RenaissanceRe (RNR) to Release Quarterly Earnings on Wednesday

RenaissanceRe (NYSE:RNR - Get Free Report) is expected to post its quarterly earnings results after the market closes on Wednesday, April 23rd. Analysts expect RenaissanceRe to post earnings of $1.26 per share and revenue of $3.36 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 - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, beating analysts' consensus estimates of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. On average, analysts expect RenaissanceRe to post $26 EPS for the current fiscal year and $39 EPS for the next fiscal year.

RenaissanceRe Price Performance

NYSE:RNR traded up $3.24 during trading hours on Friday, hitting $241.09. 429,115 shares of the company's stock traded hands, compared to its average volume of 417,754. RenaissanceRe has a 52 week low of $208.98 and a 52 week high of $300.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The firm has a market cap of $11.81 billion, a P/E ratio of 6.88, a P/E/G ratio of 2.09 and a beta of 0.29. The business's fifty day simple moving average is $237.11 and its two-hundred day simple moving average is $253.69.

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.40 dividend. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. RenaissanceRe's dividend payout ratio is presently 4.57%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wells Fargo & Company reduced their target price on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Keefe, Bruyette & Woods cut their target price on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating for the company in a research note on Tuesday, February 4th. Morgan Stanley decreased their price target on shares of RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Finally, Barclays reduced their target price on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $280.80.

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.