RenaissanceRe (RNR) Projected to Post Quarterly Earnings on Tuesday

RenaissanceRe (NYSE:RNR) will likely be announcing its earnings results after the market closes on Tuesday, January 28th. Analysts expect the company to announce earnings of $6.94 per share and revenue of $2,682,500.00 billion for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating the consensus estimate of $7.89 by $2.34. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business’s revenue for the quarter was up 52.1% compared to the same quarter last year. During the same quarter last year, the business earned $8.33 earnings per share. On average, analysts expect RenaissanceRe to post $42 EPS for the current fiscal year and $35 EPS for the next fiscal year.

RenaissanceRe Stock Performance

Shares of RNR opened at $257.38 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The stock has a market cap of $13.37 billion, a P/E ratio of 3.71, a PEG ratio of 1.79 and a beta of 0.44. The company has a 50-day moving average of $262.19 and a two-hundred day moving average of $255.73. RenaissanceRe has a 12-month low of $203.35 and a 12-month high of $300.00.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.61%. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.25%.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the transaction, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RNR. Keefe, Bruyette & Woods boosted their target price on shares of RenaissanceRe from $310.00 to $318.00 and gave the company an “outperform” rating in a report on Friday, January 10th. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Evercore ISI boosted their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and a consensus target price of $284.00.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, 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 reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as 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.