PartnerRe Downgraded to “Neutral” at Zacks (PRE)
PartnerRe (NYSE:PRE) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued to investors on Friday, AnalystRatingsNetwork reports. They currently have a $106.00 target price on the stock. Zacks‘ price target would indicate a potential upside of 5.21% from the company’s current price.
PartnerRe (NYSE:PRE) traded down 0.49% on Friday, hitting $100.26. 187,468 shares of the company’s stock traded hands. PartnerRe has a 52-week low of $85.98 and a 52-week high of $105.90. The stock has a 50-day moving average of $99.52 and a 200-day moving average of $95.87. The company has a market cap of $5.258 billion and a P/E ratio of 9.52.
PartnerRe (NYSE:PRE) last posted its quarterly earnings results on Monday, February 3rd. The company reported $2.91 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.55 earnings per share. PartnerRe’s revenue was up 28.9% compared to the same quarter last year. On average, analysts predict that PartnerRe will post $9.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 28th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, February 13th.
A number of other analysts have also recently weighed in on PRE. Analysts at Deutsche Bank reiterated a “sell” rating on shares of PartnerRe in a research note on Tuesday. They now have a $88.00 price target on the stock. Separately, 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. Finally, 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $104.90.
PartnerRe Ltd. (NYSE:PRE) is the ultimate holding company for its international reinsurance group.
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