RLI (NYSE:RLI) Releases Earnings Results, Beats Expectations By $0.33 EPS

by · The Markets Daily

RLI (NYSE:RLI – Get Free Report) issued its earnings results on Monday. The insurance provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.33, Briefing.com reports. The business had revenue of $470.00 million during the quarter, compared to analysts’ expectations of $491.54 million. RLI had a net margin of 20.78% and a return on equity of 18.33%. The company’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.61 earnings per share.

RLI Trading Down 0.6 %

Shares of NYSE:RLI opened at $162.09 on Tuesday. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of 22.11 and a beta of 0.41. RLI has a 12-month low of $125.77 and a 12-month high of $164.25. The business has a 50-day moving average price of $153.93 and a 200 day moving average price of $146.85.

RLI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, August 30th. RLI’s dividend payout ratio is presently 15.83%.

Wall Street Analysts Forecast Growth

RLI has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $162.00 price objective on shares of RLI in a report on Tuesday, October 8th. Wolfe Research initiated coverage on RLI in a report on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 price target for the company. Keefe, Bruyette & Woods boosted their price objective on RLI from $169.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Jefferies Financial Group upped their target price on RLI from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, JMP Securities reiterated a “market perform” rating on shares of RLI in a report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.80.

View Our Latest Report on RLI

About RLI

(Get Free Report)

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.

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