Greenlight Reinsurance, Ltd. (GLRE) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) posted its quarterly earnings results on Monday, July 31st. The financial services provider reported ($0.96) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.00) by $0.04, Morningstar.com reports. Greenlight Reinsurance had a return on equity of 5.96% and a net margin of 8.42%. The firm had revenue of $121.48 million for the quarter, compared to the consensus estimate of $139.90 million.

Greenlight Reinsurance (NASDAQ:GLRE) traded down 0.45% during mid-day trading on Friday, reaching $22.20. The company’s stock had a trading volume of 151,596 shares. The firm has a market capitalization of $828.97 million, a P/E ratio of 15.91 and a beta of 0.77. Greenlight Reinsurance has a 52 week low of $19.25 and a 52 week high of $24.10. The firm’s 50 day moving average price is $21.73 and its 200 day moving average price is $21.54.

ILLEGAL ACTIVITY NOTICE: “Greenlight Reinsurance, Ltd. (GLRE) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS” was originally published by BNB Daily and is owned by of BNB Daily. If you are reading this story on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The legal version of this story can be read at https://www.baseball-news-blog.com/2017/08/19/greenlight-reinsurance-ltd-glre-releases-quarterly-earnings-results-beats-estimates-by-0-04-eps-updated-updated.html.

A number of analysts recently weighed in on the company. TheStreet downgraded Greenlight Reinsurance from a “b-” rating to a “c+” rating in a research note on Tuesday, May 9th. ValuEngine upgraded Greenlight Reinsurance from a “hold” rating to a “buy” rating in a research report on Friday, July 7th. BidaskClub upgraded Greenlight Reinsurance from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded Greenlight Reinsurance from a “hold” rating to a “strong sell” rating in a research report on Monday, June 5th.

In other news, Director Leonard R. Goldberg sold 1,754 shares of Greenlight Reinsurance stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $22.76, for a total transaction of $39,921.04. Following the transaction, the director now directly owns 170,021 shares in the company, valued at approximately $3,869,677.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Leonard R. Goldberg sold 1,659 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $22.75, for a total value of $37,742.25. Following the sale, the director now directly owns 170,021 shares of the company’s stock, valued at $3,867,977.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,066 shares of company stock worth $181,317. 21.81% of the stock is owned by insiders.

Greenlight Reinsurance Company Profile

Greenlight Capital Re, Ltd. is a holding company. The Company analyzes its underwriting operations using two categories: frequency business, which is characterized as contracts containing a number of small losses emanating from multiple events, and severity business, which is characterized as contracts with the potential for significant losses emanating from one event or multiple events.

Earnings History for Greenlight Reinsurance (NASDAQ:GLRE)

Receive News & Ratings for Greenlight Reinsurance Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Greenlight Reinsurance Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply