Price Performance

Shares of NASDAQ JRVR traded down $1.66 during midday trading on Tuesday, reaching $4.96. The company's stock had a trading volume of 1,821,941 shares, compared to its average volume of 671,746. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average price of $6.51 and a 200 day moving average price of $7.35. James River Group has a one year low of $4.80 and a one year high of $11.49. The company has a market cap of $187.64 million, a price-to-earnings ratio of -2.65 and a beta of 0.17.

James River Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.03%. James River Group's payout ratio is currently -8.00%.

Analysts Set New Price Targets

JRVR has been the topic of a number of research analyst reports. Truist Financial decreased their price target on shares of James River Group from $9.00 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, August 7th. Compass Point cut their target price on shares of James River Group from $12.50 to $12.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Finally, JMP Securities cut their target price on shares of James River Group from $14.00 to $11.00 and set a "market outperform" rating on the stock in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $11.00.

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.