Analysts Anticipate RenaissanceRe Holdings Ltd. (NYSE:RNR) to Post $3.59 EPS


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Wall Street analysts forecast that RenaissanceRe Holdings Ltd. (NYSE:RNR) will report earnings per share of $3.59 for the current quarter, Zacks Investment Research reports. 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 per share of $0.76 in the same quarter last year, which would indicate a positive year over year growth rate of 372.4%. The firm is expected to report 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 fiscal year, with EPS estimates ranging from $12.00 to $15.18. For the next fiscal year, analysts anticipate that the company will post earnings of $16.72 per share, with EPS estimates ranging from $14.68 to $17.95. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for RenaissanceRe.

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

RNR has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on shares of RenaissanceRe from $229.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday, January 28th. Zacks Investment Research raised shares of RenaissanceRe from a “sell” rating to a “hold” rating and set a $180.00 price objective on the stock in a research note on Wednesday, March 17th. JPMorgan Chase & Co. lifted their price objective on shares of RenaissanceRe from $160.00 to $162.00 and gave the company an “underweight” rating in a research note on Monday, January 4th. The Goldman Sachs Group upgraded shares of RenaissanceRe from a “neutral” rating to a “buy” rating and raised their target price for the company from $194.00 to $199.00 in a research report on Friday, January 8th. Finally, TheStreet upgraded shares of RenaissanceRe from a “c+” rating to a “b-” rating in a research report on Wednesday, January 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. RenaissanceRe currently has a consensus rating of “Hold” and a consensus price target of $185.71.

Shares of RNR opened at $168.00 on Thursday. RenaissanceRe has a 12 month low of $137.90 and a 12 month high of $201.29. The firm’s 50 day moving average is $163.74 and its 200-day moving average is $165.69. The stock has a market capitalization of $8.36 billion, a PE ratio of 13.49, a P/E/G 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date 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%.

Large investors have recently modified their holdings of the company. Voloridge Investment Management LLC acquired a new position in shares of RenaissanceRe during the fourth quarter worth $16,280,000. Schonfeld Strategic Advisors LLC lifted its holdings in RenaissanceRe by 108.8% in the third quarter. Schonfeld Strategic Advisors LLC now owns 4,337 shares of the insurance provider’s stock valued at $736,000 after buying an additional 2,260 shares during the period. Montag A & Associates Inc. acquired a new position in RenaissanceRe in the fourth quarter valued at $2,276,000. New York State Teachers Retirement System lifted its holdings in RenaissanceRe by 3.7% in the fourth quarter. New York State Teachers Retirement System now owns 44,575 shares of the insurance provider’s stock valued at $7,391,000 after buying an additional 1,600 shares during the period. Finally, NN Investment Partners Holdings N.V. lifted its holdings in RenaissanceRe by 66.9% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 3,930 shares of the insurance provider’s stock valued at $652,000 after buying an additional 1,575 shares during the period. 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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