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Analysts on Wall Street project that RenaissanceRe (RNR) will announce quarterly loss of $0.23 per share in its forthcoming report, representing a decline of 101.9% year over year. Revenues are projected to reach $2.9 billion, increasing 2.4% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone an upward revision of 1.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some RenaissanceRe metrics that are commonly tracked and projected by analysts on Wall Street.
The combined assessment of analysts suggests that 'Revenues- Net premiums earned' will likely reach $2.47 billion. The estimate suggests a change of +1.3% year over year.
The average prediction of analysts places 'Revenues- Equity in earnings (losses) of other ventures' at $9.43 million. The estimate points to a change of -33.3% from the year-ago quarter.
Analysts forecast 'Revenues- Net investment income' to reach $428.77 million. The estimate points to a change of +9.7% from the year-ago quarter.
It is projected by analysts that the 'Net premiums earned- Property' will reach $956.47 million. The estimate points to a change of +2.2% from the year-ago quarter.
Analysts predict that the 'Underwriting Expense Ratio - Casualty and Specialty' will reach 32.4%. The estimate compares to the year-ago value of 32.5%.
According to the collective judgment of analysts, 'Net Claims and Claim Expense Ratio - calendar year' should come in at 82.9%. The estimate is in contrast to the year-ago figure of 47.7%.
The consensus among analysts is that 'Underwriting Expense Ratio' will reach 30.2%. The estimate is in contrast to the year-ago figure of 30.2%.
Based on the collective assessment of analysts, 'Net Claims and Claim Expense Ratio - calendar year - Casualty and Specialty' should arrive at 71.4%. The estimate compares to the year-ago value of 67.1%.