Analysts Expect BRP Group, Inc. (NASDAQ:BRP) Will Announce Quarterly Sales of $129.13 Million

Wall Street analysts expect BRP Group, Inc. (NASDAQ:BRP) to post $129.13 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for BRP Group’s earnings. The highest sales estimate is $133.84 million and the lowest is $126.16 million. BRP Group posted sales of $65.84 million during the same quarter last year, which suggests a positive year over year growth rate of 96.1%. The company is expected to announce its next quarterly earnings results on Thursday, November 11th.

According to Zacks, analysts expect that BRP Group will report full year sales of $536.91 million for the current financial year, with estimates ranging from $521.58 million to $554.10 million. For the next financial year, analysts forecast that the firm will report sales of $741.22 million, with estimates ranging from $644.11 million to $814.70 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow BRP Group.

BRP Group (NASDAQ:BRP) last posted its earnings results on Monday, August 9th. The company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.02). BRP Group had a negative net margin of 2.14% and a positive return on equity of 8.31%. The firm had revenue of $119.71 million for the quarter, compared to analysts’ expectations of $103.87 million.

BRP has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on shares of BRP Group from $34.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 16th. JPMorgan Chase & Co. cut their price target on shares of BRP Group from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, May 24th. Raymond James upped their price target on shares of BRP Group from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, August 11th. Finally, Northcoast Research upgraded shares of BRP Group from a “neutral” rating to a “buy” rating in a research note on Thursday, August 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $34.00.

NASDAQ:BRP traded up $0.94 during midday trading on Thursday, reaching $32.47. 702,515 shares of the stock traded hands, compared to its average volume of 328,946. BRP Group has a 12-month low of $22.79 and a 12-month high of $40.82. The business has a 50-day moving average of $31.90 and a two-hundred day moving average of $28.78. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $3.24 billion, a PE ratio of -114.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69.

About BRP Group

BRP Group, Inc markets and sells insurance products and services in the United States. The company operates through four segments: Middle Market, Specialty, MainStreet, and Medicare. The Middle Market segment provides private risk management, commercial risk management, and employee benefits solutions for mid-to-large size businesses, and high net worth individuals and families.

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