RLI Corp. (RLI) Q3 Earnings and Revenues Beat Estimates
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 21 2024
0mins
Source: NASDAQ.COM
Earnings Performance: RLI Corp. reported quarterly earnings of $1.31 per share, exceeding estimates and showing significant growth from $0.61 per share a year ago, while revenues also surpassed expectations at $426.18 million.
Future Outlook: The company's favorable earnings estimate revisions have led to a Zacks Rank #1 (Strong Buy), indicating potential outperformance in the market, with upcoming consensus estimates suggesting continued revenue growth for the next quarter and fiscal year.
Analyst Views on ACGL
Wall Street analysts forecast ACGL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ACGL is 106.01 USD with a low forecast of 87.15 USD and a high forecast of 125.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
5 Buy
6 Hold
1 Sell
Moderate Buy
Current: 90.940
Low
87.15
Averages
106.01
High
125.00
Current: 90.940
Low
87.15
Averages
106.01
High
125.00
About ACGL
Arch Capital Group Ltd. is a Bermuda-based company, which provides insurance, reinsurance, and mortgage insurance through its subsidiaries. The insurance segment consists of the Company’s insurance underwriting units, which offer specialty product lines, including construction and national accounts; excess and surplus casualty; professional lines; programs; property, energy, marine and aviation; travel, accident and health; warranty and lender solutions, and others (consisting of alternative markets, excess workers' compensation and surety business). The reinsurance segment consists of its reinsurance underwriting units, which offer specialty product lines, including casualty; marine and aviation; other specialty; property catastrophe; property excluding property catastrophe, and others (consisting of life reinsurance and other). The mortgage segment includes its United States primary mortgage insurance business, investment and services related to United States credit-risk transfer.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
