Fidelis Insurance (NYSE:PLGO) Posts Quarterly Earnings Results, Beats Estimates By $0.19 EPS

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

Fidelis Insurance Stock Down 1.3%

PLGO traded down $0.31 on Friday, hitting $23.15. 538,994 shares of the company’s stock traded hands, compared to its average volume of 429,412. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35. Fidelis Insurance has a one year low of $14.80 and a one year high of $23.61. The company has a market capitalization of $2.00 billion, a PE ratio of 6.19 and a beta of 0.36.

Analysts Set New Price Targets

Several research analysts have weighed in on PLGO shares. Zacks Research downgraded shares of Fidelis Insurance from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Keefe, Bruyette & Woods upped their price objective on Fidelis Insurance from $26.50 to $28.00 and gave the stock an “outperform” rating in a research note on Friday. Weiss Ratings assumed coverage on Fidelis Insurance in a research report on Wednesday. They set a “buy (b)” rating on the stock. Finally, Barclays boosted their price target on Fidelis Insurance from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.00.

About Fidelis Insurance

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.