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

James River Group (NASDAQ:JRVR) posted its quarterly earnings data on Monday. The insurance provider reported ($0.74) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.89), Briefing.com reports. The company had revenue of $191.50 million during the quarter, compared to analyst estimates of $137.28 million. James River Group had a positive return on equity of 4.18% and a negative net margin of 20.84%. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 EPS.

James River Group Price Performance

Shares of NASDAQ:JRVR opened at $4.60 on Thursday. The business has a 50 day moving average price of $6.42 and a 200 day moving average price of $7.30. The company has a market cap of $174.02 million, a price-to-earnings ratio of -1.14 and a beta of 0.17. The company has a quick ratio of 0.64, a current ratio of 0.67 and a debt-to-equity ratio of 0.52. James River Group has a twelve month low of $4.59 and a twelve month high of $11.49.

James River Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.01 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.04 annualized dividend and a yield of 0.87%. James River Group’s dividend payout ratio (DPR) is presently -4.94%.

Analyst Upgrades and Downgrades

JRVR has been the topic of several research reports. JMP Securities dropped their price target on shares of James River Group from $14.00 to $11.00 and set a “market outperform” rating on the stock in a research report on Tuesday, August 6th. Compass Point dropped their price target on James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Truist Financial reduced their price objective on shares of James River Group from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.