SiriusPoint (NYSE:SPNT) Issues Earnings Results

SiriusPoint (NYSE:SPNT) released its quarterly earnings data on Thursday. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.24, FiscalAI reports. The company had revenue of $867.60 million for the quarter, compared to analysts’ expectations of $740.99 million. SiriusPoint had a net margin of 15.56% and a return on equity of 15.65%.

SiriusPoint Stock Performance

Shares of SPNT stock traded up $0.48 during midday trading on Thursday, hitting $26.30. The company had a trading volume of 1,089,925 shares, compared to its average volume of 749,734. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 6.42 and a beta of 0.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.58 and a quick ratio of 0.58. The company’s 50 day simple moving average is $25.01 and its 200 day simple moving average is $23.12. SiriusPoint has a 52-week low of $19.15 and a 52-week high of $26.91.

Analysts Set New Price Targets

A number of research analysts recently commented on SPNT shares. Weiss Ratings raised shares of SiriusPoint from a “buy (a-)” rating to a “buy (a)” rating in a research report on Tuesday, October 27th. Royal Bank Of Canada initiated coverage on shares of SiriusPoint in a research note on Tuesday, September 22nd. They set an “outperform” rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, SiriusPoint presently has an average rating of “Moderate Buy” and an average price target of $30.50.

SiriusPoint Company Profile

SiriusPoint Ltd. (NYSE: SPNT) is a global specialty insurance and reinsurance company headquartered in Bermuda. The company provides underwriting solutions to businesses, insurers and other organizations through a combination of insurance and reinsurance operations.

Its offerings include property and casualty coverage, specialty insurance, accident and health products, and reinsurance. SiriusPoint serves clients through underwriting platforms and subsidiaries in key insurance markets, including Bermuda, the United States, the United Kingdom and other international jurisdictions.