UBS AG Gives Buy Rating to RenaissanceRe Holdings (RNR)

By admin | 6 years ago

RenaissanceRe Holdings (NYSE: RNR)‘s stock had its “buy” rating restated by equities researchers at UBS AG (NYSE: UBS) in a report issued on Thursday.

Shares of RenaissanceRe Holdings traded up 0.75% during mid-day trading on Thursday, hitting $79.55. RenaissanceRe Holdings has a 52 week low of $59.50 and a 52 week high of $80.53. The company has a market cap of $4.007 billion and a P/E ratio of 11.56.

The company last announced its quarterly results on Wednesday, May 2nd. It reported $2.98 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $2.48 EPS 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 $1.33 earnings per share next quarter.

A number of other analysts have also recently weighed in on RNR. 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. Separately, analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of RenaissanceRe Holdings from $75.00 to $85.00 in a research note to investors on Monday, April 2nd. They now have an “equal weight” rating on the stock. Finally, analysts at Zacks upgraded shares of RenaissanceRe Holdings from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, February 22nd. They now have a $77.00 price target on the stock.

RenaissanceRe Holdings Ltd. (RenaissanceRe) is a provider of reinsurance and insurance coverages and related services.

About the author