Stewart Information Q2 revenue beats, helped by data center transactions
STC•Outlook and key figures
The company did not provide specific guidance for the current or future quarters.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $899.2 mln | $846.73 mln (3 Analysts) |
| Q2 EPS | $1.21 | ||
| Q2 Net Income | $37.2 mln |
The current average analyst rating on the shares is "buy," with 4 "strong buy" or "buy," 1 "hold," and no "sell" or "strong sell" recommendations.
The average consensus recommendation for the property & casualty insurance peer group is "buy."
Wall Street's median 12-month price target for Stewart Information Services Corp is $80.00, about 14.1% above its July 21 closing price of $70.13.
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago.
Commercial title and real estate solutions drive results
Commercial title growth — Higher domestic commercial transaction volume and larger data center transactions drove a 20% increase in domestic commercial title revenues.
Agency title revenue — Agency title revenues rose 25% on higher transaction volume, with net agency title revenues up 26%.
Real estate solutions expansion — Segment revenue jumped 75%, mainly due to the MCS acquisition and higher credit information and valuation services revenue.
