FY2017 EPS Estimates for Greenlight Capital Re, Ltd. (GLRE) Lifted by Langen Mcalenn

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) – Stock analysts at Langen Mcalenn upped their FY2017 earnings estimates for shares of Greenlight Capital Re in a research report issued to clients and investors on Tuesday. Langen Mcalenn analyst R. Glasspiegel now forecasts that the financial services provider will earn ($0.75) per share for the year, up from their previous estimate of ($0.95). Langen Mcalenn also issued estimates for Greenlight Capital Re’s Q4 2017 earnings at ($0.55) EPS and FY2018 earnings at $2.57 EPS.

Several other research analysts also recently issued reports on GLRE. BidaskClub raised shares of Greenlight Capital Re from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research downgraded shares of Greenlight Capital Re from a “hold” rating to a “strong sell” rating in a research report on Wednesday. TheStreet raised shares of Greenlight Capital Re from a “c” rating to a “b-” rating in a research report on Wednesday, November 1st. Finally, ValuEngine downgraded shares of Greenlight Capital Re from a “hold” rating to a “sell” rating in a research report on Saturday, December 9th.

Greenlight Capital Re (NASDAQ GLRE) opened at $21.25 on Thursday. The company has a market cap of $793.66, a price-to-earnings ratio of 19.86 and a beta of 0.77. Greenlight Capital Re has a 52-week low of $19.70 and a 52-week high of $24.00.

Greenlight Capital Re (NASDAQ:GLRE) last posted its earnings results on Monday, October 30th. The financial services provider reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.26). The company had revenue of $236.15 million during the quarter, compared to analysts’ expectations of $200.80 million. Greenlight Capital Re had a net margin of 5.91% and a return on equity of 4.74%.

A number of institutional investors have recently modified their holdings of GLRE. Schwab Charles Investment Management Inc. grew its position in Greenlight Capital Re by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 117,135 shares of the financial services provider’s stock worth $2,449,000 after purchasing an additional 665 shares during the last quarter. Rhumbline Advisers grew its position in Greenlight Capital Re by 3.3% during the 2nd quarter. Rhumbline Advisers now owns 35,787 shares of the financial services provider’s stock worth $748,000 after purchasing an additional 1,133 shares during the last quarter. SG Americas Securities LLC purchased a new position in Greenlight Capital Re during the 2nd quarter worth $113,000. Wells Fargo & Company MN grew its position in Greenlight Capital Re by 4.2% during the 2nd quarter. Wells Fargo & Company MN now owns 95,480 shares of the financial services provider’s stock worth $1,994,000 after purchasing an additional 3,858 shares during the last quarter. Finally, Systematic Financial Management LP purchased a new position in Greenlight Capital Re during the 2nd quarter worth $1,434,000. 46.96% of the stock is currently owned by institutional investors.

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Greenlight Capital Re 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.

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