RenaissanceRe Holdings Downgraded to “Sector Perform” at RBC Capital (RNR)
RenaissanceRe Holdings (NYSE:RNR) was downgraded by RBC Capital from an “outperform” rating to a “sector perform” rating in a research note issued on Thursday, AnalystRatingsNetwork reports. They currently have a $100.00 price objective on the stock, down from their previous price objective of $104.00. RBC Capital’s price objective indicates a potential upside of 9.24% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of RenaissanceRe Holdings in a research note to investors on Wednesday. They now have a $95.00 price target on the stock. Separately, analysts at Barclays downgraded shares of RenaissanceRe Holdings from an “overweight” rating to an “equal weight” rating in a research note to investors on Tuesday, January 7th. They now have a $98.00 price target on the stock, down previously from $107.00. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $92.17.
Shares of RenaissanceRe Holdings (NYSE:RNR) opened at 91.54 on Thursday. RenaissanceRe Holdings has a 1-year low of $82.50 and a 1-year high of $97.53. The stock has a 50-day moving average of $91.6 and a 200-day moving average of $90.67. The company has a market cap of $4.066 billion and a P/E ratio of 9.40.
RenaissanceRe Holdings (NYSE:RNR) last released its earnings data on Wednesday, February 5th. The company reported $4.64 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.43 by $2.21. The company had revenue of $405.20 million for the quarter, compared to the consensus estimate of $357.24 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. Analysts expect that RenaissanceRe Holdings will post $9.22 EPS for the current fiscal year.
In other RenaissanceRe Holdings news, SVP Rider Fonner Todd sold 2,000 shares of RenaissanceRe Holdings stock on the open market in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $90.00, for a total transaction of $180,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
RenaissanceRe Holdings Ltd. (NYSE:RNR) is a global provider of reinsurance and insurance coverages and related services.
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