Vertical profit was R $ 180 million, fired 70%, with ROE of 39.7% (Image: Disclosure/ Porto Seguro)
Different from your competitors on the bag, BB Segurity (BBSE3) and BOX SECURITY (Cxse3), a Harbor (PSSA3) jump after the first trimester numbers. Around 4 pm, the action was up 5.4%, to R $ 46.54.
In the year, the action shoots 28% and is in historical maxims. Earlier, the company released recurring net profit of R $ 832 million, growth of 28% over the same period last year.
The number surpassed consensus by 14.9% and the projections of the Genial in 13.7%. According to the house, Porto released results above expected“Reinforcing reading positive that we have about the new moment of the company. ”
The broker recalls that the ROE (Return on Heritage) It reached 24.2% in the quarter, expanding 3.3 percentage points (PP) in the quarter and 3.1 pp in the year, reinforcing the company’s new structural profitability level.
“Porto, which before the pandemic operated with ROE around 15%, has been able to support levels greater than 20% in recent quarters, driven by a successful portfolio diversification strategy and commercial focus on more profitable lines.”
Even in a quarter marked by historically weaker seasonality, all verticals delivered good results to analysts – highlighting Porto Healthwhich continues to gain scale and improve margins.
Vertical profit was R $ 180 million, fired 70%, with ROE of 39.7%.
Based on this performance, says the genius, Porto has room to deliver a result higher than the midpoint of Guidance, which projects a profit of R $ 3.1 billion in 2025 with a ROE of 20.8%.
“If you keep the current trajectory, the company can support the ROE close to 24% in the consolidated year, which tends to generate positive revisions in market estimates.”
The house reaffirmed the recommendation with the company as the favorite in the insurance sector.
“We continue with strong conviction in Porto’s strategy, which should continue to support a ROE above 20% in the medium and long term.”
The target price is $ 54, which implies a high of 17.9%.
Source: Moneytimes
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