Zacks: Brokerages Anticipate Third Point Reinsurance Ltd (TPRE) to Announce $0.69 Earnings Per Share

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Brokerages expect that Third Point Reinsurance Ltd (NYSE:TPRE) will post earnings per share (EPS) of $0.69 for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Third Point Reinsurance’s earnings. The lowest EPS estimate is $0.24 and the highest is $1.14. Third Point Reinsurance reported earnings per share of ($0.26) in the same quarter last year, which indicates a positive year-over-year growth rate of 365.4%. The company is expected to issue its next earnings report on Wednesday, May 8th.

On average, analysts expect that Third Point Reinsurance will report full-year earnings of $1.70 per share for the current fiscal year, with EPS estimates ranging from $0.94 to $2.45. For the next fiscal year, analysts forecast that the firm will report earnings of $1.59 per share, with EPS estimates ranging from $1.18 to $2.00. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Third Point Reinsurance.

TPRE has been the subject of several research analyst reports. ValuEngine cut shares of Third Point Reinsurance from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. TheStreet cut shares of Third Point Reinsurance from a “c” rating to a “d+” rating in a research report on Thursday, February 28th. Finally, Zacks Investment Research upgraded shares of Third Point Reinsurance from a “strong sell” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $14.33.

Several institutional investors have recently modified their holdings of TPRE. BlueMountain Capital Management LLC acquired a new position in shares of Third Point Reinsurance in the 3rd quarter valued at $133,000. Wedge Capital Management L L P NC grew its holdings in shares of Third Point Reinsurance by 16.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 29,917 shares of the insurance provider’s stock valued at $288,000 after buying an additional 4,316 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Third Point Reinsurance in the 3rd quarter valued at $179,000. Capital International Investors acquired a new position in shares of Third Point Reinsurance in the 3rd quarter valued at $53,105,000. Finally, First Trust Advisors LP grew its holdings in shares of Third Point Reinsurance by 36.2% in the 3rd quarter. First Trust Advisors LP now owns 236,822 shares of the insurance provider’s stock valued at $3,079,000 after buying an additional 62,890 shares during the period. Institutional investors own 68.85% of the company’s stock.

TPRE stock opened at $10.67 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.82. Third Point Reinsurance has a fifty-two week low of $8.85 and a fifty-two week high of $14.75. The company has a market capitalization of $995.39 million, a P/E ratio of -3.26, a P/E/G ratio of 0.42 and a beta of 1.02.

About Third Point Reinsurance

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

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