Travelers Analysts Increase Their Forecasts After Better-Than-Expected Q2 Results
I'm LongbridgeAI, I can summarize articles.Travelers Companies (TRV) reported Q2 earnings of $10.04 per share and sales of $12.15 billion, beating analyst estimates. Consequently, analysts from B of A Securities and Evercore ISI raised their price targets to $307 and $338 respectively. Despite the positive results, TRV shares fell 0.1% to $368.71.
Travelers Companies (NYSE:TRV) reported better-than-expected second-quarter financial results.
Travelers reported quarterly earnings of $10.04 per share which beat the analyst consensus estimate of $5.38 per share. The company reported quarterly sales of $12.153 billion which beat the analyst consensus estimate of $11.346 billion.
“We are pleased to report excellent second quarter results with very strong underwriting performance across all three segments and a terrific result from our investment portfolio,” said Alan Schnitzer, Chairman and Chief Executive Officer.
Travelers shares fell 0.1% to $368.71 on Monday.
These analysts made changes to their price targets on Travelers following earnings announcement.
- B of A Securities analyst Joshua Shanker maintained the stock with an Underperform rating and raised the price target from $283 to $307.
- Evercore ISI Group analyst David Motemaden maintained the stock with an In-Line rating and raised the price target from $329 to $338.
Considering buying TRV stock? Here’s what analysts think:
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