Brokerages Anticipate Third Point Reinsurance Ltd (TPRE) Will Announce Earnings of -$0.19 Per Share

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Equities research analysts expect Third Point Reinsurance Ltd (NYSE:TPRE) to announce earnings per share (EPS) of ($0.19) for the current quarter, Zacks reports. Zero analysts have provided estimates for Third Point Reinsurance’s earnings, with estimates ranging from ($0.21) to ($0.17). Third Point Reinsurance reported earnings of $0.52 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 136.5%. The business is scheduled to announce its next earnings results on Wednesday, November 14th.

According to Zacks, analysts expect that Third Point Reinsurance will report full year earnings of $0.21 per share for the current financial year, with EPS estimates ranging from $0.19 to $0.23. For the next financial year, analysts forecast that the business will report earnings of $2.20 per share, with EPS estimates ranging from $1.95 to $2.35. Zacks’ EPS averages are a mean average based on a survey of analysts that cover Third Point Reinsurance.

Third Point Reinsurance (NYSE:TPRE) last announced its earnings results on Tuesday, July 31st. The insurance provider reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.14. Third Point Reinsurance had a net margin of 13.15% and a return on equity of 5.66%. The business had revenue of $172.67 million for the quarter, compared to analyst estimates of $122.59 million.

A number of equities analysts recently issued reports on TPRE shares. Zacks Investment Research lowered shares of Third Point Reinsurance from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. ValuEngine raised shares of Third Point Reinsurance from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $16.75.

In other Third Point Reinsurance news, major shareholder Daniel S. Loeb sold 800,000 shares of the business’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $13.15, for a total value of $10,520,000.00. Following the sale, the insider now owns 1,293,591 shares of the company’s stock, valued at approximately $17,010,721.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 12.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in TPRE. Element Capital Management LLC bought a new stake in shares of Third Point Reinsurance in the 1st quarter worth about $219,000. Xact Kapitalforvaltning AB grew its holdings in shares of Third Point Reinsurance by 59.1% in the 1st quarter. Xact Kapitalforvaltning AB now owns 16,688 shares of the insurance provider’s stock worth $233,000 after purchasing an additional 6,200 shares during the last quarter. Profund Advisors LLC grew its holdings in shares of Third Point Reinsurance by 32.7% in the 1st quarter. Profund Advisors LLC now owns 16,970 shares of the insurance provider’s stock worth $237,000 after purchasing an additional 4,177 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Third Point Reinsurance in the 2nd quarter worth about $219,000. Finally, LMR Partners LLP bought a new stake in shares of Third Point Reinsurance in the 2nd quarter worth about $222,000. 72.04% of the stock is currently owned by hedge funds and other institutional investors.

TPRE stock traded down $0.35 on Monday, reaching $11.59. 631,076 shares of the company were exchanged, compared to its average volume of 642,081. Third Point Reinsurance has a 12 month low of $11.41 and a 12 month high of $17.10. The firm has a market capitalization of $1.30 billion, a P/E ratio of 4.41, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.07.

Third Point Reinsurance Company Profile

Third Point Reinsurance Ltd., through its subsidiaries, provides specialty property and casualty reinsurance products to insurance and reinsurance companies worldwide. It underwrites homeowners, workers compensation, personal automobile, mortgage, and multi-line reinsurance; professional, transactional, and general liability reinsurance; and marine, travel, and extended warranty reinsurance products.

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