Brokerages Expect Renasant Co. (NASDAQ:RNST) to Post $0.63 EPS

Brokerages expect Renasant Co. (NASDAQ:RNSTGet Rating) to post earnings per share (EPS) of $0.63 for the current quarter, Zacks reports. Four analysts have provided estimates for Renasant’s earnings. The lowest EPS estimate is $0.60 and the highest is $0.67. Renasant reported earnings of $0.73 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 13.7%. The business is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Renasant will report full-year earnings of $2.69 per share for the current financial year, with EPS estimates ranging from $2.58 to $2.80. For the next year, analysts anticipate that the business will report earnings of $2.93 per share, with EPS estimates ranging from $2.85 to $3.00. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Renasant.

Renasant (NASDAQ:RNSTGet Rating) last posted its quarterly earnings results on Tuesday, April 26th. The financial services provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Renasant had a net margin of 23.66% and a return on equity of 7.01%. The company had revenue of $137.09 million for the quarter, compared to the consensus estimate of $143.48 million. During the same period last year, the company posted $0.85 EPS.

Several research firms recently commented on RNST. DA Davidson upgraded shares of Renasant from a “neutral” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Thursday, February 24th. began coverage on shares of Renasant in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research downgraded shares of Renasant from a “buy” rating to a “hold” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from, Renasant presently has an average rating of “Hold” and a consensus price target of $40.33.

Shares of RNST traded down $0.32 during mid-day trading on Friday, reaching $30.90. The company had a trading volume of 158,329 shares, compared to its average volume of 218,934. The company’s 50 day simple moving average is $31.39 and its 200 day simple moving average is $35.06. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.83 and a current ratio of 0.85. Renasant has a 1-year low of $28.64 and a 1-year high of $44.41. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 11.49 and a beta of 1.11.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, June 15th. This represents a $0.88 annualized dividend and a yield of 2.85%. Renasant’s payout ratio is 32.71%.

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in Renasant by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,762,166 shares of the financial services provider’s stock worth $135,627,000 after purchasing an additional 11,119 shares during the last quarter. Two Sigma Investments LP bought a new position in Renasant during the 3rd quarter worth approximately $2,811,000. Yousif Capital Management LLC bought a new position in Renasant during the 4th quarter worth approximately $1,969,000. GSA Capital Partners LLP bought a new position in Renasant during the 3rd quarter worth approximately $596,000. Finally, Bessemer Group Inc. bought a new position in Renasant during the 4th quarter worth approximately $893,000. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Renasant Company Profile (Get Rating)

Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities.

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