Platinum Underwriters Holdings Ltd. Reaches New 12-Month High at $60.00 (PTP)
Platinum Underwriters Holdings (NYSE:PTP)’s share price reached a new 52-week high during mid-day trading on Monday, Stock Ratings Network reports. The stock traded as high as $60.00 and last traded at $59.73, with a volume of 67,710 shares traded. The stock had previously closed at $59.29.
A number of research firms have recently commented on PTP. Analysts at TheStreet downgraded shares of Platinum Underwriters Holdings (NYSE:PTP) from a “buy” rating to a “hold” rating in a research note to investors on Thursday, September 5th. Analysts at Zacks downgraded shares of Platinum Underwriters Holdings (NYSE:PTP) from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, June 18th. They now have a $63.30 price target on the stock.
Three research analysts have rated the stock with a hold rating, Platinum Underwriters Holdings currently has a consensus rating of “Hold” and an average target price of $51.77.
Platinum Underwriters Holdings has a 1-year low of $40.73 and a 1-year high of $60.00. The stock’s 50-day moving average is $58.25 and its 200-day moving average is $57.21. The company has a market cap of $1.748 billion and a price-to-earnings ratio of 5.64.
Platinum Underwriters Holdings (NYSE:PTP) last announced its earnings results on Wednesday, July 17th. The company reported $1.61 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.24 by $0.37. The company had revenue of $142.90 million for the quarter, compared to the consensus estimate of $152.43 million. During the same quarter last year, the company posted $1.97 earnings per share. Platinum Underwriters Holdings’s revenue was down 1.5% compared to the same quarter last year. Analysts expect that Platinum Underwriters Holdings will post $5.42 EPS for the current fiscal year.
Platinum Underwriters Holdings, Ltd. (NYSE:PTP) is a holding company.
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