Heritage Insurance (US:HRTG) ZACKSยท2024-11-06 23:41Company Performance - Heritage Insurance reported quarterly earnings of $0.27 per share, significantly exceeding the Zacks Consensus Estimate of $0.02 per share, and compared to a loss of $0.28 per share a year ago, representing an earnings surprise of 1,250% [1] - The company posted revenues of $211.85 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.92%, and showing an increase from year-ago revenues of $186.3 million [2] - Heritage Insurance has surpassed consensus EPS estimates three times over the last four quarters and topped consensus revenue estimates four times during the same period [2] Stock Performance - Heritage Insurance shares have increased approximately 66.9% since the beginning of the year, outperforming the S&P 500's gain of 21.2% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.24 on revenues of $212.93 million, and for the current fiscal year, it is $0.87 on revenues of $817.72 million [7] Industry Outlook - The Zacks Industry Rank for Insurance - Property and Casualty is currently in the top 20% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry performance can materially impact stock performance [5][8]