Is W. R. Berkley Corporation (WRB)’s Fuel Running High? The Stock Formed Bullish Multiple Top

January 14, 2018 - By Dolores Ford

The stock of W. R. Berkley Corporation (WRB) shows a multiple tops pattern with $71.52 target or 3.00 % above today’s $69.44 share price. The 7 months chart pattern indicates low risk for the $8.46 billion company. It was reported on Jan, 14 by Finviz.com. If the $71.52 price target is reached, the company will be worth $253.71 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 1.21% or $0.83 during the last trading session, reaching $69.44. About 419,387 shares traded. W. R. Berkley Corporation (NYSE:WRB) has risen 22.62% since January 14, 2017 and is uptrending. It has outperformed by 5.92% the S&P500.

Analysts await W. R. Berkley Corporation (NYSE:WRB) to report earnings on January, 30. They expect $0.76 EPS, down 7.32 % or $0.06 from last year’s $0.82 per share. WRB’s profit will be $92.56M for 22.84 P/E if the $0.76 EPS becomes a reality. After $0.36 actual EPS reported by W. R. Berkley Corporation for the previous quarter, Wall Street now forecasts 111.11 % EPS growth.

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

Among 10 analysts covering W.R. Berkley (NYSE:WRB), 1 have Buy rating, 1 Sell and 8 Hold. Therefore 10% are positive. W.R. Berkley has $74 highest and $52 lowest target. $65.14’s average target is -6.19% below currents $69.44 stock price. W.R. Berkley had 21 analyst reports since July 28, 2015 according to SRatingsIntel. As per Tuesday, July 28, the company rating was maintained by Compass Point. The stock of W. R. Berkley Corporation (NYSE:WRB) earned “Sector Perform” rating by RBC Capital Markets on Tuesday, July 28. RBC Capital Markets maintained W. R. Berkley Corporation (NYSE:WRB) rating on Wednesday, July 26. RBC Capital Markets has “Hold” rating and $7200 target. The stock of W. R. Berkley Corporation (NYSE:WRB) has “Hold” rating given on Thursday, December 21 by Keefe Bruyette & Woods. RBC Capital Markets maintained the stock with “Hold” rating in Monday, October 2 report. The stock has “Neutral” rating by Compass Point on Tuesday, October 13. RBC Capital Markets maintained the stock with “Hold” rating in Monday, July 10 report. The company was maintained on Friday, September 1 by Keefe Bruyette & Woods. The firm has “Sell” rating given on Wednesday, October 25 by UBS. Bank of America maintained the shares of WRB in report on Wednesday, October 25 with “Neutral” rating.

More recent W. R. Berkley Corporation (NYSE:WRB) news were published by: Insurancejournal.com which released: “California’s Enforcement against WR Berkley Ends in $12M Settlement” on May 23, 2017. Also Therealdeal.com published the news titled: “Mystery buyer of SL Green’s 600 Lex is revealed” on January 09, 2018. Businesswire.com‘s news article titled: “WR Berkley Corporation Announces Executive Appointments at Gemini …” with publication date: January 05, 2018 was also an interesting one.

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