RenaissanceRe Holdings Ltd. (NYSE:RNR) Expected to Post Earnings of $3.59 Per Share


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Analysts expect RenaissanceRe Holdings Ltd. (NYSE:RNR) to announce $3.59 earnings per share for the current quarter, according to Zacks. Zero analysts have issued estimates for RenaissanceRe’s earnings, with the highest EPS estimate coming in at $4.27 and the lowest estimate coming in at $2.40. RenaissanceRe posted earnings of $0.76 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 372.4%. The company is scheduled to issue its next earnings report after the market closes on Wednesday, April 28th.

According to Zacks, 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 fiscal year, analysts expect that the company will report earnings of $16.72 per share, with EPS estimates ranging from $14.68 to $17.95. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover RenaissanceRe.

RenaissanceRe (NYSE:RNR) last released its earnings results on Monday, January 25th. The insurance provider reported ($1.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.15) by $0.56. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $858.74 million. RenaissanceRe had a return on equity of 2.44% and a net margin of 12.46%. During the same period in the prior year, the company posted $0.77 EPS.

A number of research firms have recently weighed in on RNR. Morgan Stanley upped their target price on RenaissanceRe from $194.00 to $195.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 30th. The Goldman Sachs Group raised RenaissanceRe from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $194.00 to $199.00 in a report on Friday, January 8th. Wells Fargo & Company lowered their price target on RenaissanceRe from $229.00 to $220.00 and set an “overweight” rating for the company in a report on Thursday, January 28th. Zacks Investment Research raised RenaissanceRe from a “sell” rating to a “hold” rating and set a $180.00 target price for the company in a report on Wednesday, March 17th. Finally, JPMorgan Chase & Co. upped their target price on RenaissanceRe from $160.00 to $162.00 and gave the stock an “underweight” rating in a report on Monday, January 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. RenaissanceRe currently has an average rating of “Hold” and a consensus price target of $185.71.

NYSE:RNR opened at $168.00 on Thursday. The stock has a fifty day moving average price of $163.74 and a 200-day moving average price of $165.69. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.51 and a beta of 0.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.64 and a current ratio of 1.64. RenaissanceRe has a fifty-two week low of $137.90 and a fifty-two week high of $201.29.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Monday, March 15th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, March 12th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.35. RenaissanceRe’s payout ratio is 15.77%.

Several institutional investors have recently made changes to their positions in RNR. Veriti Management LLC bought a new stake in shares of RenaissanceRe during the 4th quarter valued at about $27,000. Perigon Wealth Management LLC bought a new position in RenaissanceRe in the fourth quarter worth approximately $28,000. Fox Run Management L.L.C. purchased a new stake in shares of RenaissanceRe in the fourth quarter worth approximately $214,000. Ontario Teachers Pension Plan Board purchased a new stake in shares of RenaissanceRe in the fourth quarter worth approximately $228,000. Finally, IBM Retirement Fund raised its stake in shares of RenaissanceRe by 15.0% in the fourth quarter. IBM Retirement Fund now owns 1,882 shares of the insurance provider’s stock worth $312,000 after purchasing an additional 246 shares during the last quarter. Institutional investors own 93.16% of the company’s stock.

About RenaissanceRe

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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