Morgan Stanley Initiates Coverage on Watford (NASDAQ:WTRE)

Morgan Stanley began coverage on shares of Watford (NASDAQ:WTRE) in a research report sent to investors on Wednesday, Briefing.com Automated Import reports. The firm issued an equal weight rating and a $28.00 price target on the stock.

Separately, Zacks Investment Research upgraded Watford from a strong sell rating to a strong-buy rating and set a $33.00 price target on the stock in a report on Sunday, November 3rd. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $29.67.

NASDAQ WTRE opened at $25.20 on Wednesday. The business’s 50 day moving average is $27.05 and its two-hundred day moving average is $25.67. Watford has a 12-month low of $18.75 and a 12-month high of $28.99.

Watford (NASDAQ:WTRE) last released its earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.39). The business had revenue of $140.45 million during the quarter. As a group, equities research analysts forecast that Watford will post 3.54 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WTRE. Strs Ohio acquired a new stake in shares of Watford in the 2nd quarter worth approximately $148,000. BNP Paribas Arbitrage SA acquired a new stake in shares of Watford in the 2nd quarter worth approximately $27,000. Wells Fargo & Company MN acquired a new stake in shares of Watford in the 2nd quarter worth approximately $321,000. JPMorgan Chase & Co. grew its holdings in shares of Watford by 762.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 474,114 shares of the company’s stock worth $12,976,000 after acquiring an additional 419,114 shares during the period. Finally, Bank of Montreal Can acquired a new stake in shares of Watford in the 2nd quarter worth approximately $46,000. Institutional investors and hedge funds own 12.42% of the company’s stock.

About Watford

Watford Holdings Ltd., together with its subsidiaries, operates as a property, casualty, and mortgage insurance and reinsurance company worldwide. The company was founded in 2013 and is headquartered in Pembroke, Bermuda.

See Also: What is Liquidity?

Analyst Recommendations for Watford (NASDAQ:WTRE)

Receive News & Ratings for Watford Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watford and related companies with MarketBeat.com's FREE daily email newsletter.