Wells Fargo has updated its price target for W. R. Berkley (WRB, Financial), increasing it slightly from $69 to $70 while maintaining an Equal Weight rating on the stock. This adjustment follows WRB's recent earnings report, which revealed an earnings per share (EPS) of $1.01, surpassing both the firm's projection of $1.00 and the broader market expectation of 98 cents.
The positive earnings performance was attributed to improved investment income and a decrease in the expense ratio, which helped counterbalance the impact of a higher loss ratio and foreign exchange challenges. Additionally, net premiums written (NPW) experienced a 9.9% increase, aligning closely with the company's guidance range of 10% to 15%, with the insurance segment achieving a 10.2% growth.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 14 analysts, the average target price for WR Berkley Corp (WRB, Financial) is $68.61 with a high estimate of $80.00 and a low estimate of $52.47. The average target implies an upside of 1.89% from the current price of $67.33. More detailed estimate data can be found on the WR Berkley Corp (WRB) Forecast page.
Based on the consensus recommendation from 17 brokerage firms, WR Berkley Corp's (WRB, Financial) average brokerage recommendation is currently 2.6, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for WR Berkley Corp (WRB, Financial) in one year is $66.96, suggesting a downside of 0.55% from the current price of $67.33. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the WR Berkley Corp (WRB) Summary page.
