Greenlight Capital Re, Ltd. (NASDAQ:GLRE) – Investment analysts at Langen Mcalenn decreased their FY2018 earnings estimates for Greenlight Capital Re in a report issued on Tuesday, December 4th. Langen Mcalenn analyst R. Glasspiegel now forecasts that the financial services provider will post earnings of ($7.87) per share for the year, down from their previous estimate of ($7.30). Langen Mcalenn also issued estimates for Greenlight Capital Re’s Q4 2018 earnings at ($0.37) EPS.

Several other research analysts have also recently weighed in on GLRE. BidaskClub upgraded shares of Greenlight Capital Re from a “sell” rating to a “hold” rating in a report on Saturday, October 13th. ValuEngine cut shares of Greenlight Capital Re from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Two research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. Greenlight Capital Re presently has an average rating of “Hold” and an average target price of $20.50.

NASDAQ:GLRE opened at $10.19 on Thursday. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.36. The stock has a market cap of $366.03 million, a PE ratio of -8.42 and a beta of 0.69. Greenlight Capital Re has a one year low of $9.76 and a one year high of $21.45.

Greenlight Capital Re (NASDAQ:GLRE) last posted its earnings results on Monday, November 5th. The financial services provider reported ($2.20) EPS for the quarter, topping the consensus estimate of ($2.54) by $0.34. The company had revenue of $42.57 million during the quarter, compared to the consensus estimate of $68.40 million. Greenlight Capital Re had a negative net margin of 125.14% and a negative return on equity of 44.40%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP boosted its stake in Greenlight Capital Re by 18.0% in the second quarter. First Trust Advisors LP now owns 33,325 shares of the financial services provider’s stock valued at $473,000 after acquiring an additional 5,078 shares during the last quarter. Bank of America Corp DE boosted its stake in Greenlight Capital Re by 351.2% in the second quarter. Bank of America Corp DE now owns 214,274 shares of the financial services provider’s stock valued at $3,043,000 after acquiring an additional 166,783 shares during the last quarter. Monarch Partners Asset Management LLC boosted its stake in Greenlight Capital Re by 20.0% in the third quarter. Monarch Partners Asset Management LLC now owns 40,580 shares of the financial services provider’s stock valued at $503,000 after acquiring an additional 6,770 shares during the last quarter. BlackRock Inc. boosted its stake in Greenlight Capital Re by 26.6% in the second quarter. BlackRock Inc. now owns 2,513,604 shares of the financial services provider’s stock valued at $35,693,000 after acquiring an additional 527,963 shares during the last quarter. Finally, Investec Asset Management LTD purchased a new position in Greenlight Capital Re in the second quarter valued at about $1,025,000. Hedge funds and other institutional investors own 50.22% of the company’s stock.

About Greenlight Capital Re

Greenlight Capital Re, Ltd., through its subsidiaries, engages in the provision of property and casualty reinsurance products and services worldwide. Its frequency business comprises contracts containing small losses emanating from multiple events and enables the clients to increase their underwriting capacity; and severity business includes contracts with the potential for significant losses emanating from one event or various events.

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Earnings History and Estimates for Greenlight Capital Re (NASDAQ:GLRE)

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