James River Group (NASDAQ:JRVR) Posts Earnings Results, Misses Expectations By $0.66 EPS

James River Group (NASDAQ:JRVR) announced its earnings results on Monday. The insurance provider reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.66), Zacks reports. The business had revenue of $126.71 million for the quarter, compared to analysts’ expectations of $159.91 million. James River Group had a positive return on equity of 3.90% and a negative net margin of 20.84%. During the same quarter last year, the firm earned $0.33 earnings per share.

James River Group Trading Down 1.0 %

JRVR stock opened at $4.90 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.38. James River Group has a 52-week low of $4.35 and a 52-week high of $10.06. The company’s 50-day simple moving average is $4.80 and its 200-day simple moving average is $5.60. The firm has a market cap of $185.36 million, a P/E ratio of -1.21 and a beta of 0.07.

James River Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.01 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.82%. James River Group’s dividend payout ratio (DPR) is currently -0.99%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities dropped their price objective on shares of James River Group from $11.00 to $8.00 and set a “market outperform” rating on the stock in a report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.40.

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.