Bowhead Specialty (NYSE:BOW) Updates Q3 2024 Earnings Guidance

Bowhead Specialty (NYSE:BOW) updated its third quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 0.360-0.390 for the period, compared to the consensus earnings per share estimate of 0.320. The company issued revenue guidance of $114.0 million-$119.0 million, compared to the consensus revenue estimate of $101.6 million.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JMP Securities raised their price target on Bowhead Specialty from $31.00 to $32.00 and gave the company a “market outperform” rating in a report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $32.00 price objective on shares of Bowhead Specialty in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.40.

Bowhead Specialty Trading Up 1.7 %

Shares of Bowhead Specialty stock traded up $0.51 during trading on Thursday, hitting $30.00. 357,399 shares of the stock traded hands, compared to its average volume of 157,495. The business has a fifty day simple moving average of $29.39. Bowhead Specialty has a 52 week low of $22.14 and a 52 week high of $32.55.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $98.90 million for the quarter, compared to the consensus estimate of $94.28 million. The business’s revenue for the quarter was up 51.0% on a year-over-year basis. As a group, analysts predict that Bowhead Specialty will post 1.3 earnings per share for the current fiscal year.

About Bowhead Specialty

Bowhead Specialty Holdings Inc provides specialty property and casualty insurance products in the United States. It underwrites casualty insurance solutions for risks in the construction, distribution, heavy manufacturing, real estate, and hospitality segments; professional liability insurance solutions for financial institutions, private and public directors and officers liability insurance, errors and omissions liability insurance, and cyber segments; and healthcare solutions for hospitals, senior care providers, managed care organizations, miscellaneous medical facilities, and healthcare management liability segments.