Earnings and Growth Analysis : RenaissanceRe (NYSE:RNR)

Earnings results for RenaissanceRe (NYSE:RNR)

RenaissanceRe Holdings Ltd. is expected* to report earnings on 10/27/2020 after market close. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 3 analysts’ forecasts, the consensus EPS forecast for the quarter is $-1.19. The reported EPS for the same quarter last year was $0.29.

RenaissanceRe last released its quarterly earnings results on July 28th, 2020. The insurance provider reported $4.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $1.38. The firm earned $1.18 billion during the quarter, compared to analyst estimates of $1.19 billion. Its quarterly revenue was up 15.4% on a year-over-year basis. RenaissanceRe has generated $9.13 earnings per share over the last year and currently has a price-to-earnings ratio of 14.2. RenaissanceRe has confirmed that its next quarterly earnings report will be published on Tuesday, October 27th, 2020.

Analyst Opinion on RenaissanceRe (NYSE:RNR)

6 Wall Street analysts have issued ratings and price targets for RenaissanceRe in the last 12 months. Their average twelve-month price target is $192.67, predicting that the stock has a possible upside of 10.16%. The high price target for RNR is $229.00 and the low price target for RNR is $158.00. There are currently 1 sell rating, 3 hold ratings and 2 buy ratings for the stock, resulting in a consensus rating of “Hold.”

RenaissanceRe has received a consensus rating of Hold. The company’s average rating score is 2.17, and is based on 2 buy ratings, 3 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $192.67, RenaissanceRe has a forecasted upside of 10.2% from its current price of $174.90. RenaissanceRe has only been the subject of 1 research reports in the past 90 days.

Dividend Strength: RenaissanceRe (NYSE:RNR)

RenaissanceRe has a dividend yield of 0.79%, which is in the bottom 25% of all stocks that pay dividends. RenaissanceRe has only been increasing its dividend for 1 years. The dividend payout ratio of RenaissanceRe is 15.33%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, RenaissanceRe will have a dividend payout ratio of 9.30% next year. This indicates that RenaissanceRe will be able to sustain or increase its dividend.

Insiders buying/selling: RenaissanceRe (NYSE:RNR)

In the past three months, RenaissanceRe insiders have not sold or bought any company stock. Only 1.60% of the stock of RenaissanceRe is held by insiders. 92.34% of the stock of RenaissanceRe is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of RenaissanceRe (NYSE:RNR

Earnings for RenaissanceRe are expected to grow by 140.19% in the coming year, from $6.27 to $15.06 per share. The P/E ratio of RenaissanceRe is 14.17, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 19.34. The P/E ratio of RenaissanceRe is 14.17, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 18.21. RenaissanceRe has a PEG Ratio of 1.04. PEG Ratios around 1 indicate that a company is correctly valued. RenaissanceRe has a P/B Ratio of 1.45. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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