Montpelier Re Holdings Lowered to “Underweight” at Barclays Capital (MRH)
Montpelier Re Holdings (NYSE:MRH) was downgraded by investment analysts at Barclays Capital from an “equal weight” rating to an “underweight” rating in a note issued to investors on Wednesday, American Banking and Market News reports.
Montpelier Re Holdings (NYSE:MRH) traded down 0.80% on Wednesday, hitting $26.01. The stock had a trading volume of 89,609 shares. Montpelier Re Holdings has a 52-week low of $20.21 and a 52-week high of $27.50. The stock’s 50-day moving average is $25.66 and its 200-day moving average is $25.75. The company has a market cap of $1.320 billion and a P/E ratio of 13.28.
Montpelier Re Holdings (NYSE:MRH) last announced its earnings results on Thursday, July 25th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. Analysts expect that Montpelier Re Holdings will post $3.28 EPS 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 paid a dividend of $0.12 per share. This represents a $0.46 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Thursday, September 26th.
A number of other analysts have also recently weighed in on MRH. Analysts at Zacks reiterated a “neutral” rating on shares of Montpelier Re Holdings (NYSE:MRH) in a research note to investors on Monday. They now have a $28.00 price target on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock presently 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.