SiriusPoint (NYSE:SPNT) Posts Quarterly Earnings Results, Beats Expectations By $0.24 EPS

SiriusPoint (NYSE:SPNT – Get Free Report) released its earnings results on Thursday. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.64 by $0.24, FiscalAI reports. The company had revenue of $867.60 million during 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 Price Performance

SiriusPoint stock traded up $0.48 during mid-day trading on Thursday, reaching $26.30. The company had a trading volume of 1,089,925 shares, compared to its average volume of 749,734. SiriusPoint has a 1 year low of $19.15 and a 1 year high of $26.91. 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 has a market capitalization of $3.06 billion, a P/E ratio of 6.42 and a beta of 0.60. The stock’s 50-day simple moving average is $25.01 and its 200-day simple moving average is $23.12.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of SiriusPoint from a “buy (a-)” rating to a “buy (a)” rating in a research note on Tuesday, October 27th. Royal Bank Of Canada began coverage on shares of SiriusPoint in a research report on Tuesday, September 22nd. They issued an “outperform” rating and a $30.00 price objective for the company. One 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

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About SiriusPoint

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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.

Further Reading

Earnings History for SiriusPoint (NYSE:SPNT)

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