Partnerre’s “Sell” Rating Reaffirmed at Deutsche Bank (PRE)
Partnerre (NYSE:PRE)‘s stock had its “sell” rating reiterated by stock analysts at Deutsche Bank in a report issued on Tuesday. They currently have a $95.00 price target on the stock, up from their previous price target of $91.00. Deutsche Bank’s price objective would indicate a potential downside of 10.28% from the company’s current price.
PRE has been the subject of a number of other recent research reports. Analysts at RBC Capital raised their price target on shares of Partnerre from $110.00 to $117.00 in a research note on Thursday, July 31st. Separately, analysts at Nomura raised their price target on shares of Partnerre from $105.00 to $108.00 in a research note on Wednesday, July 30th. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Partnerre in a research note on Tuesday, July 29th. They now have a $131.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $113.36.
Partnerre (NYSE:PRE) traded down 0.61% on Tuesday, hitting $105.24. 397,684 shares of the company’s stock traded hands. Partnerre has a one year low of $85.98 and a one year high of $112.11. The stock has a 50-day moving average of $108.6 and a 200-day moving average of $104.0. The company has a market cap of $5.243 billion and a P/E ratio of 4.98.
Partnerre (NYSE:PRE) last issued its quarterly earnings data 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 $11.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Stockholders of record on Monday, August 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 2.53%. The ex-dividend date of this dividend is Thursday, August 14th.
PartnerRe Ltd. (NYSE:PRE) is the ultimate holding company for its international reinsurance group.
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