Brokerages expect that Renasant Corporation (NASDAQ:RNST) will report sales of $126.97 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Renasant Corporation’s earnings, with the highest sales estimate coming in at $128.70 million and the lowest estimate coming in at $125.00 million. Renasant Corporation reported sales of $114.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.4%. The business is scheduled to issue its next quarterly earnings report on Tuesday, October 17th.

On average, analysts expect that Renasant Corporation will report full year sales of $126.97 million for the current fiscal year, with estimates ranging from $469.80 million to $479.40 million. For the next fiscal year, analysts anticipate that the firm will post sales of $525.97 million per share, with estimates ranging from $518.60 million to $534.40 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Renasant Corporation.

Renasant Corporation (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.04. The company had revenue of $113.87 million during the quarter, compared to the consensus estimate of $112.43 million. Renasant Corporation had a return on equity of 8.41% and a net margin of 20.31%. During the same period last year, the business posted $0.59 earnings per share.

Several equities research analysts have recently commented on RNST shares. Zacks Investment Research upgraded Renasant Corporation from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Tuesday, July 4th. ValuEngine upgraded Renasant Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Jefferies Group LLC restated a “hold” rating and issued a $44.00 price objective on shares of Renasant Corporation in a research note on Friday, June 9th. Keefe, Bruyette & Woods set a $43.00 price objective on Renasant Corporation and gave the stock a “hold” rating in a research note on Saturday, May 27th. Finally, BidaskClub lowered Renasant Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.50.

Shares of Renasant Corporation (RNST) opened at 40.58 on Tuesday. Renasant Corporation has a 12 month low of $32.51 and a 12 month high of $45.31. The company’s 50 day moving average price is $42.58 and its 200-day moving average price is $41.54. The stock has a market capitalization of $2.00 billion, a P/E ratio of 18.30 and a beta of 1.04.

In other Renasant Corporation news, Director Albert J. Dale III sold 15,000 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $42.54, for a total value of $638,100.00. Following the completion of the sale, the director now owns 25,620 shares in the company, valued at approximately $1,089,874.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James W. Gray sold 5,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $39.94, for a total value of $199,700.00. Following the completion of the sale, the executive vice president now owns 43,604 shares of the company’s stock, valued at approximately $1,741,543.76. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 9,023 shares of company stock valued at $375,621 and sold 25,000 shares valued at $1,052,800. Corporate insiders own 3.86% of the company’s stock.

A number of large investors have recently modified their holdings of RNST. Teachers Advisors LLC raised its stake in shares of Renasant Corporation by 2.1% in the fourth quarter. Teachers Advisors LLC now owns 67,190 shares of the financial services provider’s stock worth $2,837,000 after buying an additional 1,358 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of Renasant Corporation by 3.3% in the first quarter. Nationwide Fund Advisors now owns 31,929 shares of the financial services provider’s stock worth $1,267,000 after buying an additional 1,020 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Renasant Corporation by 55.9% in the first quarter. Fisher Asset Management LLC now owns 53,258 shares of the financial services provider’s stock worth $2,114,000 after buying an additional 19,093 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Renasant Corporation by 139.5% in the first quarter. Russell Investments Group Ltd. now owns 32,310 shares of the financial services provider’s stock worth $1,283,000 after buying an additional 18,818 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Renasant Corporation by 49.1% in the first quarter. Wells Fargo & Company MN now owns 956,436 shares of the financial services provider’s stock worth $37,962,000 after buying an additional 315,049 shares during the last quarter. Institutional investors and hedge funds own 66.33% of the company’s stock.

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About Renasant Corporation

Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc (Renasant Insurance). The Company’s segments include Community Banks, which delivers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities; Insurance, which includes a full service insurance agency offering all lines of commercial and personal insurance through major carriers; Wealth Management, which offers a range of fiduciary services that includes the administration and management of trust accounts, including personal and corporate benefit accounts, and custodial accounts, and Other.

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Earnings History and Estimates for Renasant Corporation (NASDAQ:RNST)

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