$1.61 Billion in Sales Expected for RenaissanceRe Holdings Ltd. (NYSE:RNR) This Quarter

Brokerages forecast that RenaissanceRe Holdings Ltd. (NYSE:RNRGet Rating) will announce sales of $1.61 billion for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for RenaissanceRe’s earnings, with estimates ranging from $1.60 billion to $1.62 billion. RenaissanceRe reported sales of $1.27 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 26.8%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that RenaissanceRe will report full year sales of $6.62 billion for the current financial year, with estimates ranging from $6.55 billion to $6.69 billion. For the next fiscal year, analysts forecast that the company will post sales of $7.35 billion, with estimates ranging from $7.19 billion to $7.52 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover RenaissanceRe.

RenaissanceRe (NYSE:RNRGet Rating) last issued its earnings results on Tuesday, May 3rd. The insurance provider reported $3.50 EPS for the quarter, missing the consensus estimate of $5.64 by ($2.14). RenaissanceRe had a positive return on equity of 1.67% and a negative net margin of 0.76%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2 billion. During the same period in the previous year, the firm posted $0.09 EPS. The firm’s revenue was up 18.7% compared to the same quarter last year.

Several brokerages recently commented on RNR. Morgan Stanley upped their target price on RenaissanceRe from $172.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, February 23rd. StockNews.com initiated coverage on RenaissanceRe in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, TheStreet lowered RenaissanceRe from a “b-” rating to a “c” rating in a research report on Thursday, March 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, RenaissanceRe currently has a consensus rating of “Hold” and an average price target of $177.80.

RenaissanceRe stock opened at $146.29 on Friday. The business has a 50 day moving average of $150.04 and a 200-day moving average of $156.43. RenaissanceRe has a 1 year low of $134.70 and a 1 year high of $174.54. The company has a market capitalization of $6.46 billion, a P/E ratio of -30.16 and a beta of 0.58. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 1.45.

Several institutional investors and hedge funds have recently modified their holdings of RNR. Quent Capital LLC bought a new stake in shares of RenaissanceRe during the 4th quarter valued at about $27,000. Parallel Advisors LLC raised 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 valued at $37,000 after buying an additional 122 shares in the last quarter. Toth Financial Advisory Corp raised its holdings 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 buying an additional 145 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of RenaissanceRe during the 4th quarter valued at about $45,000. Finally, Koshinski Asset Management Inc. raised its holdings in shares of RenaissanceRe by 41.8% during the 1st quarter. Koshinski Asset Management Inc. now owns 312 shares of the insurance provider’s stock valued at $49,000 after buying an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 98.18% 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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