Heritage Insurance Stock Fair Value – Heritage Insurance Exceeds Expectations, Reports GAAP EPS of $0.55 and Revenue of $176.9M

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Heritage Insurance ($NYSE:HRTG) has exceeded expectations and reported a GAAP EPS of $0.55 and revenue of $176.9M. This is $0.45 higher than the estimated figure and $11.09M higher than the expected amount. Heritage Insurance is a Florida-based insurance holding company providing property and casualty insurance products to homeowners, condominium owners, and commercial customers. They are a publicly traded company offering an array of insurance products throughout the state of Florida. Heritage Insurance owns four subsidiary companies which offer a variety of products including windstorm, flood, and coastal coverage for residential and commercial customers.

The company also offers specialty insurance products including surety bonds, marine coverage, and workers compensation. This impressive financial report from Heritage Insurance shows the company’s commitment to meeting the needs of its customers and providing a quality product. Heritage Insurance is well-positioned for continued success in the future and investors should take note of their impressive financial performance.

Earnings

HERITAGE INSURANCE recently released their FY2022 Q4 earning report ending December 31 2022, and the results have exceeded expectations. The company reported total revenue of 174.59M USD and net income of 12.5M USD. This marks a 4.7% increase in total revenue and a 125.4% decrease in net income compared to the previous year. Over the last three years, HERITAGE INSURANCE’s total revenue has increased from 159.55M USD to 174.59M USD.

Their GAAP earnings per share (EPS) was reported as $0.55. This puts HERITAGE INSURANCE in a strong position going into the new year.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Heritage Insurance. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Heritage Insurance. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Heritage Insurance. More…

Key Ratios Snapshot

Some of the financial key ratios for Heritage Insurance are shown below. More…

Stock Price

On Thursday, HERITAGE INSURANCE stock opened at $3.4 and closed at $3.3, representing a 3.5% decrease from the prior closing price of $3.4. This could be attributed to the fact that the company did not meet analyst estimates for EPS and revenue. Despite this, the company’s financial performance was strong overall, as they reported gains in both metrics. Overall, Heritage Insurance‘s financial results show that the company is still on a strong footing and is able to exceed expectations.

This bodes well for their future performance and will likely continue to keep the stock price supported. Investors should keep an eye on this company for further gains in the future. Live Quote…

Analysis – Heritage Insurance Stock Fair Value

At GoodWhale, we recently conducted an analysis of HERITAGE INSURANCE‘s wellbeing. After examining the market place, our proprietary Valuation Line concluded that the fair value of HERITAGE INSURANCE share is around $8.0. However, currently the stock is traded at $3.3, which is undervalued by 58.7%. By considering the potential opportunity cost, investors may consider taking a closer look at HERITAGE INSURANCE’s stocks. More…

Peers

These companies have all established themselves as successful leaders in the industry, providing customers with a wide range of insurance products and services.

– SiriusPoint Ltd ($NYSE:SPNT)

SiriusPoint Ltd is a leading provider of property and casualty insurance services. Founded in 2009, the company has grown to become one of the largest players in the sector, offering a comprehensive portfolio of products and services to its customers. With a market cap of 1.45 billion as of 2023, SiriusPoint has demonstrated strong performance in the industry. Despite the challenging macroeconomic conditions, the company’s return on equity was -11.54%, indicating that it has been able to generate a return from its investments and operations. SiriusPoint operates in multiple countries, with a strong presence in Europe, Asia and the United States.

– United Fire Group Inc ($NASDAQ:UFCS)

United Fire Group Inc is an insurance holding company that provides property and casualty insurance and life insurance products. As of 2023, the company has a market capitalization of 681.25 million dollars, indicating the company’s overall value and size. Additionally, the company has a Return on Equity (ROE) of 1.32%. This suggests that the company is relatively successful in utilizing investor capital to generate profits.

– Tian Ruixiang Holdings Ltd ($NASDAQ:TIRX)

Tian Ruixiang Holdings Ltd is a Fintech company based in China. It is focused on providing innovative technological solutions for promotional activities, payment services, and other financial services to its customers. The company’s market capitalization as of 2023 is 6.84M and its Return on Equity (ROE) is -8.75%. This indicates that the company has a relatively low equity capitalization and negative returns from its investments. Despite this, Tian Ruixiang is still a well-known and established company that has a strong focus on technological advancement. It is continuing to expand and provide innovative financial services for its customers.

Summary

Despite the strong earnings report, the stock price moved down the same day. This could be attributed to investors taking profits after a strong run-up in the stock price in the months leading up to the earnings report. With the company’s strong fundamentals, investors should continue to watch developments at Heritage Insurance to see if it can continue its growth trajectory.