Root (ROOT) Set to Announce Earnings on Wednesday

Root (NASDAQ:ROOT) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Root to post earnings of ($0.61) per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Root (NASDAQ:ROOT) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($1.74) by $1.22. Root had a negative net margin of 9.81% and a negative return on equity of 50.80%. The business had revenue of $289.20 million during the quarter, compared to the consensus estimate of $264.80 million. During the same quarter in the prior year, the firm earned ($2.55) EPS. The business’s revenue was up 286.6% on a year-over-year basis. On average, analysts expect Root to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Root Stock Up 7.0 %

ROOT opened at $40.47 on Tuesday. The firm has a 50-day simple moving average of $40.53 and a two-hundred day simple moving average of $51.43. Root has a 52 week low of $7.22 and a 52 week high of $86.57. The company has a market capitalization of $607.05 million, a PE ratio of -7.05 and a beta of 2.53. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.98.

Analysts Set New Price Targets

Several research analysts have commented on ROOT shares. Cantor Fitzgerald raised shares of Root to a “strong-buy” rating in a report on Thursday, October 3rd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $82.00 price objective (down previously from $88.00) on shares of Root in a report on Friday, August 16th. Wells Fargo & Company dropped their price objective on shares of Root from $71.00 to $64.00 and set an “equal weight” rating for the company in a report on Thursday, October 10th. Jefferies Financial Group lowered their price target on shares of Root from $84.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, UBS Group lowered their price target on shares of Root from $71.00 to $61.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.63.

About Root

Root, Inc provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. It operates a direct-to-consumer model; and serves customers primarily through mobile applications, as well as through its website. The company's direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.