Earnings Estimates Moving Higher for Fidelis Insurance (FIHL): Time to Buy?

Fidelis Insurance Holdings (FIHL) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.Analysts' growing optimism on the earnings prospects of this insurance and reinsurance company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- has this insight at its core.The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.Consensus earnings estimates for the next quarter and full year have moved considerably higher for Fidelis Insurance, as there has been strong agreement among the covering analysts in raising estimates.Current-Quarter Estimate RevisionsThe earnings estimate of $0.96 per share for the current quarter represents a change of -16.52% from the number reported a year ago.Over the last 30 days, the Zacks Consensus Estimate for Fidelis Insurance has increased 5.52% because one estimate has moved higher while one has gone lower.Current-Year Estimate RevisionsThe company is expected to earn $3.15 per share for the full year, which represents a change of -9.74% from the prior-year number.There has been an encouraging trend in estimate revisions for the current year as well. Over the past month, two estimates have moved up for Fidelis Insurance versus no negative revisions. This has pushed the consensus estimate 8.26% higher.Favorable Zacks RankThe promising estimate revisions have helped Fidelis Insurance earn a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.Bottom LineWhile strong estimate revisions for Fidelis Insurance have attracted decent investments and pushed the stock 10.8% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fidelis Insurance Holdings Limited (FIHL): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks