Partnerre Given Average Recommendation of “Hold” by Analysts (NYSE:PRE)
Shares of Partnerre (NYSE:PRE) have earned an average rating of “Hold” from the eleven analysts that are covering the company, American Banking News.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $113.36.
A number of analysts have recently weighed in on PRE shares. Analysts at Deutsche Bank reiterated a “sell” rating on shares of Partnerre in a research note on Tuesday, August 5th. They now have a $95.00 price target on the stock, up previously from $91.00. Separately, 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. Finally, 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.
Shares of Partnerre (NYSE:PRE) opened at 108.13 on Monday. Partnerre has a 52 week low of $85.98 and a 52 week high of $112.11. The stock has a 50-day moving average of $108.4 and a 200-day moving average of $104.3. The company has a market cap of $5.373 billion and a price-to-earnings ratio of 5.04.
Partnerre (NYSE:PRE) last posted its quarterly earnings results on Monday, July 28th. The company reported $2.41 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Analysts expect that Partnerre will post $11.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Investors 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 2.49%. 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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