Fidelis Insurance (NYSE:PLGO) Issues Earnings Results

Fidelis Insurance (NYSE:PLGO) issued its quarterly earnings data on Wednesday. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.19, Zacks reports. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.25%. The firm had revenue of $612.20 million for the quarter, compared to analyst estimates of $577.19 million.

Fidelis Insurance Price Performance

PLGO traded up $3.09 on Thursday, hitting $23.33. 1,047,850 shares of the company’s stock were exchanged, compared to its average volume of 376,434. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 6.02 and a beta of 0.36. Fidelis Insurance has a twelve month low of $14.80 and a twelve month high of $23.61. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.35.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings started coverage on shares of Fidelis Insurance in a report on Wednesday. They issued a “buy (b)” rating on the stock. Zacks Research downgraded Fidelis Insurance from a “hold” rating to a “strong sell” rating in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold”.

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.