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Increased Earnings Estimates Seen for Greenlight Reinsurance (GLRE): Can It Move Higher?
August 24, 2017

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Greenlight Reinsurance, Ltd. (GLRE - Free Report) is a specialist property and casualty reinsurance company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on GLRE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Greenlight Reinsurance could be a solid choice for investors.

Current Quarter Estimates for GLRE

In the past 30 days, one estimate has gone higher for Greenlight Reinsurance while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 51 cents a share 30 days ago, to 90 cents today, a move of 57.9%.

Current Year Estimates for GLRE

Meanwhile, Greenlight Reinsurance’s current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 35 cents per share 30 days ago to 75 cents per share today, a significant increase.

Bottom Line

The stock has also started to move higher lately, adding 5.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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