RenaissanceRe Holdings Ltd. (NYSE:RNR) shares traded higher over the last trading session, gaining 2.19% on 05/19/21. The shares fell to a low of $155.00 before closing at $159.45. Intraday shares traded counted 0.61 million, which was -39.55% lower than its 30-day average trading volume of 440.33K. RNR’s previous close was $156.04 while the outstanding shares total 49.58M. The firm has a beta of 0.48, a 12-month trailing P/E ratio of 14.83, and a growth ratio of 0.63. The stock’s Relative Strength Index (RSI) is 43.80, with weekly volatility at 3.02% and ATR at 3.97. The RNR stock’s 52-week price range has touched low of $144.03 and a $201.29 high.
Investors have identified the Insurance – Reinsurance company RenaissanceRe Holdings Ltd. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $7.72 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Potential earnings growth for RenaissanceRe Holdings Ltd. (RNR)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 07/27/2021 quarter of the year, RenaissanceRe Holdings Ltd. recorded a total of 861.9 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with -3.99% coming in sequential stages and their sales for the 07/27/2021 quarter reducing by -61.89%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 1.21 billion trying to sell their products during the last quarter, with the result yielding a gross income of -350.01 million. This allows shareholders to hold on to 49.58M with the recently reported earning now reading -5.87 cents per share. This is a figure that compared to analyst’s prediction for their 07/27/2021 (0.09 cents a share).
Having a look at the company’s valuation, the company is expected to record 16.59 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on RNR sounds very interesting.
Is the stock of RNR attractive?
In related news, Pres & Chief Executive Officer, ODonnell Kevin sold 11,748 shares of the company’s stock in a transaction that recorded on Mar 01. The sale was performed at an average price of 167.29, for a total value of 1,965,323. As the sale deal closes, the EVP, Chief Risk Officer, BRANAGAN IAN D now sold 4,000 shares of the company’s stock, valued at 800,000. Also, President, Ventures, Dutt Aditya sold 5,000 shares of the company’s stock in a deal that was recorded on Jun 05. The shares were price at an average price of 200.00 per share, with a total market value of 1,000,000. In the last 6 months, insiders have changed their ownership in shares of company stock by 1.50%.
3 out of 11 analysts covering the stock have rated it a Buy, while 6 have maintained a Hold recommendation on RenaissanceRe Holdings Ltd.. 1 analysts has assigned a Sell rating on the RNR stock. The 12-month mean consensus price target for the company’s shares has been set at $191.75.