RenaissanceRe Holdings Ltd (NYSE: RNR) has reported earnings for its first fiscal quarter (ending March 31) of $6.96 versus $12.95 for the same period a year ago — a decline of -46%. Relative to the consensus estimate of $9.85, this was a shortfall of $-2.89. For the latest four quarters through March 31, E.P.S. were $45.38 compared to $-3.55 a year ago.
Recent Price Action
RenaissanceRe Holdings Ltd (NYSE: RNR) stock closed at $219.25 on 4/30/24 after a modest decline of -1.1%. Moreover, this decline was accompanied by exceptionally high trading volume at 224% of normal. The stock has declined -3.3% during the last week but has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, RNR is expected to continue to be a Value Builder.
RenaissanceRE Holdings has a current Value Trend Rating of A (Highest Rating). This rating combines highly consistent signals from two proprietary PTR measures of a stock’s attractiveness. RenaissanceRE Holdings has a good Power Rating of 83 and a very high Appreciation Score of 86, and the Highest Value Trend Rating results.
Rating Review
In light of this new information we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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