Fidelis Insurance Holdings Limited (NYSE:PLGO) Receives $26.60 Consensus Target Price from Analysts

Shares of Fidelis Insurance Holdings Limited (NYSE:PLGO) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $27.20.

A number of brokerages have issued reports on PLGO. Zacks Research upgraded shares of Fidelis Insurance from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, May 28th. 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 research report on Wednesday, July 8th. JPMorgan Chase & Co. raised their price objective on shares of Fidelis Insurance from $23.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday. Barclays lifted their price objective on Fidelis Insurance from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen upgraded Fidelis Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 16th.

Fidelis Insurance Price Performance

Shares of PLGO stock opened at $25.58 on Wednesday. Fidelis Insurance has a fifty-two week low of $14.80 and a fifty-two week high of $26.18. The stock has a market capitalization of $2.21 billion, a PE ratio of 6.84 and a beta of 0.29. The firm has a fifty day moving average price of $23.62. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37.

Fidelis Insurance (NYSE:PLGO) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.19. The business had revenue of $612.20 million during the quarter, compared to the consensus estimate of $577.19 million. Fidelis Insurance had a return on equity of 14.44% and a net margin of 15.33%. On average, sell-side analysts anticipate that Fidelis Insurance will post 3.78 earnings per share for the current year.

About Fidelis Insurance

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.