Sterne Agee initiated coverage on shares of Maiden Holdings (NASDAQ: MHLD) in a research note issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
The analysts wrote, “We are initiating coverage on MHLD with a Buy rating and a $13 price target. Given a number of positive drivers, we see significant earnings growth over the next two years and project ROE moving to the 12%-13% range by 2014. In addition, MHLD has lower than average earnings volatility given its focus on more predictable lower layers of coverage. With the stock trading below peer multiples, we view valuation as attractive.”
A number of other analysts have also recently weighed in on MHLD. Analysts at Compass Point initiated coverage on shares of Maiden Holdings in a research note to investors on Friday, March 15th. They set a “buy” rating and a $14.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Maiden Holdings from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, February 27th. They now have a $10.80 price target on the stock. Finally, analysts at Zacks upgraded shares of Maiden Holdings from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, January 2nd. They now have a $9.40 price target on the stock.
Maiden Holdings (NASDAQ: MHLD) opened at 10.50 on Thursday. Maiden Holdings has a 1-year low of $7.84 and a 1-year high of $10.74. The stock’s 50-day moving average is currently $10.24. The company has a market cap of $760.4 million and a price-to-earnings ratio of 16.41.
Maiden Holdings (NASDAQ: MHLD) last announced its earnings results on Wednesday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.12) by $0.02. The company had revenue of $479.20 million for the quarter, compared to the consensus estimate of $477.40 million. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts predict that Maiden Holdings will post $1.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, April 15th. Stockholders of record on Monday, April 1st will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Wednesday, March 27th.
Maiden Holdings, Ltd. (NASDAQ: MHLD) is a holding company. The Company specializes in reinsurance solutions.