Heritage Insurance (HRTG) reported quarterly earnings of $0.41 per share for the quarter ending December 2021, significantly exceeding the Zacks Consensus Estimate of $0.18 per share. This marks a 310% increase from earnings of $0.10 per share a year earlier and represents an earnings surprise of 127.78%. The company generated revenues of $166.71 million during the quarter, surpassing estimates by 1.76% and up from $159.55 million in the previous year.
Despite the positive quarterly results, Heritage Insurance shares have decreased approximately 7.5% since the year began, compared to a 9.2% decline in the S&P 500. Looking ahead, the current consensus EPS estimate for the coming quarter is $0.11, with expected revenues of $155.71 million, and for the current fiscal year, estimates stand at $0.30 EPS and $658.23 million in revenues. The company’s Zacks Rank remains at #3 (Hold), indicating that its stock is expected to perform in line with the market.
