/Brown%20%26%20Brown%2C%20Inc_%20magnified-by%20Pavel%20Kapysh%20via%20Shutterstock.jpg)
Brown & Brown, Inc. (BRO), headquartered in Daytona Beach, Florida, markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally. Valued at $25.57 billion by market cap, the company has delivered risk management solutions to individuals and businesses since 1939 in over 500 locations worldwide. The leading insurance brokerage is expected to announce its fiscal second-quarter earnings for 2024 after the market closes on Monday, July 22.
Ahead of the event, analysts expect BRO to report a profit of $0.87 per share on a diluted basis, up 27.9% from $0.68 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
For fiscal 2024, analysts expect BRO to report EPS of $3.61, up 28.5% from $2.81 in fiscal 2023.
BRO stock has outperformed the S&P 500’s ($SPX) 16.1% gains on a YTD basis, with shares up 26.6% during this period. Similarly, it outshined the S&P 500 Financials Sector SPDR’s (XLF) 10.5% gains over the same time frame.
On Apr. 22, BRO reported its Q1 results. Its adjusted EPS was $1.14, beating the consensus estimate of $1.07. The company’s revenue stood at $1.26 billion, surpassing the Wall Street estimates of $1.21 billion. BRO shares closed up marginally on the day the results were released but have been on an uptrend since then.
Analysts’ consensus opinion on BRO stock is bullish, with a “Moderate Buy” rating overall. Out of 12 analysts covering the stock, four advise a “Strong Buy” rating, two have a “Moderate Buy” rating, five recommend a “Hold” rating, and one gives a “Moderate Sell.” The average analyst price target for BRO is $90.73, indicating a marginal potential upside from the current levels.
On the date of publication, Dipanjan Banchur did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
