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JP Morgan: Endurance Specialty Holdings Q4 Earnings Ahead Of Estimates (ENH)


JP Morgan is reporting that Endurance Specialty Holdings (NYSE: ENH) Q4 EPS results beat JP Morgan's estimates.

“Endurance Specialty (ENH: OW) reported 4Q EPS of $1.97 compared with our estimate of $1.52 and consensus of $1.50. All items in the quarter were in-line to better than expected, with only written premium trends lower than expected,” JP Morgan writes.

“From a balance sheet perspective, book value grew 1.8% sequentially (vs.-0.4%E) with approximately half of the upside from operations and the balance from share repurchase and investment performance. The company's previously announced decision to repurchase the shares and warrants of a founding shareholder for $321.5 million on January 1, 2011 is higher than our estimate of 2011 share repurchase of $200 million.”

JP Morgan reaffirmed Endurance Specialty Holdings Overweight rating and $45 Price Target.

Shares of Endurance are currently trading virtually unchanged from yesterday's close of $47.63.

Posted-In: Endurance Specialty Holdings JP MorganAnalyst Color Analyst Ratings


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