SiriusPoint (NYSE:SPNT) Posts Earnings Results, Beats Expectations By $0.24 EPS

SiriusPoint (NYSE:SPNT) announced its earnings results on Thursday. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.24, FiscalAI reports. The company had revenue of $867.60 million during the quarter, compared to analyst estimates of $740.99 million. SiriusPoint had a return on equity of 15.65% and a net margin of 15.56%.

SiriusPoint Trading Up 1.9%

Shares of SPNT traded up $0.48 on Thursday, reaching $26.30. 1,089,925 shares of the company’s stock were exchanged, compared to its average volume of 749,734. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $3.06 billion, a P/E ratio of 6.42 and a beta of 0.60. The business has a 50 day moving average price of $25.01 and a two-hundred day moving average price of $23.12. SiriusPoint has a 12 month low of $19.15 and a 12 month high of $26.91.

Analysts Set New Price Targets

SPNT has been the subject of a number of recent research reports. Royal Bank Of Canada initiated coverage on SiriusPoint in a research report on Tuesday, September 22nd. They set an “outperform” rating and a $30.00 target price for the company. Weiss Ratings upgraded SiriusPoint from a “buy (a-)” rating to a “buy (a)” rating in a report on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.50.

About SiriusPoint

SiriusPoint Ltd. (NYSE: SPNT) is a global specialty insurance and reinsurance company headquartered in Bermuda. The company provides underwriting solutions to businesses, insurers and other organizations through a combination of insurance and reinsurance operations.

Its offerings include property and casualty coverage, specialty insurance, accident and health products, and reinsurance. SiriusPoint serves clients through underwriting platforms and subsidiaries in key insurance markets, including Bermuda, the United States, the United Kingdom and other international jurisdictions.