$152.15 Million in Sales Expected for Renasant Corp. (RNST) This Quarter

Analysts expect Renasant Corp. (NASDAQ:RNST) to post $152.15 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Renasant’s earnings, with the highest sales estimate coming in at $152.40 million and the lowest estimate coming in at $151.90 million. Renasant reported sales of $125.70 million in the same quarter last year, which would indicate a positive year over year growth rate of 21%. The business is expected to announce its next earnings results on Tuesday, January 15th.

On average, analysts expect that Renasant will report full year sales of $541.00 million for the current fiscal year, with estimates ranging from $540.90 million to $541.10 million. For the next year, analysts anticipate that the company will report sales of $623.25 million, with estimates ranging from $616.10 million to $630.40 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Renasant.

Renasant (NASDAQ:RNST) last posted its quarterly earnings data on Monday, October 22nd. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. The firm had revenue of $138.90 million during the quarter, compared to analyst estimates of $142.06 million. Renasant had a return on equity of 9.37% and a net margin of 20.84%. Renasant’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS.

RNST has been the subject of several analyst reports. Stephens set a $50.00 price objective on Renasant and gave the stock a “hold” rating in a research note on Tuesday, October 23rd. Zacks Investment Research raised shares of Renasant from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Raymond James downgraded shares of Renasant from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 10th. BidaskClub raised shares of Renasant from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 24th. Finally, ValuEngine downgraded shares of Renasant from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Renasant presently has a consensus rating of “Hold” and an average target price of $47.20.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RNST. First Quadrant L P CA bought a new position in shares of Renasant during the 3rd quarter valued at about $124,000. Adviser Investments LLC bought a new position in shares of Renasant during the 2nd quarter valued at about $147,000. Zeke Capital Advisors LLC bought a new position in shares of Renasant during the 2nd quarter valued at about $211,000. Green Square Capital LLC bought a new position in shares of Renasant during the 2nd quarter valued at about $221,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Renasant during the 1st quarter valued at about $270,000. 67.85% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:RNST traded up $0.02 during midday trading on Friday, hitting $35.65. The company had a trading volume of 2,491 shares, compared to its average volume of 245,542. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.92. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 14.74 and a beta of 1.01. Renasant has a 12-month low of $32.01 and a 12-month high of $49.78.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Tuesday, December 18th will be issued a $0.21 dividend. The ex-dividend date is Monday, December 17th. This represents a $0.84 annualized dividend and a yield of 2.36%. This is an increase from Renasant’s previous quarterly dividend of $0.20. Renasant’s dividend payout ratio is currently 33.06%.

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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