Brokers Set Expectations for GLRE FY2028 Earnings

Key Points

• DOWLING & PARTN expects Greenlight Capital Re to earn $1.40 per share in FY2028, below the current consensus estimate of $1.80.
• GLRE’s latest quarterly results missed expectations, with a loss of $0.89 per share versus the estimated loss of $0.35 and revenue of $137.46 million versus the $165.31 million consensus.
• Analyst sentiment is broadly neutral: two analysts rate the stock “Hold,” while GLRE shares recently traded at $15.40, down 2.3%.

Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Free Report) - Research analysts at DOWLING & PARTN issued their FY2028 earnings estimates for shares of Greenlight Capital Re in a note issued to investors on Friday, August 14th. DOWLING & PARTN analyst A. Mottolese forecasts that the financial services provider will post earnings of $1.40 per share for the year. The consensus estimate for Greenlight Capital Re's current full-year earnings is $1.80 per share.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last issued its earnings results on Tuesday, August 4th. The financial services provider reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.54). The business had revenue of $137.46 million for the quarter, compared to the consensus estimate of $165.31 million. Greenlight Capital Re had a net margin of 7.47% and a return on equity of 7.28%.

A number of other equities research analysts also recently commented on GLRE. Weiss Ratings downgraded Greenlight Capital Re from a "buy (b)" rating to a "hold (c+)" rating in a report on Wednesday, August 5th. Wall Street Zen cut Greenlight Capital Re from a "buy" rating to a "hold" rating in a report on Sunday, June 7th. Finally, Zacks Research upgraded Greenlight Capital Re to a "hold" rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of "Hold".

Greenlight Capital Re Stock Down 2.3%

NASDAQ:GLRE opened at $15.40 on Tuesday. Greenlight Capital Re has a 12-month low of $11.56 and a 12-month high of $19.39. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $502.66 million, a P/E ratio of 10.48 and a beta of 0.33. The stock's fifty day simple moving average is $16.31 and its 200-day simple moving average is $16.26.

Insider Activity at Greenlight Capital Re

In other Greenlight Capital Re news, Director Joseph P. Platt, Jr. sold 11,747 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $16.87, for a total transaction of $198,171.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leonard R. Goldberg purchased 6,000 shares of the company's stock in a transaction on Monday, August 10th. The stock was purchased at an average cost of $15.42 per share, for a total transaction of $92,520.00. Following the purchase, the director directly owned 36,000 shares in the company, valued at approximately $555,120. This trade represents a 20.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 34,719 shares of company stock valued at $573,162. 24.67% of the stock is owned by insiders.

Institutional Trading of Greenlight Capital Re

A number of institutional investors have recently modified their holdings of GLRE. BNP Paribas Financial Markets grew its holdings in shares of Greenlight Capital Re by 4.9% during the second quarter. BNP Paribas Financial Markets now owns 30,659 shares of the financial services provider's stock worth $441,000 after buying an additional 1,429 shares in the last quarter. Bank of America Corp DE lifted its stake in Greenlight Capital Re by 3.8% in the 2nd quarter. Bank of America Corp DE now owns 39,239 shares of the financial services provider's stock valued at $564,000 after acquiring an additional 1,451 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Greenlight Capital Re by 90.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 1,627 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Greenlight Capital Re by 3,773.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider's stock worth $30,000 after acquiring an additional 1,698 shares during the last quarter. Finally, Independent Advisor Alliance boosted its position in Greenlight Capital Re by 2.8% during the 4th quarter. Independent Advisor Alliance now owns 64,561 shares of the financial services provider's stock worth $941,000 after acquiring an additional 1,751 shares during the last quarter. 41.52% of the stock is currently owned by institutional investors.

About Greenlight Capital Re

Greenlight Capital Re Ltd. NASDAQ: GLRE is a Bermuda‐incorporated reinsurer externally managed by Greenlight Capital Re Services Ltd., a subsidiary of Greenlight Capital, Inc Since its formation in 2016 and subsequent initial public offering in 2017, the company has focused on providing customized reinsurance solutions to insurers worldwide. Greenlight Capital Re operates as an independent, publicly traded entity, leveraging the investment expertise and underwriting rigor that underpin its parent's investment platform.

The company's core business activities encompass both treaty and facultative reinsurance across a broad spectrum of property and casualty lines.

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