FBR Capital Reiterates an 'Outperform' on Argo Group (AGII); 1Q Loss Expected--Valuation Remains Compelling
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Price: $58.85 --0%
Rating Summary:
4 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital reiterates an 'Outperform' on Argo Group International (NASDAQ: AGII), raises PT by $1 to $47.
FBR analyst says, "Even before the massive catastrophe losses, Argo was generating ROEs in the low single digits, which is subpar for any insurer. But we believe that the company can employ many strategies to expand ROE and to grow book value going forward, although 2011 is clearly a wash."
"We believe that the significant tornado losses will affect Argo, just like any other commercial and personal lines insurer writing business across the country. The company is likely to announce its expected losses soon enough for us to make further refinements to our estimates before the 2Q11 quarterly results are released. In the meantime, we are reducing our 2011 operating EPS estimate to ($1.05) from ($0.70) and decreasing our 2012 forecast to $2.50 from $2.60."
For more ratings news on Argo Group International click here and for the rating history of Argo Group International click here.
Shares of Argo Group International closed at $30.99 yesterday.
FBR analyst says, "Even before the massive catastrophe losses, Argo was generating ROEs in the low single digits, which is subpar for any insurer. But we believe that the company can employ many strategies to expand ROE and to grow book value going forward, although 2011 is clearly a wash."
"We believe that the significant tornado losses will affect Argo, just like any other commercial and personal lines insurer writing business across the country. The company is likely to announce its expected losses soon enough for us to make further refinements to our estimates before the 2Q11 quarterly results are released. In the meantime, we are reducing our 2011 operating EPS estimate to ($1.05) from ($0.70) and decreasing our 2012 forecast to $2.50 from $2.60."
For more ratings news on Argo Group International click here and for the rating history of Argo Group International click here.
Shares of Argo Group International closed at $30.99 yesterday.
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