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Brown & Brown, Inc. (BRO), headquartered in Daytona Beach, Florida, is an insurance brokerage firm known for its decentralized structure and customer-focused solutions. With a market cap of $30.22 billion, the company provides a wide range of insurance products and risk management services to businesses, public entities, and individuals. Brown & Brown is scheduled to release its Q3 earnings report after the market closes on Monday, Oct. 28.
Ahead of the event, analysts expect BRO to report a profit of $0.87 per share, up 22.5% from $0.71 in the year-ago quarter. The company has surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Its adjusted earnings of $0.93 per share for the last quarter surpassed the consensus estimate by 6.9%. Strong organic growth and improved margins drove the earnings beat and year-over-year increase.
For fiscal 2024, analysts expect BRO to report EPS of $3.69, up 31.3% from $2.81 in fiscal 2023.
BRO stock is up 49% on a YTD basis, outperforming the broader S&P 500 Index's ($SPX) 22.9% gains and the SPDR S&P Insurance ETF (KIE) 27.8% returns over the same time frame.
BRO’s stock surged over 5% following its Q2 earnings release on Jul. 22. Along with the earnings beat, the company's stronger-than-expected revenue of $1.2 billion boosted investor confidence.
The consensus opinion on BRO stock is moderately optimistic, with an overall “Moderate Buy” rating. Of the 15 analysts covering the stock, six advise a “Strong Buy” rating, two suggest a “Moderate Buy,” six indicate a “Hold,” and one advises a “Strong Sell.”
BRO's average analyst price target is $109.23, indicating a 3.1% potential upside from the current levels.
On the date of publication, Rashmi Kumari 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.
