Here's Why RenaissanceRe (RNR) is a Strong Growth Stock
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Why This 1 Growth Stock Should Be On Your Watchlist
Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
RenaissanceRe (RNR)
Founded in 1993 and based in Hamilton, Bermuda, RenaissanceRe Holdings Ltd. primarily provides property-catastrophe reinsurance to insurers and reinsurers globally on the basis of excess of loss (coverage of losses over a specified limit). Additionally, RenaissanceRe provides certain specialty reinsurance coverage on accident, health, aviation and satellite concerns, as well as homeowners' insurance in various parts of the U.S. The company also writes specialty and catastrophe reinsurance through two joint ventures, Top Layer Re and Reinsurance, and through certain specialty reinsurance and primary insurance lines.
RNR is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of A and VGM Score of A. Earnings are expected to grow 214.9% year-over-year for the current fiscal year, with sales growth of 13.5%.
Two analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.06 to $22.99 per share. RNR also boasts an average earnings surprise of 1.7%.
RenaissanceRe is also cash rich. The company has generated cash flow growth of 25.9%, and is expected to report cash flow expansion of 245.1% in 2023.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, RNR should be on investors' short lists.
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RenaissanceRe Holdings Ltd. (RNR) : Free Stock Analysis Report
