Blue Capital Reinsurance (BCRH) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Blue Capital Reinsurance (NYSE:BCRH) from a strong sell rating to a hold rating in a research report report published on Tuesday.
According to Zacks, “Blue Capital Holdings Ltd. is a reinsurance holding company. It offers collateralized reinsurance in the property catastrophe market. Blue Capital Holdings Ltd. is based in Bermuda. “
Several other research firms have also weighed in on BCRH. ValuEngine raised Blue Capital Reinsurance from a hold rating to a buy rating in a research report on Monday, October 2nd. Raymond James Financial reissued an underperform rating on shares of Blue Capital Reinsurance in a research report on Friday, October 13th. Deutsche Bank lowered Blue Capital Reinsurance from a buy rating to a hold rating and lowered their price objective for the stock from $21.00 to $18.00 in a research report on Monday, October 16th. TheStreet lowered Blue Capital Reinsurance from a c+ rating to a d+ rating in a research report on Thursday, November 30th. Finally, Jefferies Group lowered Blue Capital Reinsurance to a hold rating in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company has a consensus rating of Hold and an average price target of $18.00.
Blue Capital Reinsurance (NYSE:BCRH) last posted its quarterly earnings data on Monday, October 30th. The insurance provider reported ($5.93) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($5.89) by ($0.04). Blue Capital Reinsurance had a negative return on equity of 23.35% and a negative net margin of 77.93%. The business had revenue of $19.10 million during the quarter, compared to the consensus estimate of $12.31 million. During the same period last year, the business posted $0.38 earnings per share. The business’s revenue was up 92.9% on a year-over-year basis. analysts predict that Blue Capital Reinsurance will post -4.4 EPS for the current year.
Hedge funds have recently bought and sold shares of the company. US Bancorp DE raised its position in shares of Blue Capital Reinsurance by 393.3% in the 2nd quarter. US Bancorp DE now owns 7,400 shares of the insurance provider’s stock worth $135,000 after acquiring an additional 5,900 shares in the last quarter. Teachers Advisors LLC increased its position in Blue Capital Reinsurance by 3.4% in the 2nd quarter. Teachers Advisors LLC now owns 11,514 shares of the insurance provider’s stock valued at $211,000 after buying an additional 376 shares in the last quarter. Royal Bank of Canada increased its position in Blue Capital Reinsurance by 1.5% in the 2nd quarter. Royal Bank of Canada now owns 14,697 shares of the insurance provider’s stock valued at $269,000 after buying an additional 217 shares in the last quarter. Macquarie Group Ltd. bought a new stake in Blue Capital Reinsurance in the 3rd quarter valued at about $276,000. Finally, Bessemer Group Inc. increased its position in Blue Capital Reinsurance by 0.5% in the 2nd quarter. Bessemer Group Inc. now owns 18,500 shares of the insurance provider’s stock valued at $339,000 after buying an additional 100 shares in the last quarter. 43.53% of the stock is owned by hedge funds and other institutional investors.
Blue Capital Reinsurance Company Profile
Blue Capital Reinsurance Holdings Ltd. provides collateralized reinsurance in the property catastrophe market and invests in various insurance-linked securities. The Company conducts its operations through its subsidiaries, including Blue Capital Re Ltd. (Blue Capital Re), which provides collateralized reinsurance, and Blue Capital Re ILS Ltd.
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