Fidelis Insurance (NYSE:PLGO) Hits New 52-Week High - Should You Buy?

Key Points

• Fidelis Insurance hit a new 52-week high, trading as high as $26.02 and last around $25.84, reflecting continued investor momentum in the stock.
• Analyst sentiment is generally constructive, with a consensus rating of "Moderate Buy" and an average price target of $26.60, while several firms recently raised their targets.
• The company’s latest earnings beat expectations, reporting $0.94 EPS versus the $0.75 estimate and revenue of $612.2 million, both above forecasts.

Fidelis Insurance Holdings Limited (NYSE:PLGO - Get Free Report)'s stock price hit a new 52-week high on Friday . The stock traded as high as $26.02 and last traded at $25.8440, with a volume of 29842 shares changing hands. The stock had previously closed at $25.44.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings began coverage on Fidelis Insurance in a research report on Wednesday, May 13th. They issued a "buy (b)" rating for the company. Barclays increased their price objective on shares of Fidelis Insurance from $22.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their target price on shares of Fidelis Insurance from $21.00 to $23.00 and gave the stock an "underweight" rating in a report on Tuesday, May 26th. Citizens Jmp upped their target price on shares of Fidelis Insurance from $27.00 to $28.00 and gave the stock a "market outperform" rating in a research note on Friday, July 10th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company an "outperform" rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.60.

Fidelis Insurance Stock Up 1.2%

The firm has a market capitalization of $2.22 billion, a PE ratio of 6.89 and a beta of 0.29. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The firm's fifty day simple moving average is $23.50.

Fidelis Insurance (NYSE:PLGO - Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.75 by $0.19. Fidelis Insurance had a return on equity of 14.44% and a net margin of 15.33%.The company had revenue of $612.20 million during the quarter, compared to the consensus estimate of $577.19 million. On average, equities analysts expect that Fidelis Insurance Holdings Limited will post 3.78 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.

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