Third Point Reinsurance Ltd (NYSE:TPRE) Expected to Announce Earnings of $0.57 Per Share

Wall Street brokerages expect Third Point Reinsurance Ltd (NYSE:TPRE) to report earnings per share (EPS) of $0.57 for the current quarter, according to Zacks. Zero analysts have issued estimates for Third Point Reinsurance’s earnings. Third Point Reinsurance reported earnings per share of ($0.14) during the same quarter last year, which suggests a positive year-over-year growth rate of 507.1%. The company is expected to announce its next earnings report on Tuesday, November 5th.

On average, analysts expect that Third Point Reinsurance will report full year earnings of $3.05 per share for the current fiscal year. For the next financial year, analysts expect that the company will post earnings of $2.00 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Third Point Reinsurance.

Third Point Reinsurance (NYSE:TPRE) last issued its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $0.57 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.11). The company had revenue of $214.58 million during the quarter.

A number of analysts have recently issued reports on the company. Zacks Investment Research raised Third Point Reinsurance from a “sell” rating to a “hold” rating in a research report on Friday, October 4th. ValuEngine cut Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 4th.

NYSE TPRE traded up $0.22 during trading hours on Friday, hitting $9.87. 899,000 shares of the company traded hands, compared to its average volume of 581,995. Third Point Reinsurance has a twelve month low of $8.85 and a twelve month high of $12.21. The stock has a market capitalization of $909.37 million, a price-to-earnings ratio of -3.02, a P/E/G ratio of 0.21 and a beta of 1.07. The business’s 50-day moving average is $9.78 and its 200-day moving average is $10.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.79 and a current ratio of 0.79.

In other Third Point Reinsurance news, CEO Daniel V. Malloy acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average cost of $9.67 per share, with a total value of $48,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.18% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in TPRE. Nuveen Asset Management LLC acquired a new stake in Third Point Reinsurance during the 2nd quarter worth approximately $14,003,000. D. E. Shaw & Co. Inc. lifted its holdings in Third Point Reinsurance by 138.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,391,938 shares of the insurance provider’s stock worth $14,365,000 after purchasing an additional 807,558 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Third Point Reinsurance by 198.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,127,167 shares of the insurance provider’s stock worth $11,632,000 after purchasing an additional 749,600 shares during the last quarter. Morgan Stanley lifted its holdings in Third Point Reinsurance by 369.2% during the 2nd quarter. Morgan Stanley now owns 793,657 shares of the insurance provider’s stock worth $8,190,000 after purchasing an additional 624,502 shares during the last quarter. Finally, Zacks Investment Management acquired a new stake in Third Point Reinsurance during the 2nd quarter worth approximately $4,329,000. 65.40% of the stock is owned by institutional investors and hedge funds.

Third Point Reinsurance Company Profile

Third Point Reinsurance Ltd., through its subsidiaries, provides specialty property and casualty reinsurance products to insurance and reinsurance companies worldwide. It underwrites homeowners' and commercial, workers' compensation, personal automobile, mortgage, and multi-line reinsurance products; professional, transactional, and general liability reinsurance products; and marine, travel, and extended warranty reinsurance products.

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