RenaissanceRe Holdings Ltd. (NYSE:RNR) Expected to Post Earnings of $5.10 Per Share

Equities research analysts forecast that RenaissanceRe Holdings Ltd. (NYSE:RNR – Get Rating) will announce $5.10 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for RenaissanceRe’s earnings, with estimates ranging from $4.18 to $6.22. RenaissanceRe reported earnings of $0.09 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 5,566.7%. The company is expected to report its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that RenaissanceRe will report full-year earnings of $16.79 per share for the current year, with EPS estimates ranging from $15.20 to $19.79. For the next year, analysts anticipate that the firm will report earnings of $21.77 per share, with EPS estimates ranging from $17.81 to $23.45. Zacks’ EPS averages are an average based on a survey of analysts that follow RenaissanceRe.

RenaissanceRe (NYSE:RNR – Get Rating) last announced its quarterly earnings results on Tuesday, January 25th. The insurance provider reported $4.71 EPS for the quarter, beating the consensus estimate of $3.71 by $1.00. RenaissanceRe had a positive return on equity of 1.67% and a negative net margin of 0.76%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the company posted ($1.59) earnings per share. The company’s revenue for the quarter was up 49.6% compared to the same quarter last year.

A number of research firms have weighed in on RNR. Morgan Stanley boosted their target price on shares of RenaissanceRe from $172.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 23rd. TheStreet cut RenaissanceRe from a “b-” rating to a “c” rating in a research report on Thursday, March 10th. Finally, StockNews.com initiated coverage on RenaissanceRe in a report on Thursday, March 31st. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and an average price target of $177.80.

NYSE:RNR opened at $151.94 on Wednesday. The firm has a market capitalization of $6.71 billion, a PE ratio of -93.79 and a beta of 0.55. RenaissanceRe has a 1 year low of $134.70 and a 1 year high of $175.12. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.20. The firm’s fifty day simple moving average is $151.63 and its 200 day simple moving average is $155.82.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Tuesday, March 15th were given a dividend of $0.37 per share. The ex-dividend date was Monday, March 14th. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 0.97%. RenaissanceRe’s dividend payout ratio (DPR) is -91.36%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC bought a new position in RenaissanceRe in the fourth quarter worth $27,000. Signaturefd LLC raised its stake in shares of RenaissanceRe by 40.2% in the 3rd quarter. Signaturefd LLC now owns 251 shares of the insurance provider’s stock valued at $35,000 after buying an additional 72 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of RenaissanceRe by 125.8% during the 4th quarter. Parallel Advisors LLC now owns 219 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 122 shares during the period. Toth Financial Advisory Corp boosted its position in shares of RenaissanceRe by 121.8% during the 4th quarter. Toth Financial Advisory Corp now owns 264 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 145 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in RenaissanceRe in the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 99.79% of the company’s stock.

RenaissanceRe Company Profile (Get Rating)

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, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.

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