Montpelier Re Holdings Now Covered by Deutsche Bank (MRH)
Research analysts at Deutsche Bank started coverage on shares of Montpelier Re Holdings (NYSE:MRH) in a report released on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
The analysts wrote, “We are initiating coverage of Montpelier Re with a Buy and installing EPS estimates for 2014 and 2015 of $3.30 and $3.70, respectively. We are the high on the Street in terms of EPS outlook. We view a price-to-book valuation of about 1.0x as appropriate for a 9% ROE on its equity base adjusted for the assumption of habitual 25% over-reserving, leading to a target price of $37.50. We recommend buying shares of Montpelier Re–whose core business is property-catastrophe reinsurance–fully aware of pricing pressures on the property-catastrophe marketplace, which, in our opinion remains the most profitable, albeit volatile, corner of the insurance marketplace.”
A number of other analysts have also recently weighed in on MRH. Analysts at Zacks upgraded shares of Montpelier Re Holdings from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, October 22nd. They now have a $33.00 price target on the stock. Separately, analysts at Barclays downgraded shares of Montpelier Re Holdings from an “equal weight” rating to an “underweight” rating in a research note to investors on Wednesday, October 2nd. They now have a $26.00 price target on the stock, down previously from $28.00. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Montpelier Re Holdings has an average rating of “Hold” and a consensus target price of $29.00.
Shares of Montpelier Re Holdings (NYSE:MRH) traded up 0.14% during mid-day trading on Monday, hitting $29.10. 73,060 shares of the company’s stock traded hands. Montpelier Re Holdings has a 52-week low of $21.52 and a 52-week high of $29.25. The stock’s 50-day moving average is $27.85 and its 200-day moving average is $26.24. The company has a market cap of $1.439 billion and a P/E ratio of 17.30.
Montpelier Re Holdings (NYSE:MRH) last released its earnings data on Monday, October 28th. The company reported $1.38 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.42 by $0.96. The company had revenue of $153.00 million for the quarter, compared to the consensus estimate of $151.45 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts predict that Montpelier Re Holdings will post $4.20 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.13 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Friday, December 27th.
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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