Fidelis Insurance (NYSE:PLGO) Posts Earnings Results, Beats Expectations By $0.19 EPS

Fidelis Insurance (NYSE:PLGO) issued its quarterly earnings results on Wednesday. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.19, Zacks reports. Fidelis Insurance had a return on equity of 14.25% and a net margin of 15.33%.The business had revenue of $612.20 million during the quarter, compared to the consensus estimate of $577.19 million.

Fidelis Insurance Trading Up 15.3%

NYSE:PLGO traded up $3.09 during midday trading on Thursday, reaching $23.33. 1,047,850 shares of the company traded hands, compared to its average volume of 376,434. The firm has a market capitalization of $2.01 billion, a P/E ratio of 6.02 and a beta of 0.36. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.74 and a quick ratio of 0.74. Fidelis Insurance has a twelve month low of $14.80 and a twelve month high of $23.61.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PLGO shares. Zacks Research downgraded Fidelis Insurance from a “hold” rating to a “strong sell” rating in a report on Tuesday. Weiss Ratings started coverage on Fidelis Insurance in a report on Wednesday. They issued a “buy (b)” rating for the company. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold”.

About Fidelis Insurance

Fidelis is a leading global provider of bespoke and specialty insurance and reinsurance products. We believe our differentiated underwriting positions us well to generate strong returns across (re)insurance cycles. Current Fidelis is led by Mr. Daniel Burrows who has more than 35 years of experience in the insurance industry and is supported by a highly experienced management team that manages the operations of Current Fidelis based on our founding principles. Following the Separation Transactions, Current Fidelis is positioned as a global, specialty insurance provider with exclusive right of first access to Fidelis MGU’s underwriting business during the term of the Framework Agreement.