Partnerre PT Raised to $117.00 (PRE)
Analysts at RBC Capital raised their price target on shares of Partnerre (NYSE:PRE) from $110.00 to $117.00 in a research report issued to clients and investors on Thursday. RBC Capital’s target price would indicate a potential upside of 10.66% from the company’s current price.
Shares of Partnerre (NYSE:PRE) traded up 1.31% on Thursday, hitting $105.73. 422,977 shares of the company’s stock traded hands. Partnerre has a 52 week low of $85.98 and a 52 week high of $112.11. The stock’s 50-day moving average is $108.7 and its 200-day moving average is $103.. The company has a market cap of $5.268 billion and a price-to-earnings ratio of 4.91.
Partnerre (NYSE:PRE) last posted its quarterly earnings results on Monday, July 28th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts predict that Partnerre will post $11.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, August 14th.
A number of other analysts have also recently weighed in on PRE. Analysts at Nomura raised their price target on shares of Partnerre from $105.00 to $108.00 in a research note on Wednesday. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Partnerre in a research note on Tuesday. They now have a $131.00 price target on the stock. Finally, analysts at JMP Securities raised their price target on shares of Partnerre from $115.00 to $124.00 in a research note on Monday, July 21st. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $113.00.
PartnerRe Ltd. (NYSE:PRE) is the ultimate holding company for its international reinsurance group.
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