Media headlines about Third Point Reinsurance (NYSE:TPRE) have been trending somewhat positive this week, Accern Sentiment Analysis reports. The research group identifies positive and negative news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Third Point Reinsurance earned a coverage optimism score of 0.07 on Accern’s scale. Accern also assigned news articles about the insurance provider an impact score of 46.5494548953652 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Third Point Reinsurance traded down $0.05, hitting $13.45, during midday trading on Friday, according to MarketBeat.com. 2,298,477 shares of the company were exchanged, compared to its average volume of 557,049. The company has a market capitalization of $1.38 billion, a PE ratio of 5.11, a PEG ratio of 0.75 and a beta of 1.10. Third Point Reinsurance has a 1-year low of $12.75 and a 1-year high of $17.10. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.07.
Third Point Reinsurance (NYSE:TPRE) last announced its earnings results on Wednesday, May 9th. The insurance provider reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.04). The company had revenue of $140.28 million for the quarter, compared to analyst estimates of $155.43 million. Third Point Reinsurance had a return on equity of 9.08% and a net margin of 18.16%. equities research analysts predict that Third Point Reinsurance will post 1.21 EPS for the current fiscal year.
Third Point Reinsurance declared that its Board of Directors has approved a stock buyback program on Wednesday, February 28th that authorizes the company to buyback $148.30 million in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
A number of equities research analysts recently weighed in on TPRE shares. Zacks Investment Research lowered Third Point Reinsurance from a “hold” rating to a “sell” rating in a research report on Tuesday, March 6th. ValuEngine lowered Third Point Reinsurance from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 2nd. Keefe, Bruyette & Woods upgraded Third Point Reinsurance from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 10th. TheStreet lowered Third Point Reinsurance from a “b-” rating to a “c” rating in a research report on Wednesday, May 9th. Finally, Bank of America reduced their price objective on Third Point Reinsurance from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, April 3rd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $17.25.
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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