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Wunderlich Raising Estimates On Maiden Holdings, Ltd. (MHLD)


Wunderlich Securities is raising earnings estimates on Maiden Holdings, Ltd. (NASDAQ: MHLD) after the company reported much better than expected earnings yesterday. It rates shares of Maiden Holdings at Buy and has a $9 price target.

In a note to its clients Wunderlich Securities writes, "Maiden Holdings (MHLD) reported better-than-expected operating EPS of $0.30 versus our estimate of $0.27. Earned premium and investment income growth were the main drivers behind the results. Total revenues increased 27% to $302.7 million from $239.0 million a year ago. Following a strong quarter, we are raising our estimates for 2010 to $1.10 from $1.05 and 2011 to $1.25 from $1.20. We believe MHLD is executing on a unique strategy as a non-catastrophic, diversified reinsurer with excellent growth prospects. In addition, the leadership of MHLD has positioned the company in favorable agreements with ACAC Holding and AmTrust Financial (AFSI-$14.25, Buy). We reiterate our Buy rating on MHLD."

Shares of Maiden Holdings are down 4 cents to $7.15 in early trade.

Posted-In: Wunderlich SecuritiesAnalyst Color Earnings News Guidance Price Target Markets Analyst Ratings


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