Renasant Corp. (NASDAQ:RNST) Expected to Announce Earnings of $0.65 Per Share

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Analysts predict that Renasant Corp. (NASDAQ:RNST) will report $0.65 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Renasant’s earnings. Renasant reported earnings of $0.78 per share in the same quarter last year, which indicates a negative year over year growth rate of 16.7%. The company is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, January 21st.

On average, analysts expect that Renasant will report full-year earnings of $2.86 per share for the current fiscal year, with EPS estimates ranging from $2.85 to $2.86. For the next fiscal year, analysts expect that the company will post earnings of $2.67 per share, with EPS estimates ranging from $2.60 to $2.73. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Renasant.

Renasant (NASDAQ:RNST) last issued its quarterly earnings results on Monday, October 21st. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). The business had revenue of $146.78 million for the quarter, compared to analysts’ expectations of $151.37 million. Renasant had a return on equity of 8.53% and a net margin of 24.85%. During the same quarter in the prior year, the company posted $0.78 EPS.

Several equities research analysts recently commented on RNST shares. Stephens boosted their price target on shares of Renasant from $34.00 to $38.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. BidaskClub cut shares of Renasant from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 31st. Sandler O’Neill downgraded shares of Renasant from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. ValuEngine upgraded shares of Renasant from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Zacks Investment Research cut shares of Renasant from a “buy” rating to a “hold” rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Renasant presently has a consensus rating of “Hold” and an average price target of $37.80.

RNST stock traded up $0.59 during mid-day trading on Friday, reaching $35.53. 138,332 shares of the company’s stock were exchanged, compared to its average volume of 213,256. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 11.84 and a beta of 1.21. The stock’s 50 day moving average is $35.59 and its 200 day moving average is $34.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.92. Renasant has a 12-month low of $31.46 and a 12-month high of $39.02.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Wednesday, December 18th were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.88 annualized dividend and a dividend yield of 2.48%. Renasant’s dividend payout ratio (DPR) is presently 29.33%.

In other Renasant news, EVP James W. Gray sold 2,500 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $34.57, for a total value of $86,425.00. Following the transaction, the executive vice president now owns 55,472 shares in the company, valued at approximately $1,917,667.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.64% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Private Capital Group LLC purchased a new position in Renasant during the second quarter worth approximately $30,000. HM Payson & Co. acquired a new stake in Renasant during the second quarter worth about $32,000. North Star Investment Management Corp. acquired a new stake in Renasant during the third quarter worth about $40,000. Tower Research Capital LLC TRC acquired a new stake in Renasant during the third quarter worth about $40,000. Finally, Quantamental Technologies LLC purchased a new position in Renasant during the second quarter worth about $59,000. Hedge funds and other institutional investors own 63.59% of the company’s stock.

About Renasant

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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