Zacks Downgrades Platinum Underwriters Holdings to Neutral (PTP)
Platinum Underwriters Holdings (NYSE:PTP) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Tuesday. They currently have a $67.30 price objective on the stock. Zacks‘s price target points to a potential upside of 4.91% from the company’s current price.
Platinum Underwriters Holdings (NYSE:PTP) traded up 0.12% during mid-day trading on Tuesday, hitting $64.23. 39,937 shares of the company’s stock traded hands. Platinum Underwriters Holdings has a 52 week low of $54.77 and a 52 week high of $66.43. The stock’s 50-day moving average is $63.75 and its 200-day moving average is $60.51. The company has a market cap of $1.730 billion and a P/E ratio of 9.33.
Platinum Underwriters Holdings (NYSE:PTP) last posted its quarterly earnings results on Wednesday, April 16th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $1.05. The company had revenue of $144.00 million for the quarter, compared to the consensus estimate of $156.91 million. During the same quarter in the previous year, the company posted $2.63 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Analysts expect that Platinum Underwriters Holdings will post $5.66 EPS for the current fiscal year.
Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Platinum Underwriters Holdings from $67.00 to $69.00 in a research note on Monday, April 21st.
Platinum Underwriters Holdings, Ltd. (NYSE:PTP) is a holding company.
To view Zacks’ full report, visit Zacks’ official website.
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