(FPIC) - Over the past 12 quarters, the company topped the Street's estimate by an average margin of 12.8%

FPIC Insurance Group, Inc. (FPIC), a Zacks #1 Rank stock, exceeded analysts' earnings expectations for 12 consecutive quarters by an average margin of 12.8%. The company has a price-to-book ratio of only 1.6, compared to 5.0 for the market. Its return on equity betters that of the industry average--15% compared to 11%. Full Analysis FPIC Insurance Group, Inc., through its subsidiaries, provides medical professional liability insurance for physicians, dentists and other healthcare providers. The company also offers insurance management services in the United States. It has been a very long time since FPIC posted earnings that fell short of analysts' expectations. One would have to go all the way back to the first quarter of 2003 to witness such an occurrence. Over the past 12 quarters, the company topped the Street's estimate by an average margin of 12.8%. On Aug 8, FPIC posted second-quarter profits of $9.4 million, or $0.87 per share. The results equated to a 4.8% positive earnings surprise. FPIC reported earnings per share of 80 cents in the prior-year period. Total revenues jumped 7.6% to $76.3 million from $70.9 million. For the first six months of the year, revenues climbed 11.7% to $154.2 million while profits increased 9.9% to $18.8 million. The consensus estimate for this quarter currently sits at 92 cents. When compared to the consensus of a week earlier, it has risen by 5.8%. For the entire year, analysts have upped their profit forecasts by 3.5% to $3.57 over the past seven days. The Board of Directors recently authorized the buyback of up to an additional 500,000 shares of its common stock through 2008. The amount is on top of the remaining 44,732 shares authorized for repurchase through 2007. FPIC is currently trading at a valuation of 11.3x trailing 12-month earnings and at 10.8x current fiscal-year estimated earnings. The market, as represented by the S&P 500, is trading at a valuation of 16.2x trailing 12-month earnings and at 15.6x its current fiscal-year estimated earnings. The company has a price-to-book ratio of only 1.6, compared to 5.0 for the market. Its return on equity betters that of the industry average--15% compared to 11%. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. This important indicator is updated daily on Zacks.com and is available to Zacks Premium subscribers. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions. | Blog Home| VitalStocks Home