$5.03 EPS Expected for RenaissanceRe Holdings Ltd. (NYSE:RNR) This Quarter

Wall Street brokerages expect that RenaissanceRe Holdings Ltd. (NYSE:RNRGet Rating) will post earnings per share (EPS) of $5.03 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for RenaissanceRe’s earnings. The lowest EPS estimate is $3.79 and the highest is $6.22. RenaissanceRe reported earnings per share of $0.09 during the same quarter last year, which would suggest a positive year-over-year growth rate of 5,488.9%. The company is expected to report its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that RenaissanceRe will report full-year earnings of $16.83 per share for the current financial year, with EPS estimates ranging from $15.20 to $19.96. For the next year, analysts expect that the firm will post earnings of $21.79 per share, with EPS estimates ranging from $17.81 to $23.55. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that cover RenaissanceRe.

RenaissanceRe (NYSE:RNRGet Rating) last announced its quarterly earnings results on Tuesday, January 25th. The insurance provider reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $3.71 by $1.00. RenaissanceRe had a positive return on equity of 1.67% and a negative net margin of 0.76%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the business posted ($1.59) earnings per share. The business’s revenue was up 49.6% compared to the same quarter last year.

Several brokerages recently issued reports on RNR. StockNews.com began coverage on shares of RenaissanceRe in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Morgan Stanley upped their price target on shares of RenaissanceRe from $172.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 23rd. Finally, TheStreet downgraded shares of RenaissanceRe from a “b-” rating to a “c” rating in a research report on Thursday, March 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $177.80.

NYSE RNR traded down $2.13 on Wednesday, hitting $152.03. 3,471 shares of the company were exchanged, compared to its average volume of 427,987. The firm has a 50 day moving average of $151.55 and a two-hundred day moving average of $156.25. The company has a market cap of $6.72 billion, a P/E ratio of -93.93 and a beta of 0.55. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.20. RenaissanceRe has a 1-year low of $134.70 and a 1-year high of $175.12.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were given a dividend of $0.37 per share. The ex-dividend date was Monday, March 14th. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 0.97%. RenaissanceRe’s dividend payout ratio is presently -91.36%.

A number of institutional investors have recently added to or reduced their stakes in the business. Boston Partners lifted its position in RenaissanceRe by 5.3% during the 3rd quarter. Boston Partners now owns 1,396,475 shares of the insurance provider’s stock valued at $194,700,000 after purchasing an additional 70,874 shares during the period. Southeastern Asset Management Inc. TN increased its stake in shares of RenaissanceRe by 16.9% in the 4th quarter. Southeastern Asset Management Inc. TN now owns 1,062,630 shares of the insurance provider’s stock valued at $179,935,000 after acquiring an additional 153,677 shares during the last quarter. Cooke & Bieler LP increased its stake in shares of RenaissanceRe by 28.0% in the 3rd quarter. Cooke & Bieler LP now owns 992,795 shares of the insurance provider’s stock valued at $138,396,000 after acquiring an additional 217,095 shares during the last quarter. Polar Capital Holdings Plc increased its stake in shares of RenaissanceRe by 3.9% in the 3rd quarter. Polar Capital Holdings Plc now owns 899,504 shares of the insurance provider’s stock valued at $125,391,000 after acquiring an additional 34,051 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of RenaissanceRe by 5.7% in the 4th quarter. JPMorgan Chase & Co. now owns 822,053 shares of the insurance provider’s stock valued at $139,197,000 after acquiring an additional 44,007 shares during the last quarter. Institutional investors own 99.79% of the company’s stock.

About RenaissanceRe (Get Rating)

RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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.

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