Third Point Reinsurance (TPRE) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

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Third Point Reinsurance (NYSE:TPRE) announced its earnings results on Tuesday. The insurance provider reported ($0.14) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.05, Fidelity Earnings reports. The company had revenue of $124.40 million for the quarter. Third Point Reinsurance had a return on equity of 5.66% and a net margin of 13.15%.

Third Point Reinsurance stock traded up $0.25 during mid-day trading on Wednesday, reaching $11.81. 52,451 shares of the company’s stock were exchanged, compared to its average volume of 695,350. The firm has a market capitalization of $1.10 billion, a P/E ratio of 4.47, a price-to-earnings-growth ratio of 3.50 and a beta of 1.15. Third Point Reinsurance has a one year low of $10.27 and a one year high of $17.10. 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 related news, major shareholder Daniel S. Loeb sold 800,000 shares of Third Point Reinsurance stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $13.15, for a total transaction of $10,520,000.00. Following the sale, the insider now directly owns 1,293,591 shares in the company, valued at $17,010,721.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.10% of the company’s stock.

A number of brokerages recently commented on TPRE. Zacks Investment Research lowered Third Point Reinsurance from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. ValuEngine upgraded Third Point Reinsurance from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $16.75.

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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.

Further Reading: Why is the ex-dividend date different from the record date?

Earnings History for Third Point Reinsurance (NYSE:TPRE)

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