$124.05 Million in Sales Expected for Renasant Corp. (RNST) This Quarter

Wall Street brokerages predict that Renasant Corp. (NASDAQ:RNST) will announce sales of $124.05 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Renasant’s earnings, with estimates ranging from $123.50 million to $124.60 million. Renasant reported sales of $106.04 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 17%. The business is expected to report its next quarterly earnings results on Tuesday, April 24th.

According to Zacks, analysts expect that Renasant will report full year sales of $124.05 million for the current fiscal year, with estimates ranging from $510.90 million to $520.80 million. For the next fiscal year, analysts expect that the company will post sales of $551.20 million per share, with estimates ranging from $543.50 million to $558.90 million. Zacks’ sales averages are an average based on a survey of research firms that cover Renasant.

Renasant (NASDAQ:RNST) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The business had revenue of $125.70 million during the quarter, compared to analyst estimates of $124.55 million. Renasant had a return on equity of 8.45% and a net margin of 18.19%.

Several analysts have issued reports on RNST shares. Zacks Investment Research lowered Renasant from a “buy” rating to a “hold” rating in a research note on Saturday, October 21st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $45.00 price objective on shares of Renasant in a research note on Friday, December 22nd. BidaskClub raised Renasant from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Hovde Group set a $47.00 price objective on Renasant and gave the company a “hold” rating in a research note on Friday, January 19th. Finally, ValuEngine lowered Renasant from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Renasant presently has an average rating of “Hold” and an average price target of $45.60.

In other news, Director J Niles Mcneel sold 12,990 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $40.85, for a total transaction of $530,641.50. Following the completion of the sale, the director now owns 24,431 shares of the company’s stock, valued at $998,006.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP R Rick Hart sold 10,000 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $43.17, for a total value of $431,700.00. Following the sale, the executive vice president now directly owns 83,450 shares of the company’s stock, valued at approximately $3,602,536.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,679 shares of company stock valued at $1,362,610. Insiders own 3.86% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its stake in Renasant by 13.3% in the second quarter. Advisor Group Inc. now owns 3,168 shares of the financial services provider’s stock worth $138,000 after acquiring an additional 371 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Renasant by 5.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 192,407 shares of the financial services provider’s stock worth $8,255,000 after acquiring an additional 10,115 shares during the period. Bank of New York Mellon Corp lifted its stake in Renasant by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 304,512 shares of the financial services provider’s stock worth $13,063,000 after acquiring an additional 7,373 shares during the period. Vanguard Group Inc. lifted its stake in Renasant by 2.8% in the second quarter. Vanguard Group Inc. now owns 3,505,554 shares of the financial services provider’s stock worth $153,333,000 after acquiring an additional 95,523 shares during the period. Finally, Citigroup Inc. lifted its stake in Renasant by 315.8% in the second quarter. Citigroup Inc. now owns 6,694 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 5,084 shares during the period. 65.28% of the stock is owned by hedge funds and other institutional investors.

Shares of Renasant (RNST) traded up $0.09 on Tuesday, reaching $42.85. The company’s stock had a trading volume of 111,646 shares, compared to its average volume of 137,246. The stock has a market capitalization of $2,113.40, a price-to-earnings ratio of 21.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.91 and a current ratio of 0.93. Renasant has a 1-year low of $37.68 and a 1-year high of $45.31.

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About Renasant

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.

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$124.05 Million in Sales Expected for Renasant Corp. (RNST) This Quarter

Analysts expect Renasant Corp. (NASDAQ:RNST) to post $124.05 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Renasant’s earnings. The highest sales estimate is $124.60 million and the lowest is $123.50 million. Renasant posted sales of $106.04 million during the same quarter last year, which suggests a positive year over year growth rate of 17%. The company is expected to issue its next quarterly earnings results on Tuesday, April 24th.

According to Zacks, analysts expect that Renasant will report full-year sales of $124.05 million for the current year, with estimates ranging from $510.90 million to $520.80 million. For the next fiscal year, analysts expect that the firm will report sales of $551.20 million per share, with estimates ranging from $543.50 million to $558.90 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Renasant.

Renasant (NASDAQ:RNST) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The business had revenue of $125.70 million for the quarter, compared to analyst estimates of $124.55 million. Renasant had a return on equity of 8.45% and a net margin of 18.19%.

RNST has been the topic of several research analyst reports. Zacks Investment Research lowered Renasant from a “buy” rating to a “hold” rating in a research note on Saturday, October 21st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $45.00 price target on shares of Renasant in a research note on Friday, December 22nd. BidaskClub raised Renasant from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Hovde Group set a $47.00 price target on Renasant and gave the stock a “hold” rating in a research note on Friday, January 19th. Finally, ValuEngine lowered Renasant from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $45.60.

In related news, EVP R Rick Hart sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $43.17, for a total value of $431,700.00. Following the sale, the executive vice president now owns 83,450 shares of the company’s stock, valued at approximately $3,602,536.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Fred F. Sharpe bought 2,000 shares of Renasant stock in a transaction that occurred on Friday, January 19th. The stock was bought at an average cost of $43.80 per share, for a total transaction of $87,600.00. Following the purchase, the director now owns 11,666 shares in the company, valued at approximately $510,970.80. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 32,679 shares of company stock worth $1,362,610. 3.86% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Renasant by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,505,554 shares of the financial services provider’s stock valued at $153,333,000 after buying an additional 95,523 shares in the last quarter. BlackRock Inc. lifted its stake in Renasant by 5.7% in the 4th quarter. BlackRock Inc. now owns 3,025,099 shares of the financial services provider’s stock valued at $123,696,000 after buying an additional 162,700 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Renasant by 2.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,017,641 shares of the financial services provider’s stock valued at $129,456,000 after buying an additional 82,379 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Renasant by 0.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,722,325 shares of the financial services provider’s stock valued at $70,425,000 after buying an additional 13,157 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Renasant by 13.0% in the 4th quarter. Wells Fargo & Company MN now owns 1,607,332 shares of the financial services provider’s stock valued at $65,723,000 after buying an additional 184,315 shares in the last quarter. 65.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Renasant (NASDAQ RNST) traded up $0.09 during trading hours on Tuesday, hitting $42.85. The stock had a trading volume of 111,646 shares, compared to its average volume of 137,246. The stock has a market cap of $2,113.40, a price-to-earnings ratio of 21.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.93 and a quick ratio of 0.91. Renasant has a fifty-two week low of $37.68 and a fifty-two week high of $45.31.

ILLEGAL ACTIVITY WARNING: This piece of content was first published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright laws. The legal version of this piece of content can be read at https://www.thelincolnianonline.com/2018/02/18/124-05-million-in-sales-expected-for-renasant-corp-rnst-this-quarter.html.

About Renasant

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.

Get a free copy of the Zacks research report on Renasant (RNST)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Renasant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renasant and related companies with MarketBeat.com's FREE daily email newsletter.

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