Oppenheimer Reduces EPS Estimate for Amerisafe

Oppenheimer has lowered their EPS estimate on Amerisafe AMSFfollowing 3Q10 results. Oppenheimer's 4Q10 estimate is $0.43 which is $0.02 lower than their previous estimate. They have also lowered their 2011 estimate almost $0.10 to $1.57. In a note to clients Oppenheimer states, "We think as the company moves to improve underwriting margins through price increases and other actions, written premiums could feel some pressure as well. However, the company has one of the lowest expense ratios in the P&C space, which should help ease the pain of a higher loss ratio in the intermediate term. We remain at Perform."