Analysts Expect Third Point Reinsurance Ltd (TPRE) Will Post Earnings of $0.79 Per Share

Wall Street analysts forecast that Third Point Reinsurance Ltd (NYSE:TPRE) will report earnings per share (EPS) of $0.79 for the current fiscal quarter, according to Zacks. Zero analysts have made estimates for Third Point Reinsurance’s earnings, with estimates ranging from $0.40 to $1.03. Third Point Reinsurance posted earnings per share of ($0.49) in the same quarter last year, which indicates a positive year-over-year growth rate of 261.2%. The business is expected to report its next earnings results on Thursday, May 4th.

On average, analysts expect that Third Point Reinsurance will report full year earnings of $1.93 per share for the current fiscal year, with EPS estimates ranging from $1.68 to $2.18. For the next financial year, analysts expect that the company will report earnings of $1.96 per share, with EPS estimates ranging from $1.82 to $2.16. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Third Point Reinsurance.

Third Point Reinsurance (NYSE:TPRE) last released its quarterly earnings results on Thursday, February 23rd. The insurance provider reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.07. The business earned $156.32 million during the quarter, compared to analyst estimates of $93.25 million. Third Point Reinsurance had a return on equity of 8.30% and a net margin of 15.99%.



Separately, Zacks Investment Research upgraded Third Point Reinsurance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 1st.

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Third Point Reinsurance (NYSE:TPRE) traded up 0.42% during midday trading on Tuesday, reaching $12.00. The company had a trading volume of 253,771 shares. The stock has a market capitalization of $1.27 billion, a PE ratio of 45.98 and a beta of 1.18. The company has a 50-day moving average of $12.00 and a 200-day moving average of $11.93. Third Point Reinsurance has a 12-month low of $10.98 and a 12-month high of $13.03.

In related news, major shareholder Brook Lvr L.P. Pine sold 699,942 shares of the stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $11.54, for a total transaction of $8,077,330.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 36.10% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in Third Point Reinsurance during the fourth quarter valued at about $8,499,000. Dimensional Fund Advisors LP raised its stake in Third Point Reinsurance by 460.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 509,680 shares of the insurance provider’s stock valued at $5,887,000 after buying an additional 418,767 shares during the last quarter. Renaissance Technologies LLC raised its stake in Third Point Reinsurance by 101.1% in the fourth quarter. Renaissance Technologies LLC now owns 652,462 shares of the insurance provider’s stock valued at $7,536,000 after buying an additional 327,962 shares during the last quarter. Two Sigma Investments LP raised its stake in Third Point Reinsurance by 1,796.0% in the fourth quarter. Two Sigma Investments LP now owns 191,593 shares of the insurance provider’s stock valued at $2,213,000 after buying an additional 181,488 shares during the last quarter. Finally, Citadel Advisors LLC raised its stake in Third Point Reinsurance by 383.2% in the third quarter. Citadel Advisors LLC now owns 195,112 shares of the insurance provider’s stock valued at $2,341,000 after buying an additional 154,735 shares during the last quarter. 71.48% of the stock is owned by institutional investors and hedge funds.

About Third Point Reinsurance

Third Point Reinsurance Ltd. is a holding company. Through the Company’s reinsurance subsidiaries, it provides property and casualty reinsurance coverage to insurance and reinsurance companies. The Company’s segments include Property and Casualty Reinsurance, and Corporate. The Company’s investable assets are managed by its investment manager, Third Point LLC.

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