Renasant (NASDAQ:RNST) Announces Earnings Results, Beats Estimates By $0.03 EPS

Renasant (NASDAQ:RNST) released its earnings results on Tuesday. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03, Briefing.com reports. Renasant had a return on equity of 7.03% and a net margin of 15.04%. The firm had revenue of $163.79 million during the quarter, compared to analyst estimates of $166.05 million. During the same period last year, the business posted $0.83 earnings per share. Renasant’s revenue was up 11.1% compared to the same quarter last year.

Renasant Stock Performance

Shares of RNST traded down $0.63 during midday trading on Thursday, reaching $35.28. 77,104 shares of the stock were exchanged, compared to its average volume of 239,529. The business’s 50-day moving average price is $30.75 and its 200 day moving average price is $30.77. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.92. Renasant has a twelve month low of $22.99 and a twelve month high of $37.40. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 14.47 and a beta of 1.03.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RNST shares. Keefe, Bruyette & Woods raised their price target on Renasant from $34.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday. Truist Financial cut their price target on Renasant from $33.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, July 8th. Hovde Group cut Renasant from an “outperform” rating to a “market perform” rating and raised their price target for the company from $36.00 to $38.00 in a research note on Thursday. StockNews.com upgraded Renasant from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th. Finally, Piper Sandler reiterated a “neutral” rating and set a $33.00 target price on shares of Renasant in a research report on Wednesday, July 3rd. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Renasant has an average rating of “Hold” and a consensus target price of $35.20.

Renasant Company Profile

Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.