Wall Street brokerages predict that Third Point Reinsurance Ltd (NYSE:TPRE) will post ($0.19) earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Third Point Reinsurance’s earnings, with the lowest EPS estimate coming in at ($0.21) and the highest estimate coming in at ($0.17). Third Point Reinsurance posted earnings of $0.52 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 136.5%. The business is scheduled to issue its next earnings report on Wednesday, November 14th.

According to Zacks, analysts expect that Third Point Reinsurance will report full-year earnings of $0.21 per share for the current financial year, with EPS estimates ranging from $0.19 to $0.23. For the next year, analysts forecast that the firm will post earnings of $2.20 per share, with EPS estimates ranging from $1.95 to $2.35. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Third Point Reinsurance.

Third Point Reinsurance (NYSE:TPRE) last announced its quarterly earnings results on Tuesday, July 31st. The insurance provider reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.14. Third Point Reinsurance had a return on equity of 5.66% and a net margin of 13.15%. The business had revenue of $172.67 million during the quarter, compared to the consensus estimate of $122.59 million.

TPRE has been the subject of several recent research reports. Zacks Investment Research upgraded Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Thursday, July 12th. ValuEngine upgraded Third Point Reinsurance from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.75.

Third Point Reinsurance stock traded down $0.35 during trading on Monday, hitting $11.59. 631,076 shares of the company were exchanged, compared to its average volume of 642,081. Third Point Reinsurance has a 52 week low of $11.41 and a 52 week high of $17.10. The company has a market capitalization of $1.30 billion, a P/E ratio of 4.41, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.07.

In other Third Point Reinsurance news, major shareholder Daniel S. Loeb sold 800,000 shares of the company’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $13.15, for a total value of $10,520,000.00. Following the completion of the transaction, the insider now owns 1,293,591 shares in the company, valued at approximately $17,010,721.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.10% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Element Capital Management LLC bought a new position in Third Point Reinsurance in the 1st quarter valued at $219,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Third Point Reinsurance in the 2nd quarter valued at $219,000. LMR Partners LLP bought a new position in Third Point Reinsurance in the 2nd quarter valued at $222,000. Xact Kapitalforvaltning AB grew its stake in Third Point Reinsurance by 59.1% in the 1st quarter. Xact Kapitalforvaltning AB now owns 16,688 shares of the insurance provider’s stock valued at $233,000 after purchasing an additional 6,200 shares during the period. Finally, Profund Advisors LLC grew its stake in Third Point Reinsurance by 32.7% in the 1st quarter. Profund Advisors LLC now owns 16,970 shares of the insurance provider’s stock valued at $237,000 after purchasing an additional 4,177 shares during the period. Hedge funds and other institutional investors own 72.04% of the company’s stock.

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, workers compensation, personal automobile, mortgage, and multi-line reinsurance; professional, transactional, and general liability reinsurance; and marine, travel, and extended warranty reinsurance products.

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