ProAssurance (PRA) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might help the stock continue moving higher in the near term.
PRA shareholders will receive $25 per share in cash from the $1.3 billion acquisition by The Doctors Company.
The Doctors Company, a medical malpractice insurer, said on Wednesday that it has entered into an agreement to acquire ProAssurance for about $1.3 billion.
PRA's fourth-quarter earnings benefit from higher investment income and lower expenses, partially offset by lower premiums in the Specialty P&C segment.
Citizens Capital Markets analyst Matthew J. Carletti reiterated the Market Outperform rating on ProAssurance Corporation PRA, with a price targe of $20.
ProAssurance Corporation (PRA) Q4 2024 Earnings Call Transcript
While the top- and bottom-line numbers for ProAssurance (PRA) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
ProAssurance (PRA) came out with quarterly earnings of $0.36 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to loss of $0.05 per share a year ago.
PRA's fourth-quarter results are likely to have benefited from growing investment income and lower costs.
Besides Wall Street's top -and-bottom-line estimates for ProAssurance (PRA), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended December 2024.
ProAssurance (PRA) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
PRA's third-quarter earnings benefit from improving underwriting results in its Specialty P&C segment. Declining profits in the Segregated Portfolio Cell Reinsurance unit partially offset the positives.