Fidelis Insurance (NYSE:PLGO) Reaches New 12-Month High - Should You Buy?

Key Points

• Fidelis Insurance reached a new 52-week high, trading as high as $26.34 and recently changing hands around $26.27, up from a prior close of $25.93.
• Analyst sentiment is broadly positive: the stock has a consensus “Moderate Buy” rating and an average price target of $27.20, although JPMorgan maintained an “underweight” rating.
• Fidelis exceeded quarterly expectations, reporting $0.94 EPS versus a $0.75 estimate and $612.2 million in revenue versus $577.19 million expected; analysts forecast $3.80 in full-year EPS.

Fidelis Insurance Holdings Limited (NYSE:PLGO - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $26.34 and last traded at $26.2670, with a volume of 11973 shares. The stock had previously closed at $25.93.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PLGO shares. Weiss Ratings began coverage on Fidelis Insurance in a research note on Wednesday, May 13th. They set a "buy (b)" rating for the company. Zacks Research raised shares of Fidelis Insurance from a "strong sell" rating to a "strong-buy" rating in a report on Thursday, May 28th. Wall Street Zen upgraded shares of Fidelis Insurance from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. JPMorgan Chase & Co. increased their price objective on shares of Fidelis Insurance from $23.00 to $26.00 and gave the stock an "underweight" rating in a report on Monday, July 20th. Finally, Citizens Jmp lifted their price objective on shares of Fidelis Insurance from $27.00 to $28.00 and gave the company a "market outperform" rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $27.20.

Fidelis Insurance Trading Up 0.5%

The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $2.25 billion, a PE ratio of 6.96 and a beta of 0.29. The business's 50-day moving average is $23.78.

Fidelis Insurance (NYSE:PLGO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $577.19 million. Equities research analysts predict that Fidelis Insurance Holdings Limited will post 3.8 EPS 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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