RLI Corp. (NYSE:RLI) is reporting third quarter financial results on Wednesday 21st October 2020, after market close.
According to analysts surveyed by Thomson Reuters, RLI is expected to report 3Q20 income of $ 0.17 per share from revenue of $ 227.55 million.
For the full year, analysts anticipate top line of $ 881.57 million, while looking forward to income of $ 2.20 per share bottom line.
Previous Quarter Performance
RLI Corp. communicated income for the second quarter of $ 0.77 per share, from the revenue of $ 230.09 million. The quarterly earnings boosted 16.67 percent while revenues declined 0.43 percent compared with the same quarter last year.
The consensus estimates are income of $ 0.47 per share from $ 225.62 million in revenue. The bottom line results beat street analysts by $ 0.3 or 63.83 percent, at the same time, top line results outshined analysts by $ 4.47 million or 1.98 percent.
Stock Performance
Shares of RLI Corp. traded up $ 0.93 or 1.12 percent on Tuesday, reaching $ 83.61 with volume of 66.90 thousand shares. RLI Corp. has traded high as $ 84.09 and has cracked $ 82.82 on the downward trend
The closing price of $ 83.61, representing a 25.23 % increase from the 52 week low of $ 66.02 and a 17.26 % decrease over the 52 week high of $ 99.93.
The company has a market capital of $ 3.76 billion and is part of the Financial Services sector and Insurance – Property & Casualty industry.
Recent Analyst recommendations
- On 18th September 2020, initiated by Compass Point at Neutral rating, with $ 90.00 target price.
Conference Call
RLI Corp. will be hosting a conference call at 11:00 AM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.rlicorp.com
RLI Corp., an insurance holding company, underwrites property and casualty insurance in the United States and internationally. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile. This segment also offers coverages for security guards and in the areas of onshore energy-related businesses and environmental liability for underground storage tanks, contractors and asbestos, and environmental remediation specialists; and professional liability coverages focuses on providing errors and omission coverage to small to medium-sized design, technical, computer, and miscellaneous professionals.
