Brokerages Expect Renasant Co. (NASDAQ:RNST) Will Post Earnings of $0.63 Per Share

Equities research analysts expect that Renasant Co. (NASDAQ:RNSTGet Rating) will announce $0.63 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Renasant’s earnings. The highest EPS estimate is $0.67 and the lowest is $0.60. Renasant posted earnings of $0.73 per share during the same quarter last year, which indicates a negative year over year growth rate of 13.7%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Renasant will report full year earnings of $2.69 per share for the current financial year, with EPS estimates ranging from $2.58 to $2.80. For the next year, analysts anticipate that the firm will post earnings of $2.93 per share, with EPS estimates ranging from $2.85 to $3.00. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Renasant.

Renasant (NASDAQ:RNSTGet Rating) last released its quarterly earnings results on Tuesday, April 26th. The financial services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $137.09 million for the quarter, compared to analyst estimates of $143.48 million. Renasant had a net margin of 23.66% and a return on equity of 7.01%. During the same quarter last year, the business earned $0.85 earnings per share.

Several equities analysts have issued reports on RNST shares. DA Davidson raised shares of Renasant from a “neutral” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Thursday, February 24th. StockNews.com started coverage on shares of Renasant in a report on Thursday, March 31st. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.33.

RNST stock traded up $0.28 during midday trading on Friday, hitting $29.95. 261,703 shares of the stock traded hands, compared to its average volume of 227,201. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.85 and a quick ratio of 0.83. The firm has a market cap of $1.67 billion, a P/E ratio of 11.13 and a beta of 1.11. Renasant has a 1-year low of $28.64 and a 1-year high of $45.40. The stock’s fifty day simple moving average is $32.23 and its 200-day simple moving average is $35.69.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Wednesday, June 15th. Renasant’s dividend payout ratio is currently 32.71%.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Renasant by 2.5% in the first quarter. Vanguard Group Inc. now owns 6,153,599 shares of the financial services provider’s stock worth $205,838,000 after buying an additional 149,653 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Renasant by 1.1% in the fourth quarter. Victory Capital Management Inc. now owns 4,207,280 shares of the financial services provider’s stock worth $159,666,000 after buying an additional 45,008 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Renasant by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,762,166 shares of the financial services provider’s stock worth $135,627,000 after buying an additional 11,119 shares in the last quarter. State Street Corp lifted its stake in shares of Renasant by 10.8% in the first quarter. State Street Corp now owns 2,908,644 shares of the financial services provider’s stock worth $97,294,000 after buying an additional 282,738 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its stake in shares of Renasant by 1.5% in the first quarter. Westwood Holdings Group Inc. now owns 1,792,917 shares of the financial services provider’s stock worth $59,973,000 after buying an additional 26,806 shares in the last quarter. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

About Renasant (Get Rating)

Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and equipment leasing services, as well as safe deposit and night depository facilities.

Further Reading

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Earnings History and Estimates for Renasant (NASDAQ:RNST)

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