Analysts Update Their Price Forecasts For Renasant Corp. (RNST)

Renasant Corp. (RNST) concluded trading on Thursday at a closing price of $31.32, with 0.48 million shares of worth about $14.99 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 24.83% during that period and on March 28, 2024 the price saw a gain of about 0.68%. Currently the company’s common shares owned by public are about 56.14M shares, out of which, 54.35M shares are available for trading.

However, the stock later moved at a day high price of 31.63, or with a gain of 0.68%. Stock saw a price change of 3.81% in past 5 days and over the past one month there was a price change of 1.03%. Year-to-date (YTD), RNST shares are showing a performance of -7.01% which increased to 0.22% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $22.99 but also hit the highest price of $34.85 during that period. The average intraday trading volume for Renasant Corp. shares is 238.86K. The stock is currently trading 3.24% above its 20-day simple moving average (SMA20), while that difference is up 0.48% for SMA50 and it goes to 7.74% higher than SMA200.

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Renasant Corp. (NYSE: RNST) currently have 56.14M outstanding shares and institutions hold larger chunk of about 77.75% of that.

The stock has a current market capitalization of $1.76B and its 3Y-monthly beta is at 1.05. PE ratio of stock for trailing 12 months is 12.22, while it has posted earnings per share of $2.56 in the same period. Its PEG reads 1.22 while making debt-to-equity ratio of 0.34. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RNST, volatility over the week remained 2.93% while standing at 3.08% over the month.

Analysts are in expectations that Renasant Corp. (RNST) stock would likely to be making an EPS of $0.61 in the current quarter, while forecast for next quarter EPS is $0.64 and it is $2.76 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.55 which is $0.64 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.82 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 1.17% while it is estimated to increase by 6.63% in next year. EPS is likely to grow at an annualized rate of 10.00% for next 5-years, compared to annual growth of -1.69% made by the stock over the past 5-years.

Coverage by Raymond James stated Renasant Corp. (RNST) stock as an Outperform in their note to investors on October 27, 2022, suggesting a price target of $41 for the stock. On June 21, 2022, Hovde Group Upgrade their recommendations, while on February 24, 2022, DA Davidson Upgrade their ratings for the stock with a price target of $41. Stock get a Neutral rating from DA Davidson on September 15, 2020.

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