Reports Strong First-Quarter Financial Results RenaissanceRe (NYSE:RNR)

Earnings results for RenaissanceRe (NYSE:RNR)

RenaissanceRe Holdings Ltd. is expected* to report earnings on 07/22/2021 after market close. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 4 analysts’ forecasts, the consensus EPS forecast for the quarter is $4.85. The reported EPS for the same quarter last year was $4.06.

RenaissanceRe last released its quarterly earnings results on April 28th, 2021. The insurance provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by $0.65. The firm earned $1.82 billion during the quarter, compared to the consensus estimate of $1.67 billion. Its revenue for the quarter was up 43.6% on a year-over-year basis. RenaissanceRe has generated $0.12 earnings per share over the last year and currently has a price-to-earnings ratio of 13.3. RenaissanceRe has confirmed that its next quarterly earnings report will be published on Thursday, July 22nd, 2021. RenaissanceRe will be holding an earnings conference call on Friday, July 23rd at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 404-537-3406 with passcode “5371939”.

Analyst Opinion on RenaissanceRe (NYSE:RNR)

5 Wall Street analysts have issued ratings and price targets for RenaissanceRe in the last 12 months. Their average twelve-month price target is $191.60, predicting that the stock has a possible upside of 26.19%. The high price target for RNR is $220.00 and the low price target for RNR is $162.00. There are currently 1 sell rating, 2 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 2.20, and is based on 2 buy ratings, 2 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $191.60, RenaissanceRe has a forecasted upside of 26.2% from its current price of $151.84. RenaissanceRe has received no research coverage in the past 90 days.

Dividend Strength: RenaissanceRe (NYSE:RNR)

RenaissanceRe has a dividend yield of 0.96%, 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 1,200.00%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, RenaissanceRe will have a dividend payout ratio of 8.68% 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 1.30% of the stock of RenaissanceRe is held by insiders. 94.27% 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 57.55% in the coming year, from $10.53 to $16.59 per share. The P/E ratio of RenaissanceRe is 13.27, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 22.56. The P/E ratio of RenaissanceRe is 13.27, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 19.78. RenaissanceRe has a P/B Ratio of 1.10. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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