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Is RenaissanceRe (RNR) a Great Value Stock Right Now?
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Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.
Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.
Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.
One company value investors might notice is RenaissanceRe (RNR - Free Report) . RNR is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock has a Forward P/E ratio of 11.78. This compares to its industry's average Forward P/E of 26.78. Over the past year, RNR's Forward P/E has been as high as 19.77 and as low as -14.39, with a median of 12.42.
We also note that RNR holds a PEG ratio of 1.24. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. RNR's PEG compares to its industry's average PEG of 3.05. RNR's PEG has been as high as 2.08 and as low as -1.51, with a median of 1.31, all within the past year.
We should also highlight that RNR has a P/B ratio of 1.27. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. RNR's current P/B looks attractive when compared to its industry's average P/B of 1.45. Within the past 52 weeks, RNR's P/B has been as high as 1.41 and as low as 1.15, with a median of 1.28.
Value investors will likely look at more than just these metrics, but the above data helps show that RenaissanceRe is likely undervalued currently. And when considering the strength of its earnings outlook, RNR sticks out at as one of the market's strongest value stocks.
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Is RenaissanceRe (RNR) a Great Value Stock Right Now?
Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.
Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.
Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.
One company value investors might notice is RenaissanceRe (RNR - Free Report) . RNR is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock has a Forward P/E ratio of 11.78. This compares to its industry's average Forward P/E of 26.78. Over the past year, RNR's Forward P/E has been as high as 19.77 and as low as -14.39, with a median of 12.42.
We also note that RNR holds a PEG ratio of 1.24. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. RNR's PEG compares to its industry's average PEG of 3.05. RNR's PEG has been as high as 2.08 and as low as -1.51, with a median of 1.31, all within the past year.
We should also highlight that RNR has a P/B ratio of 1.27. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. RNR's current P/B looks attractive when compared to its industry's average P/B of 1.45. Within the past 52 weeks, RNR's P/B has been as high as 1.41 and as low as 1.15, with a median of 1.28.
Value investors will likely look at more than just these metrics, but the above data helps show that RenaissanceRe is likely undervalued currently. And when considering the strength of its earnings outlook, RNR sticks out at as one of the market's strongest value stocks.