Analysts expect Renasant Corp. (NASDAQ:RNST) to post $137.70 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Renasant’s earnings, with estimates ranging from $136.60 million to $138.80 million. Renasant reported sales of $123.43 million in the same quarter last year, which would suggest a positive year over year growth rate of 11.6%. The business is scheduled to report its next earnings results after the market closes on Monday, October 22nd.

On average, analysts expect that Renasant will report full year sales of $543.75 million for the current financial year, with estimates ranging from $542.80 million to $544.70 million. For the next financial year, analysts expect that the firm will report sales of $641.35 million, with estimates ranging from $633.10 million to $649.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Renasant.

Renasant (NASDAQ:RNST) last posted its earnings results on Tuesday, July 17th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.74. The business had revenue of $127.97 million for the quarter, compared to analysts’ expectations of $127.80 million. Renasant had a net margin of 20.66% and a return on equity of 8.73%. During the same quarter in the prior year, the business earned $0.57 EPS.

Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Renasant from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. ValuEngine cut shares of Renasant from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. BidaskClub cut shares of Renasant from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 1st. Raymond James cut shares of Renasant from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 10th. Finally, Stephens reiterated a “hold” rating and issued a $50.00 price objective on shares of Renasant in a research note on Monday, August 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.20.

In other Renasant news, Director Michael D. Shmerling acquired 1,000 shares of the stock in a transaction dated Friday, August 3rd. The shares were purchased at an average price of $45.00 per share, for a total transaction of $45,000.00. Following the purchase, the director now directly owns 159,357 shares of the company’s stock, valued at $7,171,065. The acquisition was disclosed in a filing with the SEC, which is available at this link. 3.41% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its stake in shares of Renasant by 5.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 230,948 shares of the financial services provider’s stock worth $10,513,000 after purchasing an additional 12,480 shares during the period. GSA Capital Partners LLP raised its stake in Renasant by 47.1% during the 2nd quarter. GSA Capital Partners LLP now owns 29,281 shares of the financial services provider’s stock worth $1,333,000 after acquiring an additional 9,376 shares during the period. Russell Investments Group Ltd. raised its stake in Renasant by 38.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 52,067 shares of the financial services provider’s stock worth $2,371,000 after acquiring an additional 14,494 shares during the period. California Public Employees Retirement System raised its stake in Renasant by 18.6% during the 1st quarter. California Public Employees Retirement System now owns 79,785 shares of the financial services provider’s stock worth $3,396,000 after acquiring an additional 12,495 shares during the period. Finally, Green Square Capital LLC bought a new stake in Renasant during the 2nd quarter worth approximately $221,000. Hedge funds and other institutional investors own 67.72% of the company’s stock.

RNST traded down $0.40 during midday trading on Thursday, hitting $37.51. 187,600 shares of the company traded hands, compared to its average volume of 163,274. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.92 and a current ratio of 0.95. The stock has a market capitalization of $2.04 billion, a P/E ratio of 15.43 and a beta of 0.87. Renasant has a 52 week low of $36.70 and a 52 week high of $49.78.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Thursday, September 13th. Renasant’s dividend payout ratio (DPR) is presently 33.06%.

Renasant Company Profile

Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.

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Earnings History and Estimates for Renasant (NASDAQ:RNST)

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