Barclays Capital Raises RenaissanceRe Holdings to Overweight (RNR)
RenaissanceRe Holdings (NYSE: RNR) was upgraded by Barclays Capital (NYSE: BCS) from an “equal weight” rating to an “overweight” rating in a research note issued on Friday. The firm currently has a $95.00 price target on the stock, up from their previous price target of $85.00.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of RenaissanceRe Holdings in a research note to investors on Thursday. They now have a $82.00 price target on the stock. Separately, analysts at UBS AG (NYSE: UBS) reiterated a “buy” rating on shares of RenaissanceRe Holdings in a research note to investors on Thursday. Finally, analysts at Deutsche Bank (NYSE: DB) raised their price target on shares of RenaissanceRe Holdings to $69.00 in a research note to investors on Thursday, April 12nd.
Shares of RenaissanceRe Holdings traded up 0.28% during mid-day trading on Friday, hitting $79.62. RenaissanceRe Holdings has a 52 week low of $59.50 and a 52 week high of $79.11. The company has a market cap of $4.011 billion and a P/E ratio of 11.63.
RenaissanceRe Holdings last announced its earnings results on Wednesday, May 2nd. The company reported $2.98 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.48 by $0.50. The company’s quarterly revenue was down 8.0% on a year-over-year basis. On average, analysts predict that RenaissanceRe Holdings will post $1.39 earnings per share next quarter.
RenaissanceRe Holdings Ltd. (RenaissanceRe) is a provider of reinsurance and insurance coverages and related services.