Third Point Reinsurance Ltd Rating Lowered to Equal Weight at Morgan Stanley (TPRE)
Third Point Reinsurance Ltd (NASDAQ:TPRE) was downgraded by equities research analysts at Morgan Stanley to an “equal weight” rating in a research note issued to investors on Monday, AnalystRatingsNetwork reports.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse raised their price target on shares of Third Point Reinsurance Ltd from $15.00 to $16.00 in a research note to investors on Tuesday, November 26th. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Third Point Reinsurance Ltd from $14.50 to $15.50 in a research note to investors on Wednesday, November 13th. They now have a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $15.88.
Shares of Third Point Reinsurance Ltd (NASDAQ:TPRE) traded down 3.54% during mid-day trading on Monday, hitting $17.46. 122,637 shares of the company’s stock traded hands. Third Point Reinsurance Ltd has a 52 week low of $12.25 and a 52 week high of $18.84. The stock has a 50-day moving average of $17.02 and a 200-day moving average of $15.29. The company has a market cap of $1.803 billion and a P/E ratio of 7.94.
Third Point Reinsurance Ltd (NASDAQ:TPRE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.43 by $0.03. The company had revenue of $119.70 million for the quarter, compared to the consensus estimate of $89.08 million. On average, analysts predict that Third Point Reinsurance Ltd will post $2.05 earnings per share for the current fiscal year.
Third Point Reinsurance Ltd. (NASDAQ:TPRE) is a property and casualty reinsurance company.
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