Palomar Holdings, Inc. (NasdaqGS:PLMR) is scheduled to report Q3 earnings results after markets close for trading on November 10, 2020.
The company is expected to report earnings of -$0.54/share on revenue of $45.553 million. The consensus earnings per share (EPS) of -$0.54/share is based on a poll of 7 analysts and represents a decline in eps of −236.1% over the same quarter last year, when the company reported earnings of $0.40/share.
The revenue forecast of $45.553 million based on a poll of 5 analysts implies a year-over-year (YoY) growth in revenue of 60.6%. Last year the company reported $28.371 million in revenue for the quarter.
|Metric||Expected||Prior Year||YoY Change|
Earnings Call Trends
Historically, management has exceeded analyst expectations 4 out of the last 6 tracked quarters, missed 1 quarter, and met expectations 1 quarter.
What are your expectations from Palomar Holdings, Inc. for earnings this quarter? Let us know in the comments!
In the following table, we summarize the company’s stock price movements after earnings releases. The “Price Day Prior” column shows the closing stock price on the day before the earnings report, and the “Price Next Day” column shows the stock price at the end of the trading day after the earnings report. After the last earnings report for the period ending June 30, 2020, the stock price reacted by increasing 1.7%.
|Report Date||Price Day Prior||Price Next Day||Change %||Result|
|August 4, 2020||$97.23||$98.84||1.7%||Increase|
|May 5, 2020||$53.87||$56.25||4.4%||Increase|
|February 18, 2020||$57.83||$57.62||−0.4%||Decline|
|November 4, 2019||$44.10||$43.05||−2.4%||Decline|
The other question to consider is one of earnings manipulation. There is a lot of pressure on management each quarter to deliver on earnings expectations. The Beneish M-Score is a statistical model that provides some insight into whether the company might be manipulating earnings. With a Beneish M-Score of −1.60, the model suggests that the company is likely an earnings manipulator. A value of −1.60 implies a 5.4% chance of earnings manipulation.
Fundamentals And Technical Analysis
Palomar Holdings, Inc. is currently trading at $100.84/share, up 2.2% for the day. The company is trading at approximately 83.3% of its 52-week high of $121.87/share. The company’s stock price is up 2.0% since the last earnings report and up 10.9% over the previous week. The company’s 14 Day Relative Price Index (RSI) of 54.66 suggests the company is trading in technically neutral territory. The RSI is considered overbought when above 70 and oversold when below 30.
The current share price implies a price-to-earnings (P/E) multiple of 60.88 and a forward P/E multiple of 98.21.
Palomar Holdings, Inc.’s current share price also implies a price-to-book (P/B) multiple of 6.83. The following table summarizes some other key fundamental ratios:
|Last Reported Fiscal Period Key||FY2020.Q2|
|Period End Date||June 30, 2020|
|Stock Price (Current)||$100.84|
|P/E Ratio (Fwd)||98.2x|
|Total Debt / Total Capital||0.0%|
|Levered Free Cash Flow||$49.172 million|
|EV / EBITDA||39.2x|
Palomar Holdings, Inc. is a mid-cap stock with a market capitalization of $2.512 billion and a total enterprise value of $2.403 billion. The company operates in the Financials sector and the Insurance industry.
Palomar Holdings, Inc. provides specialty property insurance. It offers personal and commercial specialty property insurance products, including residential and commercial earthquake, specialty homeowners, commercial all-risk, Hawaii hurricane, residential flood, inland marine, assumed reinsurance, and real estate investor. The company was formerly known as GC Palomar Holdings. Palomar Holdings, Inc. was incorporated in 2013 and is headquartered in La Jolla, California.