Roth Capital Analysts Increase Earnings Estimates for ReNew Energy Global Plc (NASDAQ:RNW)

ReNew Energy Global Plc (NASDAQ:RNW) – Research analysts at Roth Capital boosted their FY2024 earnings per share estimates for shares of ReNew Energy Global in a report released on Wednesday, April 10th. Roth Capital analyst J. Clare now expects that the company will earn ($0.02) per share for the year, up from their previous forecast of ($0.10). The consensus estimate for ReNew Energy Global’s current full-year earnings is $0.04 per share. Roth Capital also issued estimates for ReNew Energy Global’s Q4 2024 earnings at ($0.11) EPS, Q3 2025 earnings at ($0.15) EPS and FY2025 earnings at ($0.02) EPS.

Several other analysts have also recently issued reports on the company. The Goldman Sachs Group raised their target price on ReNew Energy Global from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Mizuho boosted their price objective on shares of ReNew Energy Global from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Finally, Roth Mkm decreased their price objective on shares of ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $8.35.

ReNew Energy Global Trading Down 1.1 %

Shares of RNW stock opened at $5.32 on Monday. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.84 and a current ratio of 0.85. ReNew Energy Global has a 52-week low of $4.78 and a 52-week high of $7.79. The company has a market capitalization of $1.98 billion, a PE ratio of 53.20 and a beta of 0.91. The business’s fifty day moving average is $6.21 and its 200 day moving average is $6.34.

ReNew Energy Global (NASDAQ:RNW) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). ReNew Energy Global had a net margin of 3.61% and a return on equity of 2.96%. The firm had revenue of $232.00 million for the quarter, compared to the consensus estimate of $195.90 million. During the same period last year, the company posted ($0.15) earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC purchased a new stake in shares of ReNew Energy Global during the first quarter worth about $275,000. TT International Asset Management LTD purchased a new stake in ReNew Energy Global during the 4th quarter valued at about $2,097,000. Syon Capital LLC grew its stake in ReNew Energy Global by 89.4% during the 4th quarter. Syon Capital LLC now owns 32,395 shares of the company’s stock valued at $248,000 after acquiring an additional 15,295 shares in the last quarter. FIL Ltd grew its stake in ReNew Energy Global by 47.7% during the 4th quarter. FIL Ltd now owns 457,609 shares of the company’s stock valued at $3,505,000 after acquiring an additional 147,838 shares in the last quarter. Finally, Sylebra Capital LLC grew its stake in ReNew Energy Global by 1.5% during the 4th quarter. Sylebra Capital LLC now owns 2,610,337 shares of the company’s stock valued at $19,995,000 after acquiring an additional 39,110 shares in the last quarter. 43.56% of the stock is currently owned by institutional investors and hedge funds.

About ReNew Energy Global

ReNew Energy Global Plc generates power through non-conventional and renewable energy sources in India. The company operates through two segments: Wind Power and Solar Power. It develops, builds, owns, and operates utility scale wind and solar energy, hydro energy, and utility-scale firm power projects, as well as distributed solar energy projects that generate energy for commercial and industrial customers.