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ProAssurance Corporation (NYSE:PRA ) Q2 2024 Earnings Conference Call August 9, 2024 10:30 AM ET Company Participants Heather Wietzel - SVP, IR Edward Rand - President and CEO Dana Hendricks - EVP, CFO and Treasurer Kevin Shook - President, Workers' Compensation Insurance Conference Call Participants Matt Carletti - JMP Paul Newsome - Piper Sandler Gregory Peters - Raymond James Mark Hughes - Truist Bob Farnam - Janney Operator Good morning, everyone. Welcome to ProAssurance's conference call to discuss the company's Second Quarter 2024 Results.
ProAssurance's (PRA) Q2 results reflect strong underwriting results in the Specialty P&C segment and investment income growth, despite profitability pressures in some segments.
The headline numbers for ProAssurance (PRA) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
ProAssurance (PRA) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to earnings of $0.16 per share a year ago.
ProAssurance's (PRA) second-quarter results are likely to reflect growing investment income.
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for ProAssurance (PRA), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended June 2024.
ProAssurance (PRA) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
ProAssurance (PRA) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.
The heavy selling pressure might have exhausted for ProAssurance (PRA) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
Thanks to its cost-controlling efforts, ProAssurance's (PRA) expenses are expected to decline in the coming quarters.