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Here's Why RenaissanceRe (RNR) is a Strong Growth Stock

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Why This 1 Growth Stock Should Be On Your Watchlist

Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

RenaissanceRe (RNR)

Founded in 1993 and based in Pembroke, Bermuda, RenaissanceRe Holdings Ltd. primarily provides property-catastrophe reinsurance to insurers and reinsurers globally on the basis of excess of loss (coverage of losses over a specified limit). Additionally, RenaissanceRe provides certain specialty reinsurance coverage on accident, health, aviation and satellite concerns, as well as homeowners' insurance in various parts of the U.S. The company also writes specialty and catastrophe reinsurance through two joint ventures, Top Layer Re and Reinsurance, and through certain specialty reinsurance and primary insurance lines.

RNR sits at a Zacks Rank #2 (Buy), holds a Growth Style Score of B, and has a VGM Score of A. Earnings and sales are forecasted to increase 364.4% and 14.9% year-over-year, respectively.

Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $7.10 to $33.90 per share. RNR boasts an average earnings surprise of 16.5%.

RenaissanceRe is also cash rich. The company has generated cash flow growth of 25.9%, and is expected to report cash flow expansion of 245.1% in 2023.

Investors should take the time to consider RNR for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.

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RenaissanceRe Holdings Ltd. (RNR) : Free Stock Analysis Report

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Zacks Investment Research