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

ReNew Energy Global Plc (NASDAQ:RNW) – Equities researchers at Roth Capital lifted their FY2024 earnings per share (EPS) estimates for shares of ReNew Energy Global in a report released on Wednesday, April 10th. Roth Capital analyst J. Clare now anticipates that the company will post earnings per share of ($0.02) for the year, up from their previous estimate of ($0.10). The consensus estimate for ReNew Energy Global’s current full-year earnings is $0.04 per share. Roth Capital also issued estimates for ReNew Energy Global’s Q4 2024 earnings at ($0.11) EPS, Q3 2025 earnings at ($0.15) EPS and FY2025 earnings at ($0.02) EPS.

Other research analysts also recently issued research reports about the company. Mizuho raised their target price on ReNew Energy Global from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. The Goldman Sachs Group raised their target price on ReNew Energy Global from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Finally, Roth Mkm dropped their price target on ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $8.35.

ReNew Energy Global Stock Down 4.1 %

Shares of NASDAQ RNW opened at $5.61 on Monday. ReNew Energy Global has a 52 week low of $4.78 and a 52 week high of $7.79. The business has a 50-day simple moving average of $6.25 and a two-hundred day simple moving average of $6.34. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 4.57. The company has a market cap of $2.09 billion, a P/E ratio of 56.10 and a beta of 0.91.

ReNew Energy Global (NASDAQ:RNW) last announced its quarterly earnings data 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). ReNew Energy Global had a return on equity of 2.96% and a net margin of 3.61%. The firm had revenue of $232.00 million during the quarter, compared to analysts’ expectations of $195.90 million. During the same period last year, the business posted ($0.15) EPS.

Institutional Trading of ReNew Energy Global

A number of large investors have recently modified their holdings of the business. Quantbot Technologies LP boosted its stake in ReNew Energy Global by 556.4% in the second quarter. Quantbot Technologies LP now owns 4,595 shares of the company’s stock worth $29,000 after buying an additional 3,895 shares in the last quarter. State of Wyoming purchased a new stake in ReNew Energy Global in the fourth quarter worth approximately $28,000. Pale Fire Capital SE purchased a new stake in ReNew Energy Global in the third quarter worth approximately $54,000. Citigroup Inc. purchased a new stake in ReNew Energy Global in the second quarter worth approximately $55,000. Finally, Legal & General Group Plc boosted its stake in ReNew Energy Global by 287.0% in the third quarter. Legal & General Group Plc now owns 10,677 shares of the company’s stock worth $58,000 after buying an additional 7,918 shares in the last quarter. Institutional investors own 43.56% of the company’s stock.

About ReNew Energy Global

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.