Root (NASDAQ:ROOT) Issues Quarterly Earnings Results, Beats Estimates By $1.93 EPS

Root (NASDAQ:ROOT - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of ($0.63) by $1.93, Zacks reports. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The company had revenue of $326.70 million during the quarter, compared to analysts' expectations of $287.79 million.

Root Price Performance

NASDAQ ROOT traded up $11.22 during trading hours on Friday, reaching $135.17. The company's stock had a trading volume of 1,259,349 shares, compared to its average volume of 492,107. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -109.89 and a beta of 2.58. Root has a 1-year low of $27.24 and a 1-year high of $141.23. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. The company's 50-day moving average is $94.20 and its two-hundred day moving average is $71.54.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ROOT. Citizens Jmp cut Root from a "strong-buy" rating to a "hold" rating in a report on Friday, November 22nd. JMP Securities cut Root from an "outperform" rating to a "market perform" rating in a report on Friday, November 22nd. Wells Fargo & Company reissued a "buy" rating on shares of Root in a report on Sunday. Scotiabank reissued a "sector perform" rating on shares of Root in a report on Sunday. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $90.00 price objective (up previously from $82.00) on shares of Root in a report on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $77.83.

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About Root

Root, Inc provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. It operates a direct-to-consumer model; and serves customers primarily through mobile applications, as well as through its website. The company's direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.