International General Insurance (NASDAQ:IGIC) Issues Earnings Results

International General Insurance (NASDAQ:IGIC) announced its quarterly earnings results on Tuesday. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01, Zacks reports. International General Insurance had a return on equity of 22.78% and a net margin of 26.24%. The company had revenue of $135.20 million for the quarter, compared to the consensus estimate of $136.20 million.

International General Insurance Stock Up 4.6 %

Shares of IGIC stock opened at $27.29 on Wednesday. The stock has a 50 day moving average of $24.83 and a 200-day moving average of $22.22. The firm has a market cap of $1.25 billion, a PE ratio of 8.94 and a beta of 0.27. International General Insurance has a 12 month low of $11.51 and a 12 month high of $27.66.

Wall Street Analysts Forecast Growth

IGIC has been the subject of several recent analyst reports. Royal Bank of Canada upped their price objective on shares of International General Insurance from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Oppenheimer initiated coverage on shares of International General Insurance in a report on Thursday, November 21st. They set an “outperform” rating and a $30.00 price target for the company.

About International General Insurance

International General Insurance Holdings Ltd. engages in the provision of specialty insurance and reinsurance solutions worldwide. The company operates through three segments: Specialty Long-tail, Specialty Short-tail, and Reinsurance. It is involved in underwriting a portfolio of specialty risks, including energy, property, construction and engineering, ports and terminals, general aviation, political violence, professional lines, financial institutions, motor, marine liability, contingency, marine, treaty, and casualty insurance and reinsurance.