RenaissanceRe (RNR) is a Top-Ranked Growth Stock: Should You Buy?
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Why This 1 Growth Stock Should Be On Your Watchlist
Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
RenaissanceRe (RNR)
Founded in 1993 and based in Pembroke, 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 B and VGM Score of A. Earnings are expected to grow 365.5% year-over-year for the current fiscal year, with sales growth of 19.9%.
Four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $4.66 to $33.98 per share for 2023. RNR boasts an average earnings surprise of 16.5%.
Looking at cash flow, RenaissanceRe is expected to report cash flow growth of 245.1% this year; RNR has generated cash flow growth of 25.9% over the past three to five years.
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
