RenaissanceRe (RNR) Projected to Post Quarterly Earnings on Tuesday

RenaissanceRe (NYSE:RNR) will likely be issuing its quarterly earnings data 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. Parties that are interested in registering for the company’s conference call can do so using this link.

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

RenaissanceRe Stock Up 0.2 %

Shares of NYSE 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. RenaissanceRe has a 12 month low of $203.35 and a 12 month high of $300.00. The firm has a market capitalization of $13.37 billion, a PE ratio of 3.71, a price-to-earnings-growth ratio of 1.79 and a beta of 0.44. The firm has a fifty day simple moving average of $262.19 and a two-hundred day simple moving average of $255.73.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.39 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.61%. RenaissanceRe’s payout ratio is 2.25%.

Insider Activity

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the transaction, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at $20,178,270.72. The trade was 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 accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

RNR has been the subject of a number of analyst reports. Jefferies Financial Group restated a “hold” rating and set a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods raised their price target on shares of RenaissanceRe from $310.00 to $318.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Evercore ISI raised their price target on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a report on Thursday, November 7th. Barclays downgraded shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $284.00 to $234.00 in a report on Monday, January 6th. Finally, Wells Fargo & Company dropped their price target on shares of RenaissanceRe from $301.00 to $288.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $284.00.

About RenaissanceRe

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.