Third Point Reinsurance Ltd (TPRE) Expected to Post Earnings of $0.79 Per Share
Analysts predict that Third Point Reinsurance Ltd (NYSE:TPRE) will announce earnings per share (EPS) of $0.79 for the current quarter, according to Zacks. Zero analysts have made estimates for Third Point Reinsurance’s earnings, with estimates ranging from $0.40 to $1.03. Third Point Reinsurance posted earnings per share of ($0.49) in the same quarter last year, which would indicate a positive year-over-year growth rate of 261.2%. The firm is scheduled to announce its next quarterly earnings report on Thursday, May 4th.
According to Zacks, analysts expect that Third Point Reinsurance will report full year earnings of $1.93 per share for the current year, with EPS estimates ranging from $1.68 to $2.18. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.96 per share, with EPS estimates ranging from $1.82 to $2.16. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow Third Point Reinsurance.
Third Point Reinsurance (NYSE:TPRE) last posted its earnings results on Thursday, February 23rd. The insurance provider reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.07. Third Point Reinsurance had a return on equity of 8.30% and a net margin of 15.99%. The firm had revenue of $156.32 million for the quarter, compared to analysts’ expectations of $93.25 million.
Separately, Zacks Investment Research cut shares of Third Point Reinsurance from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 5th.
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In other news, major shareholder Brook Lvr L.P. Pine sold 25,825 shares of Third Point Reinsurance stock in a transaction on Friday, January 20th. The shares were sold at an average price of $11.16, for a total transaction of $288,207.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 731,967 shares of company stock worth $8,435,660 in the last quarter. 36.10% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Two Sigma Investments LP raised its position in shares of Third Point Reinsurance by 1,796.0% in the fourth quarter. Two Sigma Investments LP now owns 191,593 shares of the insurance provider’s stock worth $2,213,000 after buying an additional 181,488 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Third Point Reinsurance during the fourth quarter worth approximately $278,000. Renaissance Technologies LLC raised its position in shares of Third Point Reinsurance by 101.1% in the fourth quarter. Renaissance Technologies LLC now owns 652,462 shares of the insurance provider’s stock worth $7,536,000 after buying an additional 327,962 shares during the period. Trexquant Investment LP acquired a new position in shares of Third Point Reinsurance during the fourth quarter worth approximately $282,000. Finally, Teza Capital Management LLC acquired a new position in shares of Third Point Reinsurance during the fourth quarter worth approximately $437,000. Institutional investors own 71.48% of the company’s stock.
Third Point Reinsurance (NYSE:TPRE) traded down 0.42% during mid-day trading on Tuesday, reaching $11.75. The company had a trading volume of 36,182 shares. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 45.02 and a beta of 1.18. The company’s 50 day moving average is $12.05 and its 200 day moving average is $11.94. Third Point Reinsurance has a 52-week low of $10.98 and a 52-week high of $13.03.
Third Point Reinsurance Company Profile
Third Point Reinsurance Ltd. is a holding company. Through the Company’s reinsurance subsidiaries, it provides property and casualty reinsurance coverage to insurance and reinsurance companies. The Company’s segments include Property and Casualty Reinsurance, and Corporate. The Company’s investable assets are managed by its investment manager, Third Point LLC.
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