$3.59 EPS Expected for RenaissanceRe Holdings Ltd. (NYSE:RNR) This Quarter


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Wall Street brokerages expect that RenaissanceRe Holdings Ltd. (NYSE:RNR) will post $3.59 earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for RenaissanceRe’s earnings. The highest EPS estimate is $4.27 and the lowest is $2.40. RenaissanceRe posted earnings of $0.76 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 372.4%. The firm is expected to issue its next earnings results after the market closes on Wednesday, April 28th.

On average, analysts expect that RenaissanceRe will report full year earnings of $13.85 per share for the current financial year, with EPS estimates ranging from $12.00 to $15.18. For the next financial year, analysts expect that the business will report earnings of $16.72 per share, with EPS estimates ranging from $14.68 to $17.95. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover RenaissanceRe.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Monday, January 25th. The insurance provider reported ($1.59) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.15) by $0.56. RenaissanceRe had a return on equity of 2.44% and a net margin of 12.46%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $858.74 million. During the same quarter in the previous year, the business earned $0.77 earnings per share.

Several analysts have recently issued reports on the company. TheStreet upgraded RenaissanceRe from a “c+” rating to a “b-” rating in a research report on Wednesday, January 27th. Zacks Investment Research upgraded RenaissanceRe from a “sell” rating to a “hold” rating and set a $180.00 target price on the stock in a research report on Wednesday, March 17th. The Goldman Sachs Group upgraded RenaissanceRe from a “neutral” rating to a “buy” rating and upped their price target for the stock from $194.00 to $199.00 in a research note on Friday, January 8th. Morgan Stanley increased their target price on RenaissanceRe from $194.00 to $195.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 30th. Finally, Wells Fargo & Company lowered their target price on RenaissanceRe from $229.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday, January 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $185.71.

NYSE:RNR opened at $168.00 on Thursday. The stock’s 50 day simple moving average is $163.74 and its 200-day simple moving average is $165.69. RenaissanceRe has a 12-month low of $137.90 and a 12-month high of $201.29. The firm has a market cap of $8.36 billion, a P/E ratio of 13.49, a PEG ratio of 0.51 and a beta of 0.45. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.17.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th were given a dividend of $0.36 per share. The ex-dividend date was Friday, March 12th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 0.86%. RenaissanceRe’s dividend payout ratio (DPR) is 15.77%.

Several hedge funds have recently modified their holdings of RNR. Veriti Management LLC acquired a new position in shares of RenaissanceRe during the 4th quarter valued at $27,000. Perigon Wealth Management LLC acquired a new position in shares of RenaissanceRe in the 4th quarter worth $28,000. Fox Run Management L.L.C. acquired a new position in shares of RenaissanceRe in the 4th quarter worth $214,000. Ontario Teachers Pension Plan Board acquired a new position in shares of RenaissanceRe in the 4th quarter worth $228,000. Finally, IBM Retirement Fund grew its holdings in shares of RenaissanceRe by 15.0% in the 4th quarter. IBM Retirement Fund now owns 1,882 shares of the insurance provider’s stock worth $312,000 after acquiring an additional 246 shares during the last quarter. Institutional investors own 93.16% of the company’s stock.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, and other windstorms, as well as claims arising from other natural and man-made catastrophes comprising tsunamis, winter storms, freezes, floods, fires, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.

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