Third Point Reinsurance Upgraded to “Neutral” at Zacks (TPRE)
Third Point Reinsurance (NASDAQ:TPRE) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued on Friday. The firm currently has a $15.10 price objective on the stock. Zacks‘s price target suggests a potential downside of 1.11% from the stock’s previous close.
Third Point Reinsurance (NASDAQ:TPRE) traded up 3.81% on Friday, hitting $15.27. The stock had a trading volume of 414,667 shares. Third Point Reinsurance 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 $15.42 and a 200-day moving average of $15.65. The company has a market cap of $1.587 billion and a price-to-earnings ratio of 7.69.
Third Point Reinsurance (NASDAQ:TPRE) last announced its earnings results on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. On average, analysts predict that Third Point Reinsurance will post $1.74 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on TPRE. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Third Point Reinsurance in a research note on Wednesday, July 23rd. They now have a $19.00 price target on the stock, up previously from $17.00. Analysts at Citigroup Inc. initiated coverage on shares of Third Point Reinsurance in a research note on Monday, July 7th. They set a “neutral” rating and a $16.00 price target on the stock. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $16.60.
Third Point Reinsurance Ltd. (NASDAQ:TPRE) is a property and casualty reinsurance company.
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