Investors were optimistic this morning with major U.S. equity indexes hovering near last week’s records. Equities shrugged off April’s disappointing employment numbers on Friday and chugged upward late in the session. The Dow and the S&P 500 hovered near record highs in early trading this morning. Let’s see if stocks will hold at this level as earnings season winds down.
Today’s trade alert features a mighty mid-cap that seems poised for gains as the bull market broadens out. Read on to find out more.
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Old Republic International Corp. (ORI) is a holding company engaged in insurance underwriting and related services. Through subsidiaries, the company markets, underwrites, and provides risk management services for general, title, and other insurance coverages. On April 22, 2021, Old Republic published financial results for its Q1 2021, reporting that net income excluding investment gains increased by 46.5% year-over-year (YOY) to $206.3 million. This growth was driven primarily by the company’s General Insurance and Title Insurance businesses.
The stock also has an impressive record of positive earnings surprises, as it hasn’t missed an earnings consensus estimate in any of the last four quarters. Most recently, Old Republic reported EPS of $0.69 versus consensus estimate of $0.45.
For the current fiscal year, Old Republic is expected to post earnings of $2.05 per share on $7.1 billion in revenues. This represents a -8.48% change in EPS on a -0.31% change in revenues. For the next fiscal year, the company is expected to earn $2.15 per share on $6.96 billion in revenues which would be a year-over-year change of 14.63% and -1.93%, respectively.
ORI saw its share price increase 70% in the last year, slightly above the market return of around 56% (not including dividends).
The stock currently trades at just 4.68 times earnings and sports a 3.37% dividend yield.
Where to invest $1,000 right now...
Before you consider buying Old Republic International, you'll want to see this.
Investing legend, Keith Kohl just revealed his #1 stock for 2022...
And it's not Old Republic International.
Jeff Bezos, Peter Thiel, and the Rockefellers are betting a colossal nine figures on this tiny company that trades publicly for $5.
Keith say’s he thinks investors will be able to turn a small $50 stake into $150,000.
Find that to be extraordinary?
Click here to watch his presentation, and decide for yourself...
But you have to act now, because a catalyst coming in a few weeks is set to take this company mainstream... And by then, it could be too late.
Click here to find out the name and ticker of Keith's #1 pick...