PartnerRe Stock Rating Reaffirmed by Deutsche Bank (PRE)
PartnerRe (NYSE:PRE)‘s stock had its “sell” rating restated by equities researchers at Deutsche Bank in a research report issued on Tuesday, Stock Ratings Network.com reports. They currently have a $88.00 price objective on the stock. Deutsche Bank’s price target suggests a potential downside of 12.78% from the stock’s previous close.
Shares of PartnerRe (NYSE:PRE) traded up 0.37% on Tuesday, hitting $101.27. 260,577 shares of the company’s stock traded hands. PartnerRe has a 1-year low of $85.77 and a 1-year high of $105.90. The stock has a 50-day moving average of $99.74 and a 200-day moving average of $95.72. The company has a market cap of $5.311 billion and a P/E ratio of 9.54.
PartnerRe (NYSE:PRE) last released its earnings data on Monday, February 3rd. The company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.41. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, analysts predict that PartnerRe will post $9.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, February 28th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Thursday, February 13th.
Several other analysts have also recently commented on the stock. Analysts at JMP Securities raised their price target on shares of PartnerRe from $105.00 to $115.00 in a research note on Friday, January 17th. Separately, analysts at Barclays raised their price target on shares of PartnerRe from $112.00 to $117.00 in a research note on Tuesday, January 7th. They now have an “overweight” rating on the stock. Finally, analysts at MKM Partners downgraded shares of PartnerRe from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 17th. They now have a $100.00 price target on the stock, down previously from $110.00. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $106.20.
PartnerRe Ltd. (NYSE:PRE) is the ultimate holding company for its international reinsurance group.
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