Renasant Corp. (NASDAQ:RNST) Expected to Post Earnings of $0.75 Per Share

Wall Street analysts expect that Renasant Corp. (NASDAQ:RNST) will post earnings of $0.75 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Renasant’s earnings, with estimates ranging from $0.73 to $0.76. Renasant reported earnings per share of $0.78 during the same quarter last year, which suggests a negative year over year growth rate of 3.8%. The firm is expected to report its next quarterly earnings results on Monday, October 28th.

According to Zacks, analysts expect that Renasant will report full-year earnings of $3.03 per share for the current year, with EPS estimates ranging from $3.00 to $3.08. For the next financial year, analysts forecast that the firm will post earnings of $3.07 per share, with EPS estimates ranging from $2.94 to $3.17. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Renasant.

Renasant (NASDAQ:RNST) last released its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. Renasant had a net margin of 24.65% and a return on equity of 8.69%. The company had revenue of $154.76 million during the quarter, compared to analyst estimates of $153.47 million. During the same quarter in the prior year, the business earned $0.74 earnings per share.

Several brokerages have recently weighed in on RNST. Zacks Investment Research downgraded shares of Renasant from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. BidaskClub upgraded shares of Renasant from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 12th. DA Davidson started coverage on shares of Renasant in a research note on Tuesday, August 20th. They issued a “neutral” rating and a $37.00 target price for the company. Finally, SunTrust Banks reduced their price objective on shares of Renasant from $37.00 to $36.00 and set a “hold” rating on the stock in a research note on Tuesday, August 27th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Renasant presently has an average rating of “Hold” and a consensus target price of $36.75.

Several large investors have recently modified their holdings of RNST. Private Capital Group LLC acquired a new stake in shares of Renasant during the second quarter worth $30,000. HM Payson & Co. acquired a new stake in shares of Renasant in the 2nd quarter worth about $32,000. Strs Ohio increased its holdings in shares of Renasant by 44.4% in the 2nd quarter. Strs Ohio now owns 1,300 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 400 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of Renasant in the 2nd quarter worth about $59,000. Finally, Smith Shellnut Wilson LLC ADV acquired a new stake in shares of Renasant in the 1st quarter worth about $222,000. 63.30% of the stock is currently owned by institutional investors.

Shares of Renasant stock traded down $0.22 during trading hours on Thursday, hitting $35.85. The company’s stock had a trading volume of 9,736 shares, compared to its average volume of 154,911. The company has a market capitalization of $2.13 billion, a PE ratio of 11.95 and a beta of 1.23. The business has a fifty day moving average of $33.57 and a 200 day moving average of $34.95. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.12. Renasant has a 1-year low of $28.02 and a 1-year high of $44.73.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.45%. Renasant’s dividend payout ratio (DPR) is 29.33%.

Renasant Company Profile

Renasant Corporation operates as a bank holding company for Renasant Bank, which 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, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.

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