ReNew Energy Global (NASDAQ:RNW – Get Free Report) posted its quarterly earnings data on Monday. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01, FiscalAI reports. The business had revenue of $490.17 million for the quarter, compared to analysts’ expectations of $462.35 million. ReNew Energy Global had a net margin of 7.58% and a return on equity of 8.60%.
ReNew Energy Global Stock Performance
Shares of NASDAQ:RNW traded up $0.01 on Wednesday, hitting $6.91. The company had a trading volume of 154,762 shares, compared to its average volume of 1,376,870. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 19.18 and a beta of 1.22. The stock has a 50 day moving average price of $6.85 and a 200 day moving average price of $5.98. ReNew Energy Global has a 1-year low of $4.39 and a 1-year high of $7.69. The company has a current ratio of 0.43, a quick ratio of 0.40 and a debt-to-equity ratio of 3.35.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on RNW. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ReNew Energy Global in a research report on Tuesday. Roth Capital lowered ReNew Energy Global from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 26th. Finally, Zacks Research cut shares of ReNew Energy Global from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Four equities research analysts have rated the stock with a Hold rating. According to MarketBeat, ReNew Energy Global has a consensus rating of “Hold” and an average target price of $6.39.
Check Out Our Latest Research Report on ReNew Energy Global
About ReNew Energy Global
ReNew Energy Global plc (NASDAQ: RNW) is a renewable energy company focused on developing, owning, and operating clean power projects in India. Its portfolio includes utility-scale wind, solar, and hydroelectric generation, as well as hybrid renewable energy projects that combine multiple technologies to support more consistent electricity production.
The company also pursues related clean-energy opportunities, including battery storage, green hydrogen, and other decarbonization solutions.
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