Crawford & Company (NYSE: CRD.B) experienced a notable decline in its share price before the market opened on Monday. The stock, which closed at $10.58 on the previous trading day, opened at $10.13. At the time of reporting, shares were last traded at $10.2410, with a trading volume of 594 shares. This gap down indicates a significant shift in investor sentiment ahead of the company’s earnings announcement.
Financial Overview and Earnings Report
Crawford & Company operates within the business services sector, specializing in claims management and risk solutions for insurance carriers and self-insured entities globally. The company has a market capitalization of $498.89 million and reports a P/E ratio of 15.60. Its beta stands at 0.70, indicating lower volatility compared to the market.
The firm’s financial metrics reveal a debt-to-equity ratio of 1.06, with both a quick ratio and a current ratio of 1.36. Additionally, Crawford & Company has a 50-day moving average price of $10.56 and a 200-day moving average price of $10.30.
On November 3, 2023, Crawford & Company reported quarterly earnings, revealing earnings per share of $0.32, exceeding analysts’ expectations of $0.29 by $0.03. However, the firm’s revenue of $322.17 million fell short of the anticipated $344.32 million. The company recorded a return on equity of 28.00% and a net margin of 2.42%. Analysts project that Crawford & Company will post earnings per share of $0.83 for the current fiscal year.
Company Background and Market Position
Founded in 1941 by James O. Crawford, Crawford & Company has established itself as a leader in the claims management industry. The company’s services include property and casualty claims adjusting, third-party administration, managed repair, catastrophe response, and risk consulting. Its extensive network of professionals helps clients streamline claims processes, manage costs, and enhance customer satisfaction across various sectors.
As the company navigates its current financial landscape, investors will be keenly observing its performance metrics and strategic direction moving forward. The fluctuations in share price reflect broader market dynamics and investor confidence, positioning Crawford & Company as a significant player in the business services sector.
