Fidelis Insurance (NYSE:PLGO) Trading 14.8% Higher on Earnings Beat

Fidelis Insurance Holdings Limited (NYSE:PLGO) rose 14.8% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $23.43 and last traded at $23.23. Approximately 268,518 shares were traded during trading, a decline of 36% from the average daily volume of 418,750 shares. The stock had previously closed at $20.24.

The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.19. The business had revenue of $612.20 million for the quarter, compared to analyst estimates of $577.19 million.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded Fidelis Insurance from a “hold” rating to a “strong sell” rating in a report on Tuesday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Fidelis Insurance Price Performance

Fidelis Insurance Company Profile

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.