PLMR - Palomar: Above-Expectations Q1 Results Point To A Positive Outlook

2024-05-06 11:50:34 ET

Summary

• Palomar's normalized earnings per share grew by +36% YoY in Q1 2024, and this represented a +16% bottom line beat.
• PLMR sees its EPS increasing by +24% for full-year FY 2024, which will be more than double what it achieved in FY 2021.
• My rating for Palomar stays as a Buy, considering its favorable financial prospects for the current year.

Elevator Pitch

A Buy investment rating is awarded to Palomar Holdings, Inc. ( PLMR ) shares.

Previously, I reviewed PLMR's financial results for the final quarter of last year in my February 20, 2024 write-up . This latest update evaluates Palomar's most recent quarterly metrics....

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