Renasant Corp (NYSE: RNST) has reported earnings for its second fiscal quarter (ending June 30) of $0.69 versus $0.51 for the same period a year ago — an increase of 35%. This result exceeded the consensus estimate of $0.66 by $0.03. For the latest four quarters through June 30, E.P.S. were $2.64 versus $2.99 for the same period a year ago — a decline of -12%.
Recent Price Action
On 7/23/24, Renasant Corp (NYSE: RNST) stock increased 1.2%, closing at $36.70. Moreover, trading volume in this advance was unusually high at 156% of normal. The stock has performed in line with the market over the last nine months and has risen 9.4% during the last week.
Current PriceTarget Research Rating
RNST is expected to continue to be a modest Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Renasant has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Renasant has a neutral Power Rating of 50 but a good Appreciation Score of 78, leading to the Positive Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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