Arthur J. Gallagher & Co. (AJG), headquartered in Rolling Meadows, Illinois, is a global leader in insurance brokerage, risk management, and consulting services. With a market cap of $62.69 billion, AJG provides a broad range of solutions that help businesses and individuals manage risk and protect assets. The company is poised to announce its Q3 earnings after the market closes on Thursday, Oct. 24.
Ahead of the event, analysts expect AJG to report a profit of $2.26 per share, up 13% from $2 in the year-ago quarter. The company has surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Its adjusted earnings of $2.26 per share for the last quarter surpassed the consensus estimate marginally. Arthur J. Gallagher's Q2 earnings beat was driven by substantial margin expansion.
For fiscal 2024, analysts expect AJG to report EPS of $10.11, up 15.4% from $8.76 in fiscal 2023.
AJG stock is up 30.4% on a YTD basis, outperforming the broader S&P 500 Index's ($SPX) 20.6% gains and the SPDR S&P Insurance ETF’s (KIE) 24.6% returns over the same time frame.
Shares of Arthur J. Gallagher surged 3.5% in the following trading session after its Q2 earnings release on Jul. 25. The company’s revenue was $2.74 billion, missing the consensus estimate of $2.76 billion.
The consensus opinion on AJG stock is moderately bullish, with an overall “Moderate Buy” rating. Of the 20 analysts covering the stock, 10 advise a “Strong Buy” rating, one suggests a “Moderate Buy,” seven indicate a “Hold,” and two advise a “Moderate Sell.”
AJG's average analyst price target is $289.31, which indicates that the stock trades at a premium.
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On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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