Bowhead Specialty (NYSE:BOW) Updates Q3 2024 Earnings Guidance

by · The Markets Daily

Bowhead Specialty (NYSE:BOW – Get Free Report) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.360-0.390 for the period, compared to the consensus earnings per share estimate of 0.320. The company issued revenue guidance of $114.0 million-$119.0 million, compared to the consensus revenue estimate of $101.6 million.

Bowhead Specialty Price Performance

Shares of Bowhead Specialty stock opened at $30.56 on Tuesday. The firm’s 50-day moving average price is $29.30. Bowhead Specialty has a 12 month low of $22.14 and a 12 month high of $32.55.

Bowhead Specialty (NYSE:BOW – Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $98.90 million for the quarter, compared to analysts’ expectations of $94.28 million. The business’s revenue for the quarter was up 51.0% on a year-over-year basis. As a group, equities analysts expect that Bowhead Specialty will post 1.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BOW. JMP Securities increased their price target on Bowhead Specialty from $31.00 to $32.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $32.00 price target on shares of Bowhead Specialty in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Bowhead Specialty has an average rating of “Hold” and a consensus target price of $29.40.

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Bowhead Specialty Company Profile

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Bowhead Specialty Holdings Inc provides specialty property and casualty insurance products in the United States. It underwrites casualty insurance solutions for risks in the construction, distribution, heavy manufacturing, real estate, and hospitality segments; professional liability insurance solutions for financial institutions, private and public directors and officers liability insurance, errors and omissions liability insurance, and cyber segments; and healthcare solutions for hospitals, senior care providers, managed care organizations, miscellaneous medical facilities, and healthcare management liability segments.

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