Should I buy or sell ReNew Energy Global stock right now?

5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for ReNew Energy Global in the last twelve months. There are currently 5 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" RNW shares. View RNW analyst ratings or view top-rated stocks .

What is ReNew Energy Global's stock price target for 2024?

5 Wall Street research analysts have issued twelve-month price targets for ReNew Energy Global's stock. Their RNW share price targets range from $7.00 to $10.00. On average, they anticipate the company's share price to reach $8.35 in the next year. This suggests a possible upside of 54.1% from the stock's current price. View analysts price targets for RNW or view top-rated stocks among Wall Street analysts .

How have RNW shares performed in 2024?

ReNew Energy Global's stock was trading at $7.66 at the beginning of 2024. Since then, RNW stock has decreased by 29.2% and is now trading at $5.42. View the best growth stocks for 2024 here .

When is ReNew Energy Global's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, June 4th 2024. View our RNW earnings forecast .

How were ReNew Energy Global's earnings last quarter?

ReNew Energy Global Plc (NASDAQ:RNW) issued its earnings results on Tuesday, February, 20th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by $0.01. The company earned $232 million during the quarter, compared to analysts' expectations of $195.90 million. ReNew Energy Global had a net margin of 3.61% and a trailing twelve-month return on equity of 2.96%. During the same period last year, the business earned ($0.15) earnings per share.

What ETFs hold ReNew Energy Global's stock?

ETFs with the largest weight of ReNew Energy Global (NASDAQ:RNW) stock in their portfolio include Global X Wind Energy ETF (WNDY) , First Trust BICK Index Fund (BICK) , Fidelity Clean Energy ETF (FRNW) , Global X Renewable Energy Producers ETF (RNRG) , SPDR S&P Kensho Clean Power ETF (CNRG) , First Trust Global Wind Energy ETF (FAN) and First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) . Invesco Solar ETF (TAN) .

Who are ReNew Energy Global's major shareholders?

ReNew Energy Global's stock is owned by a number of institutional and retail investors. Top institutional shareholders include Counterpoint Mutual Funds LLC (0.01%).

How do I buy shares of ReNew Energy Global?

Shares of RNW stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services. Compare Top Brokerages Here .

NASDAQ:RNW

ReNew Energy Global (RNW) Stock Price, News & Analysis

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$5.42

+0.10 (+1.88%)

(As of 04/17/2024 ET)

Compare

Today's Range: $5.26
▼
$5.48
50-Day Range: $5.32
▼
$6.68
52-Week Range: $4.78
▼
$7.79

Volume: 967,860 shs
Average Volume: 605,427 shs
Market Capitalization: $2.02 billion

P/E Ratio: 54.20
Dividend Yield: N/A
Price Target: $8.35

Get ReNew Energy Global alerts:

ReNew Energy Global MarketRank™ Stock Analysis

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 54.1% Upside
$8.35 Price Target
Short Interest: Bearish
4.14% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.40
Based on 15 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: -25.00%
From $0.04 to $0.03 Per Share

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

1.44 out of 5 stars

Oils/Energy Sector

189th out of 230 stocks

Electric Services Industry

34th out of 40 stocks

3.5

Analyst's Opinion

Consensus Rating
ReNew Energy Global has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 5 buy ratings, no hold ratings, and no sell ratings.
Amount of Analyst Coverage
ReNew Energy Global has only been the subject of 1 research reports in the past 90 days.

1.0

Short Interest

Percentage of Shares Shorted
4.14% of the float of ReNew Energy Global has been sold short.
Short Interest Ratio / Days to Cover
ReNew Energy Global has a short interest ratio ("days to cover") of 10.5, which indicates bearish sentiment.
Change versus previous month
Short interest in ReNew Energy Global has recently increased by 10.69%, indicating that investor sentiment is decreasing significantly.

0.0

Dividend Strength

Dividend Yield
ReNew Energy Global does not currently pay a dividend.
Dividend Growth
ReNew Energy Global does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for RNW.

3.0

News and Social Media Coverage

News Sentiment
ReNew Energy Global has a news sentiment score of 0.40. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.51 average news sentiment score of Oils/Energy companies.
News Coverage This Week
MarketBeat has tracked 15 news articles for ReNew Energy Global this week, compared to 3 articles on an average week.
Search Interest
4 people have searched for RNW on MarketBeat in the last 30 days. This is an increase of 300% compared to the previous 30 days.
MarketBeat Follows
4 people have added ReNew Energy Global to their MarketBeat watchlist in the last 30 days. This is an increase of 100% compared to the previous 30 days.

0.8

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, ReNew Energy Global insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 8.65% of the stock of ReNew Energy Global is held by insiders.
Percentage Held by Institutions
43.56% of the stock of ReNew Energy Global is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6

Earnings and Valuation

Earnings Growth
Earnings for ReNew Energy Global are expected to decrease by -25.00% in the coming year, from $0.04 to $0.03 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of ReNew Energy Global is 54.20, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 136.94.
Price to Earnings Ratio vs. Sector
The P/E ratio of ReNew Energy Global is 54.20, which means that it is trading at a more expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 20.08.
Price to Book Value per Share Ratio
ReNew Energy Global has a P/B Ratio of 1.40. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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About ReNew Energy Global Stock (NASDAQ:RNW)

ReNew Energy Global Plc generates power through non-conventional and renewable energy sources in India. The company operates through two segments: Wind Power and Solar Power. It develops, builds, owns, and operates utility scale wind and solar energy, hydro energy, and utility-scale firm power projects, as well as distributed solar energy projects that generate energy for commercial and industrial customers. The company provides engineering, procurement, and construction services; operation and maintenance services; consultancy services; and sells renewable energy certificates. ReNew Energy Global Plc was founded in 2011 and is based in London, the United Kingdom.

RNW Stock Price History

30 days | 90 days | 365 days | Advanced Chart

RNW Stock News Headlines

April 16, 2024 | msn.com

Seven countries now generate 100% of their electricity from renewable energy

April 16, 2024 | msn.com

Wind projects hit a record in 2023—but more power is needed to reach global renewable energy goals

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April 15, 2024 | forbes.com

U.K.’s Renewable Energy Industry Gets A Vote Of Confidence From Japan

April 15, 2024 | americanbankingnews.com

Equities Analysts Issue Forecasts for ReNew Energy Global Plc's FY2024 Earnings (NASDAQ:RNW)

April 13, 2024 | americanbankingnews.com

ReNew Energy Global (NASDAQ:RNW) PT Lowered to $8.00

April 13, 2024 | americanbankingnews.com

Q2 2025 EPS Estimates for ReNew Energy Global Plc Decreased by Roth Capital (NASDAQ:RNW)

April 10, 2024 | businesswire.com

ReNew Crosses 10 GW of Gross Renewable Energy Assets

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April 4, 2024 | msn.com

Renewable Energy Investment Not Enough to Reach Paris Climate Target

March 12, 2024 | msn.com

How Will Sarawak Achieve Being Major Renewable Energy Source for SEA?

February 29, 2024 | investorplace.com

Big Oil's New Rivals: 3 Clean Energy Stocks Leading the Charge

February 26, 2024 | seekingalpha.com

Enlight Renewable Energy reports Q4 results

February 22, 2024 | seekingalpha.com

ReNew Energy Global Plc (RNW) Q3 2024 Earnings Call Transcript

February 21, 2024 | finance.yahoo.com

ReNew Energy Global Plc (NASDAQ:RNW) Q3 2024 Earnings Call Transcript

February 21, 2024 | seekingalpha.com

ReNew Energy Global: The Indian Renewables Opportunity Is Opening Up

February 20, 2024 | msn.com

ReNew Energy Global PLC (RNW) Reports Q3 Loss, Tops Revenue Estimates

February 20, 2024 | finance.yahoo.com

ReNew Announces Results for the Third Quarter and Nine Months of Fiscal Year 2024: Increases the bottom end of Adjusted EBITDA guidance for FY24 by 2%

February 20, 2024 | benzinga.com

ReNew Energy Glb: Q3 Earnings Insights

February 20, 2024 | businesswire.com

ReNew Announces Results for the Third Quarter and Nine Months of Fiscal Year 2024: Increases the bottom end of Adjusted EBITDA guidance for FY24 by 2%

February 20, 2024 | seekingalpha.com

ReNew Energy Global Plc 2024 Q3 - Results - Earnings Call Presentation

February 19, 2024 | benzinga.com

Earnings Preview: ReNew Energy Glb

February 14, 2024 | msn.com

$100 billion needed annually for Africa's renewable energy goal - Report

February 12, 2024 | finance.yahoo.com

ReNew Announces Date and Conference Call Details for Q3 FY 24 Earnings Report

February 6, 2024 | msn.com

China’s About To Change The World With Massive Renewable Energy Desert Bases

January 30, 2024 | seekingalpha.com

Renewable Power: Stubborn Challenges Need To Be Addressed For Sustainable Growth

January 12, 2024 | finance.yahoo.com

ReNew Refinances US$ 325 Million Debt Three Months Ahead of Maturity

See More Headlines

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Company Calendar

Last Earnings: 2/20/2024
Today: 4/17/2024
Next Earnings (Estimated): 6/04/2024
Fiscal Year End: 3/31/2025

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Sector: Utilities
Industry: Utilities - Renewable
Sub-Industry: N/A
Current Symbol: NASDAQ:RNW
CUSIP: N/A
CIK: 1848763
Web: www.rmgacquisition.com
Phone: 124-489-6670
Fax: N/A
Employees: 2,481
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $8.35
High Stock Price Target: $10.00
Low Stock Price Target: $7.00
Potential Upside/Downside: +54.1%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 5 Analysts

Profitability

EPS (Most Recent Fiscal Year): $0.10
Trailing P/E Ratio: 54.20
Forward P/E Ratio: 135.50
P/E Growth: N/A
Net Income: $-58,000,000.00
Net Margins: 3.61%
Pretax Margin: 5.37%
Return on Equity: 2.96%
Return on Assets: 0.44%

Debt

Debt-to-Equity Ratio: 4.57
Current Ratio: 0.85
Quick Ratio: 0.84

Sales & Book Value

Annual Sales: $1.09 billion
Price / Sales: 1.86
Cash Flow: $0.36 per share
Price / Cash Flow: 15.20
Book Value: $3.86 per share
Price / Book: 1.40

Miscellaneous

Outstanding Shares: 373,040,000
Free Float: 340,770,000
Market Cap: $2.02 billion
Optionable: Optionable
Beta: 0.91

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Key Executives

Mr. Sumant Sinha (Age 59)
Founder, Chairman & CEO
Comp: $1.73M
Mr. Kailash Vaswani
Chief Financial Officer
Nathan Judge
Investor Relations Officer
Mr. Ashish Jain (Age 46)
Company Secretary & Compliance Officer
Mr. Vikash Jain (Age 46)
Group President of Legal & CS
Mr. Ajay Tripathi
Chief Human Resources Officer
Ms. Vaishali Nigam Sinha
Cofounder of ReNew & Chairperson of Sustainability
Mr. Balram Mehta (Age 54)
COO & Group President of ReNew Services Business
Mr. Mayank Bansal (Age 46)
Group President of India RE Business
Mr. Sanjay Varghese (Age 54)
President of ReNew Projects

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

RNW Stock Analysis - Frequently Asked Questions

Should I buy or sell ReNew Energy Global stock right now?: 5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for ReNew Energy Global in the last twelve months. There are currently 5 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" RNW shares.
View RNW analyst ratings or view top-rated stocks.
What is ReNew Energy Global's stock price target for 2024?: 5 Wall Street research analysts have issued twelve-month price targets for ReNew Energy Global's stock. Their RNW share price targets range from $7.00 to $10.00. On average, they anticipate the company's share price to reach $8.35 in the next year. This suggests a possible upside of 54.1% from the stock's current price.
View analysts price targets for RNW or view top-rated stocks among Wall Street analysts.
How have RNW shares performed in 2024?: ReNew Energy Global's stock was trading at $7.66 at the beginning of 2024. Since then, RNW stock has decreased by 29.2% and is now trading at $5.42.
View the best growth stocks for 2024 here.
When is ReNew Energy Global's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, June 4th 2024.
View our RNW earnings forecast.

How were ReNew Energy Global's earnings last quarter?: ReNew Energy Global Plc (NASDAQ:RNW) issued its earnings results on Tuesday, February, 20th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by $0.01. The company earned $232 million during the quarter, compared to analysts' expectations of $195.90 million. ReNew Energy Global had a net margin of 3.61% and a trailing twelve-month return on equity of 2.96%. During the same period last year, the business earned ($0.15) earnings per share.
What ETFs hold ReNew Energy Global's stock?: ETFs with the largest weight of ReNew Energy Global (NASDAQ:RNW) stock in their portfolio include Global X Wind Energy ETF (WNDY), First Trust BICK Index Fund (BICK), Fidelity Clean Energy ETF (FRNW), Global X Renewable Energy Producers ETF (RNRG), SPDR S&P Kensho Clean Power ETF (CNRG), First Trust Global Wind Energy ETF (FAN) and First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN).Invesco Solar ETF (TAN).
Who are ReNew Energy Global's major shareholders?: ReNew Energy Global's stock is owned by a number of institutional and retail investors. Top institutional shareholders include Counterpoint Mutual Funds LLC (0.01%).
How do I buy shares of ReNew Energy Global?: Shares of RNW stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:RNW) was last updated on 4/17/2024 by MarketBeat.com Staff

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