American Coastal Insurance Corp reports results for the quarter ended June 30 - Earnings Summary

• American Coastal Insurance Corp ACIC.OQ reported quarterly adjusted earnings of 54 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 40 cents. The lone analyst forecast for the quarter was for earnings of $2.25 per share.

• Revenue rose 23.8% to $78.44 million from a year ago; analysts expected $68.93 million.

• American Coastal Insurance Corp's reported EPS for the quarter was 53 cents​.

• The company reported quarterly net income of $26.44 million.

• American Coastal Insurance Corp shares had fallen by 7.7% this quarter and lost 20.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 462.5% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the property & casualty insurance peer group is also "buy"

• Wall Street's median 12-month price target for American Coastal Insurance Corp is $20.00, about 49.1% above its last closing price of $10.18

This summary was machine generated from LSEG data August 6 at 09:52 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)