Fidelis Insurance Holdings Limited (NYSE:PLGO) Given Consensus Recommendation of “Hold” by Brokerages

Fidelis Insurance Holdings Limited (NYSE:PLGO) has earned an average rating of “Hold” from the five research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $24.3333.

PLGO has been the subject of a number of analyst reports. Barclays upped their price objective on Fidelis Insurance from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, May 15th. Weiss Ratings initiated coverage on Fidelis Insurance in a report on Wednesday, May 13th. They set a “buy (b)” rating on the stock. Keefe, Bruyette & Woods increased their price target on Fidelis Insurance from $26.50 to $28.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Wall Street Zen raised Fidelis Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Zacks Research cut shares of Fidelis Insurance from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th.

Fidelis Insurance Price Performance

Shares of NYSE PLGO traded down $0.03 during mid-day trading on Tuesday, hitting $22.76. The company had a trading volume of 450,159 shares, compared to its average volume of 434,190. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 6.09 and a beta of 0.36. Fidelis Insurance has a one year low of $14.80 and a one year high of $24.06.

Fidelis Insurance (NYSE:PLGO) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.75 by $0.19. The firm had revenue of $612.20 million during the quarter, compared to analysts’ expectations of $577.19 million. Fidelis Insurance had a return on equity of 14.44% and a net margin of 15.33%. As a group, sell-side analysts predict that Fidelis Insurance will post 3.19 earnings per share for the current fiscal year.

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.