James River Group (NASDAQ:JRVR) Releases Quarterly Earnings Results, Misses Expectations By $0.89 EPS

James River Group (NASDAQ:JRVR) issued its quarterly earnings results on Monday. The insurance provider reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.89), Briefing.com reports. James River Group had a positive return on equity of 3.88% and a negative net margin of 20.84%. The company had revenue of $191.50 million during the quarter, compared to the consensus estimate of $137.28 million. During the same quarter in the previous year, the business posted $0.48 EPS. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis.

James River Group Stock Performance

Shares of NASDAQ:JRVR traded down $0.29 during midday trading on Wednesday, hitting $4.67. 441,129 shares of the stock were exchanged, compared to its average volume of 670,233. The business’s 50-day moving average price is $6.47 and its 200 day moving average price is $7.32. James River Group has a 12 month low of $4.62 and a 12 month high of $11.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.64 and a current ratio of 0.64.

James River Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, December 16th. James River Group’s payout ratio is -4.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on JRVR. Compass Point reduced their target price on James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Truist Financial decreased their target price on James River Group from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Finally, JMP Securities dropped their target price on shares of James River Group from $14.00 to $11.00 and set a “market outperform” rating for the company in a report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.