FY2024 EPS Estimates for ReNew Energy Global Plc Lifted by Analyst (NASDAQ:RNW)

ReNew Energy Global Plc (NASDAQ:RNW) – Equities researchers at Roth Capital lifted their FY2024 earnings estimates for ReNew Energy Global in a research report issued on Wednesday, April 10th. Roth Capital analyst J. Clare now expects that the company will post earnings of ($0.02) per share for the year, up from their prior estimate of ($0.10). The consensus estimate for ReNew Energy Global’s current full-year earnings is $0.04 per share. Roth Capital also issued estimates for ReNew Energy Global’s Q4 2024 earnings at ($0.11) EPS, Q3 2025 earnings at ($0.15) EPS and FY2025 earnings at ($0.02) EPS.

ReNew Energy Global (NASDAQ:RNW) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). ReNew Energy Global had a net margin of 3.61% and a return on equity of 2.96%. The business had revenue of $232.00 million for the quarter, compared to analysts’ expectations of $195.90 million. During the same period in the prior year, the company posted ($0.15) EPS.

A number of other equities analysts have also recently weighed in on the stock. Mizuho increased their price objective on shares of ReNew Energy Global from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. The Goldman Sachs Group increased their price objective on shares of ReNew Energy Global from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Finally, Roth Mkm decreased their price target on shares of ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $8.35.

ReNew Energy Global Stock Performance

ReNew Energy Global stock opened at $5.38 on Monday. The firm has a 50 day simple moving average of $6.23 and a 200-day simple moving average of $6.34. ReNew Energy Global has a 1-year low of $4.78 and a 1-year high of $7.79. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 53.80 and a beta of 0.91.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. State of Wyoming purchased a new stake in ReNew Energy Global during the fourth quarter worth about $28,000. Quantbot Technologies LP raised its position in ReNew Energy Global by 556.4% during the second quarter. Quantbot Technologies LP now owns 4,595 shares of the company’s stock worth $29,000 after acquiring an additional 3,895 shares during the last quarter. Pale Fire Capital SE acquired a new position in shares of ReNew Energy Global in the third quarter valued at approximately $54,000. Citigroup Inc. acquired a new position in shares of ReNew Energy Global in the second quarter valued at approximately $55,000. Finally, Legal & General Group Plc increased its position in ReNew Energy Global by 287.0% during the third quarter. Legal & General Group Plc now owns 10,677 shares of the company’s stock worth $58,000 after purchasing an additional 7,918 shares during the last quarter. 43.56% of the stock is currently owned by institutional investors and hedge funds.

ReNew Energy Global Company Profile

ReNew Energy Global Plc generates power through non-conventional and renewable energy sources in India. The company operates through two segments: Wind Power and Solar Power. It develops, builds, owns, and operates utility scale wind and solar energy, hydro energy, and utility-scale firm power projects, as well as distributed solar energy projects that generate energy for commercial and industrial customers.