Are WR Berkley (NYSE:WRB) Shares Worth Your Time and Dime Following Recent Bank of America Downgrade?

June 14, 2018 - By Linda Rogers

W. R. Berkley Corporation (NYSE:WRB) Logo

WR Berkley (NYSE:WRB) Receives a Downgrade

In a report sent to investors today, Bank of America cut shares of WR Berkley (NYSE:WRB) to a “Underperform” rating from the previous “Neutral” rating.

W. R. Berkley Corporation (NYSE:WRB) Ratings Coverage

Among 2 analysts covering WR Berkley (NYSE:WRB), 0 have Buy rating, 0 Sell and 2 Hold. Therefore 0 are positive. WR Berkley has $7600 highest and $72.0 lowest target. $75’s average target is -0.78% below currents $75.59 stock price. WR Berkley had 4 analyst reports since December 21, 2017 according to SRatingsIntel. The rating was maintained by Keefe Bruyette & Woods on Thursday, December 21 with “Hold”. The stock has “Hold” rating by RBC Capital Markets on Wednesday, April 25. The rating was maintained by RBC Capital Markets with “Hold” on Wednesday, January 31. On Wednesday, January 31 the stock rating was maintained by Keefe Bruyette & Woods with “Hold”.

The stock decreased 1.06% or $0.81 during the last trading session, reaching $75.59. About 157,437 shares traded. W. R. Berkley Corporation (NYSE:WRB) has risen 13.74% since June 14, 2017 and is uptrending. It has outperformed by 1.17% the S&P500.

Analysts await W. R. Berkley Corporation (NYSE:WRB) to report earnings on July, 24. They expect $0.81 EPS, up 24.62 % or $0.16 from last year’s $0.65 per share. WRB’s profit will be $98.55 million for 23.33 P/E if the $0.81 EPS becomes a reality. After $1.00 actual EPS reported by W. R. Berkley Corporation for the previous quarter, Wall Street now forecasts -19.00 % negative EPS growth.

W. R. Berkley Corporation, an insurance holding company, operates as commercial lines writer in the United States and internationally. The company has market cap of $9.20 billion. It operates through two divisions, Insurance and Reinsurance. It has a 17.74 P/E ratio. The Insurance segment underwrites insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.

More recent W. R. Berkley Corporation (NYSE:WRB) news were published by: Benzinga.com which released: “Benzinga’s Top Upgrades, Downgrades For June 14, 2018” on June 14, 2018. Also 247Wallst.com published the news titled: “Top Analyst Upgrades and Downgrades: Capital One, Hewlett Packard Enterprises, Kohl’s, Roku, Spotify, Steel …” on June 14, 2018. Streetinsider.com‘s news article titled: “BofA/Merrill Lynch Downgrades WR Berkley (WRB) to Underperform Citing Fair Valuation” with publication date: June 14, 2018 was also an interesting one.

W. R. Berkley Corporation (NYSE:WRB) Institutional Positions Chart

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