Montpelier Re Holdings Rating Reiterated by Zacks (MRH)
Montpelier Re Holdings (NYSE:MRH)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Monday, American Banking and Market News reports. They currently have a $28.00 price target on the stock. Zacks‘ target price would suggest a potential upside of 6.59% from the company’s current price.
Zacks‘ analyst wrote, “Montpelier’s second-quarter earnings per share surpassed the Zacks Consensus Estimate as well as the year-ago earnings. The quarter experienced solid underwriting results. Both the Bermuda and London platforms delivered strong profitability. Montpelier continued the trend of outperforming expectations despite catastrophe occurrences and competitive market, riding on the strength of underwriting results. However, premiums declined compared with the year-ago numbers. Nevertheless, the company remains well positioned to deliver solid numbers going forward, given its increased exposure in the property catastrophe lines of business. In addition, focusing on underwriting operations, augmenting capital flexibility, and strengthening its competitive position augur well going forward. It also expanded underwriting partnerships with the launch of the Blue Capital asset management platform in December last year. Moreover, it remains focused on enhancing shareholder value. The company also benefits from tax exemptions in Bermuda. “
Montpelier Re Holdings (NYSE:MRH) traded down 0.76% during mid-day trading on Monday, hitting $26.07. The stock had a trading volume of 46,268 shares. Montpelier Re Holdings has a one year low of $20.21 and a one year high of $27.50. The stock’s 50-day moving average is $25.64 and its 200-day moving average is $25.74. The company has a market cap of $1.323 billion and a P/E ratio of 13.31.
Montpelier Re Holdings (NYSE:MRH) last announced its earnings results on Thursday, July 25th. The company reported $0.93 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.65 by $0.28. The company had revenue of $138.90 million for the quarter, compared to the consensus estimate of $155.13 million. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts predict that Montpelier Re Holdings will post $3.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.12 per share. This represents a $0.46 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, September 26th.
A number of other analysts have also recently weighed in on MRH. Analysts at TheStreet downgraded shares of Montpelier Re Holdings (NYSE:MRH) from a “buy” rating to a “hold” rating in a research note to investors on Friday, August 16th. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Montpelier Re Holdings (NYSE:MRH) from $27.50 to $28.00 in a research note to investors on Monday, July 29th. Finally, analysts at Barclays Capital raised their price target on shares of Montpelier Re Holdings (NYSE:MRH) from $26.00 to $28.00 in a research note to investors on Friday, July 26th. They now have an “equal weight” rating on the stock. Four analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average target price of $28.00.
Montpelier Re Holdings Ltd. through its subsidiaries in Bermuda, the United States, the United Kingdom and Switzerland, provides customized and insurance and reinsurance solutions to the global market.
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