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RenaissanceRe (RNR) Q3 Earnings Preview: What You Should Know Beyond the Headline Estimates
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Wall Street analysts expect RenaissanceRe (RNR - Free Report) to post quarterly earnings of $7.89 per share in its upcoming report, which indicates a year-over-year decline of 5.3%. Revenues are expected to be $2.9 billion, up 40.5% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 2.6% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some RenaissanceRe metrics that Wall Street analysts commonly model and monitor.
The collective assessment of analysts points to an estimated 'Revenues- Net premiums earned' of $2.48 billion. The estimate points to a change of +41.4% from the year-ago quarter.
The average prediction of analysts places 'Revenues- Net investment income' at $416.60 million. The estimate points to a change of +26.6% from the year-ago quarter.
The consensus among analysts is that 'Net premiums earned- Property' will reach $938.74 million. The estimate suggests a change of +23.5% year over year.
Analysts forecast 'Net premiums earned- Casualty and Specialty' to reach $1.53 billion. The estimate indicates a change of +53.3% from the prior-year quarter.
Analysts predict that the 'Net Claims and Claim Expense Ratio' will reach 61.1%. The estimate compares to the year-ago value of 49.1%.
Analysts' assessment points toward 'Underwriting Expense Ratio' reaching 30.1%. The estimate compares to the year-ago value of 28.9%.
It is projected by analysts that the 'Combined Ratio' will reach 91.2%. The estimate is in contrast to the year-ago figure of 78%.
The combined assessment of analysts suggests that 'Net Claims and Claim Expense Ratio - calendar year - Casualty and Specialty Segment' will likely reach 65.1%. Compared to the present estimate, the company reported 65.8% in the same quarter last year.
Based on the collective assessment of analysts, 'Underwriting Expense Ratio - Casualty and Specialty Segment' should arrive at 32.1%. Compared to the present estimate, the company reported 31.2% in the same quarter last year.
Analysts expect 'Combined Ratio - Casualty and Specialty Segment' to come in at 97.2%. The estimate compares to the year-ago value of 97%.
The consensus estimate for 'Underwriting Expense Ratio - Property Segment' stands at 26.3%. Compared to the current estimate, the company reported 26.1% in the same quarter of the previous year.
Over the past month, shares of RenaissanceRe have returned -5.6% versus the Zacks S&P 500 composite's +0.4% change. Currently, RNR carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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RenaissanceRe (RNR) Q3 Earnings Preview: What You Should Know Beyond the Headline Estimates
Wall Street analysts expect RenaissanceRe (RNR - Free Report) to post quarterly earnings of $7.89 per share in its upcoming report, which indicates a year-over-year decline of 5.3%. Revenues are expected to be $2.9 billion, up 40.5% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 2.6% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some RenaissanceRe metrics that Wall Street analysts commonly model and monitor.
The collective assessment of analysts points to an estimated 'Revenues- Net premiums earned' of $2.48 billion. The estimate points to a change of +41.4% from the year-ago quarter.
The average prediction of analysts places 'Revenues- Net investment income' at $416.60 million. The estimate points to a change of +26.6% from the year-ago quarter.
The consensus among analysts is that 'Net premiums earned- Property' will reach $938.74 million. The estimate suggests a change of +23.5% year over year.
Analysts forecast 'Net premiums earned- Casualty and Specialty' to reach $1.53 billion. The estimate indicates a change of +53.3% from the prior-year quarter.
Analysts predict that the 'Net Claims and Claim Expense Ratio' will reach 61.1%. The estimate compares to the year-ago value of 49.1%.
Analysts' assessment points toward 'Underwriting Expense Ratio' reaching 30.1%. The estimate compares to the year-ago value of 28.9%.
It is projected by analysts that the 'Combined Ratio' will reach 91.2%. The estimate is in contrast to the year-ago figure of 78%.
The combined assessment of analysts suggests that 'Net Claims and Claim Expense Ratio - calendar year - Casualty and Specialty Segment' will likely reach 65.1%. Compared to the present estimate, the company reported 65.8% in the same quarter last year.
Based on the collective assessment of analysts, 'Underwriting Expense Ratio - Casualty and Specialty Segment' should arrive at 32.1%. Compared to the present estimate, the company reported 31.2% in the same quarter last year.
Analysts expect 'Combined Ratio - Casualty and Specialty Segment' to come in at 97.2%. The estimate compares to the year-ago value of 97%.
The consensus estimate for 'Underwriting Expense Ratio - Property Segment' stands at 26.3%. Compared to the current estimate, the company reported 26.1% in the same quarter of the previous year.
View all Key Company Metrics for RenaissanceRe here>>>
Over the past month, shares of RenaissanceRe have returned -5.6% versus the Zacks S&P 500 composite's +0.4% change. Currently, RNR carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>