Palomar (PLMR) Set to Announce Quarterly Earnings on Monday

Palomar (NASDAQ:PLMR - Get Free Report) is scheduled to post its quarterly earnings results after the market closes on Monday, November 4th. Analysts expect Palomar to post earnings of $0.96 per share for the quarter. Investors that wish to register for the company's conference call can do so using this link.

Palomar (NASDAQ:PLMR - Get Free Report) last released its quarterly earnings data on Monday, August 5th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.16. Palomar had a net margin of 21.63% and a return on equity of 20.83%. The firm had revenue of $123.08 million for the quarter, compared to analyst estimates of $338.74 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. Palomar's quarterly revenue was up 47.0% on a year-over-year basis. On average, analysts expect Palomar to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Palomar Price Performance

NASDAQ:PLMR traded up $2.33 during midday trading on Tuesday, reaching $93.30. 108,522 shares of the company traded hands, compared to its average volume of 162,414. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 26.81 and a beta of 0.33. Palomar has a twelve month low of $49.08 and a twelve month high of $103.40. The company has a fifty day moving average price of $96.06 and a 200 day moving average price of $88.56.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PLMR shares. Piper Sandler lifted their price objective on shares of Palomar from $99.00 to $105.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Palomar from $88.00 to $91.00 and gave the company a "neutral" rating in a research report on Thursday, July 11th. Jefferies Financial Group boosted their price target on Palomar from $110.00 to $113.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Evercore ISI raised their price target on Palomar from $90.00 to $99.00 and gave the company an "in-line" rating in a report on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Palomar from $96.00 to $113.00 and gave the stock an "outperform" rating in a report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $105.50.

Insider Buying and Selling

In other news, President Jon Christianson sold 3,805 shares of the firm's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $103.04, for a total transaction of $392,067.20. Following the completion of the transaction, the president now owns 51,926 shares in the company, valued at approximately $5,350,455.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Mac Armstrong sold 7,000 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $96.28, for a total value of $673,960.00. Following the completion of the transaction, the chief executive officer now owns 433,388 shares in the company, valued at $41,726,596.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Jon Christianson sold 3,805 shares of the business's stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $103.04, for a total value of $392,067.20. Following the sale, the president now owns 51,926 shares in the company, valued at approximately $5,350,455.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,520 shares of company stock valued at $3,626,486 over the last three months. Company insiders own 4.30% of the company's stock.

Palomar Company Profile

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.