Q3 2018 EPS Estimates for Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Reduced by Langen Mcalenn

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Greenlight Capital Re, Ltd. (NASDAQ:GLRE) – Langen Mcalenn cut their Q3 2018 EPS estimates for shares of Greenlight Capital Re in a report released on Monday, September 17th, according to Zacks Investment Research. Langen Mcalenn analyst R. Glasspiegel now anticipates that the financial services provider will post earnings per share of ($1.92) for the quarter, down from their previous forecast of $0.04. Langen Mcalenn also issued estimates for Greenlight Capital Re’s FY2018 earnings at ($6.44) EPS.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings results on Tuesday, July 31st. The financial services provider reported ($1.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.04. The business had revenue of $88.08 million during the quarter, compared to analyst estimates of $103.40 million. Greenlight Capital Re had a negative return on equity of 25.61% and a negative net margin of 44.10%.

A number of other research firms have also issued reports on GLRE. BidaskClub upgraded Greenlight Capital Re from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. ValuEngine upgraded Greenlight Capital Re from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, Zacks Investment Research lowered Greenlight Capital Re from a “buy” rating to a “strong sell” rating in a research report on Thursday, July 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $20.50.

Shares of GLRE stock traded down $0.69 during trading hours on Thursday, reaching $12.31. The company had a trading volume of 362,579 shares, compared to its average volume of 283,321. The firm has a market capitalization of $465.46 million, a PE ratio of -10.17 and a beta of 0.82. Greenlight Capital Re has a 12-month low of $11.25 and a 12-month high of $23.00.

A number of institutional investors have recently modified their holdings of GLRE. SG Americas Securities LLC purchased a new position in shares of Greenlight Capital Re during the first quarter worth $102,000. Barclays PLC boosted its position in shares of Greenlight Capital Re by 125.4% during the first quarter. Barclays PLC now owns 10,842 shares of the financial services provider’s stock worth $173,000 after buying an additional 6,032 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Greenlight Capital Re by 83.5% during the first quarter. JPMorgan Chase & Co. now owns 11,921 shares of the financial services provider’s stock worth $191,000 after buying an additional 5,423 shares during the period. Legal & General Group Plc boosted its position in shares of Greenlight Capital Re by 58.7% during the first quarter. Legal & General Group Plc now owns 15,918 shares of the financial services provider’s stock worth $255,000 after buying an additional 5,885 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of Greenlight Capital Re during the first quarter worth $282,000. Institutional investors own 43.26% 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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