International General Insurance (NASDAQ:IGIC) Issues Earnings Results, Beats Estimates By $0.01 EPS

International General Insurance (NASDAQ:IGIC) released its quarterly earnings data on Tuesday. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01, Zacks reports. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. The firm had revenue of $135.20 million for the quarter, compared to analyst estimates of $136.20 million.

International General Insurance Trading Up 4.6 %

Shares of NASDAQ:IGIC opened at $27.29 on Wednesday. The stock has a market capitalization of $1.25 billion, a PE ratio of 8.94 and a beta of 0.27. International General Insurance has a 1 year low of $11.51 and a 1 year high of $27.66. The firm has a fifty day moving average price of $24.83 and a 200 day moving average price of $22.22.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Oppenheimer started coverage on shares of International General Insurance in a research note on Thursday, November 21st. They issued an “outperform” rating and a $30.00 price target on the stock. Royal Bank of Canada boosted their price target on International General Insurance from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

About International General Insurance

International General Insurance Holdings Ltd. engages in the provision of specialty insurance and reinsurance solutions worldwide. The company operates through three segments: Specialty Long-tail, Specialty Short-tail, and Reinsurance. It is involved in underwriting a portfolio of specialty risks, including energy, property, construction and engineering, ports and terminals, general aviation, political violence, professional lines, financial institutions, motor, marine liability, contingency, marine, treaty, and casualty insurance and reinsurance.