Equities analysts expect RenaissanceRe Holdings Ltd. (NYSE:RNR) to announce $3.19 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for RenaissanceRe’s earnings, with the highest EPS estimate coming in at $3.81 and the lowest estimate coming in at $2.73. RenaissanceRe posted earnings of $4.78 per share during the same quarter last year, which indicates a negative year over year growth rate of 33.3%. The business is expected to announce its next earnings report on Tuesday, July 28th.
According to Zacks, analysts expect that RenaissanceRe will report full-year earnings of $9.17 per share for the current year, with EPS estimates ranging from $6.26 to $10.37. For the next year, analysts anticipate that the business will report earnings of $14.58 per share, with EPS estimates ranging from $11.24 to $16.10. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover RenaissanceRe.
RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, May 6th. The insurance provider reported $0.76 EPS for the quarter, missing the consensus estimate of $3.87 by ($3.11). The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.03 billion. RenaissanceRe had a net margin of 9.16% and a return on equity of 6.06%. The business’s quarterly revenue was up 36.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.60 EPS.
Several equities analysts have issued reports on RNR shares. Wells Fargo & Co lifted their target price on RenaissanceRe from $190.00 to $229.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Deutsche Bank cut their target price on RenaissanceRe from $195.00 to $185.00 and set a “hold” rating on the stock in a research note on Friday, May 15th. Citigroup cut their target price on RenaissanceRe from $192.00 to $158.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 21st. Morgan Stanley lifted their target price on RenaissanceRe from $190.00 to $205.00 and gave the company an “equal weight” rating in a research note on Friday, June 5th. Finally, ValuEngine raised RenaissanceRe from a “sell” rating to a “hold” rating in a report on Monday, March 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $194.38.
Institutional investors have recently bought and sold shares of the company. Harbor Investment Advisory LLC purchased a new stake in shares of RenaissanceRe in the first quarter valued at approximately $25,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of RenaissanceRe during the first quarter worth approximately $31,000. Capital International Sarl purchased a new stake in shares of RenaissanceRe during the fourth quarter worth approximately $37,000. Point72 Hong Kong Ltd purchased a new stake in shares of RenaissanceRe during the fourth quarter worth approximately $95,000. Finally, AIA Investment Management Private Ltd purchased a new stake in shares of RenaissanceRe during the first quarter worth approximately $96,000. Institutional investors and hedge funds own 91.50% of the company’s stock.
Shares of RenaissanceRe stock traded down $3.14 during trading on Monday, hitting $171.98. 519,393 shares of the stock traded hands, compared to its average volume of 571,059. The firm has a market cap of $7.57 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 0.77 and a beta of 0.44. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.22. RenaissanceRe has a 52-week low of $113.27 and a 52-week high of $202.68. The stock’s fifty day simple moving average is $175.26 and its 200 day simple moving average is $173.86.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Friday, June 12th. RenaissanceRe’s payout ratio is presently 15.33%.
RenaissanceRe Holdings Ltd. provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.
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