Analysts Forecast 26% YoY Increase in Earnings for Arthur J Gallagher & Co

Truist Securities's Mark Hughes raised their price target on Arthur J Gallagher & Co (NYSE: AJG) by 7.4% from $270 to $290 on 2023/12/14. The analyst maintained their Strong Buy rating on the stock.

This increase in price target comes after the company's recent investor meeting with the executive management team. During the meeting, CEO Pat Gallagher expressed optimism regarding the economy as well as the company's long-term growth prospects. Hughes noted that Arthur J Gallagher's overall financial guidance is in line with prior expectations, which likely contributed to the analyst's positive outlook on the stock.

RBC Capital's Scott Heleniak also provided an update on AJG on 2023/12/14. Heleniak raised their price target by 3.1%, from $262 to $270, and maintained their Buy rating on the stock. With these two analysts maintaining their bullish stance, it signals confidence in Arthur J Gallagher & Co's future performance.

According to data from WallStreetZen, 87.5% of top-rated analysts currently rate AJG as a Strong Buy or Buy, while 12.5% see it as a Hold. No analysts are recommending or strongly recommending selling the stock. This consensus among analysts further supports the positive sentiment surrounding AJG.

Looking ahead, analysts are forecasting that AJG's upcoming year will deliver earnings per share (EPS) of $6.72. If these projections hold true, it would represent a 26.3% increase on a year-over-year basis. This potential growth in earnings is another factor contributing to the positive outlook for the company.

However, it's worth noting that AJG's stock price has seen some fluctuations. Since their last quarterly report on 2023/09/30, the stock price has declined by 0.4%. However, on a year-over-year basis, the stock is up by 17.6%. Despite this increase, AJG has slightly trailed behind the broader S&P 500 index, which has risen by 18.1% during the same period.

Truist Securities analyst Mark Hughes, who raised the price target for AJG, is ranked in the top 3% out of 4,431 Wall Street analysts by WallStreetZen. Hughes specializes in the Energy, Financial Services, and Healthcare sectors, and has an impressive track record with an average return of 21.1% and a 77.6% win rate.

Arthur J Gallagher & Co (AJG) is a global insurance brokerage and risk management services firm. The company focuses on the placement of specialized and hard-to-place insurance, acting as a brokerage wholesaler, managing general agent, and general underwriter for distributing specialized insurance coverage to underwriters. Additionally, AJG provides contract claim settlement, loss control consulting, and insurance property appraisal and administration services. Established in 1927, AJG is headquartered in Rolling Meadows, IL.

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WallStreetZen and Don Francis do not hold any positions in the companies mentioned in this article. The information and statistics provided herein are presented for general informational purposes only and may not be accurate, complete, or up-to-date. It should not be interpreted as a recommendation to buy or sell any stocks and should not be solely relied upon for making investment decisions. It does not take into account your financial situation or risk profile. All investors should conduct their own investment due diligence before buying a stock. WallStreetZen expressly disclaims any liability for the accuracy, reliability, or completeness of the analysts' information, price targets, ratings, or opinions.