Specialty insurance company Bowhead Specialty Holdings (NYSE:BOW) will be announcing earnings results this Tuesday before the bell. Here’s what to look for.
Bowhead Specialty beat analysts’ revenue expectations last quarter, reporting revenues of $155.7 million, up 26.9% year on year. It was an incredible quarter for the company, with a solid beat of analysts’ net premiums earned estimates and a beat of analysts’ EPS 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 22.1% year on year, slowing from the 34.7% 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. 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 Q2 results, giving us a hint as to what we can expect. First American Financial delivered year-on-year revenue growth of 15%, beating analysts’ expectations by 3.4%, and Markel Group reported flat revenue, topping estimates by 1.1%. First American Financial traded down 2.2% following the results while Markel Group was also down 6.4%.
Read our full analysis of First American Financial’s results here and Markel Group’s results here.
Investors in the property & casualty insurance segment have had steady hands going into earnings, with share prices flat over the last month. Bowhead Specialty’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $34.14 (compared to the current share price of $31.14).
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.