Equities Analysts Set Expectations for ReNew Energy Global Plc’s FY2023 Earnings (NASDAQ:RNW)

Posted by Defense World Staff on May 25th, 2023

ReNew Energy Global Plc (NASDAQ:RNW – Get Rating) – Seaport Res Ptn reduced their FY2023 earnings estimates for shares of ReNew Energy Global in a research report issued to clients and investors on Tuesday, May 23rd. Seaport Res Ptn analyst A. Storozynski now forecasts that the company will earn ($0.36) per share for the year, down from their prior estimate of ($0.12). The consensus estimate for ReNew Energy Global’s current full-year earnings is ($0.18) per share. Seaport Res Ptn also issued estimates for ReNew Energy Global’s FY2024 earnings at ($0.39) EPS and FY2025 earnings at ($0.07) EPS.

Separately, Credit Suisse Group raised shares of ReNew Energy Global from a “neutral” rating to an “outperform” rating in a research report on Monday, May 15th.

ReNew Energy Global Trading Down 0.9 %

RNW stock opened at $5.63 on Thursday. The company has a debt-to-equity ratio of 3.62, a quick ratio of 1.00 and a current ratio of 1.01. The company’s fifty day simple moving average is $5.33 and its 200 day simple moving average is $5.53. ReNew Energy Global has a 12-month low of $4.03 and a 12-month high of $7.70.

Institutional Trading of ReNew Energy Global

A number of hedge funds have recently bought and sold shares of RNW. Envestnet Asset Management Inc. bought a new stake in shares of ReNew Energy Global during the 1st quarter worth $93,000. JPMorgan Chase & Co. raised its position in ReNew Energy Global by 2,782.7% in the first quarter. JPMorgan Chase & Co. now owns 133,788 shares of the company’s stock worth $1,100,000 after acquiring an additional 129,147 shares during the period. Sei Investments Co. bought a new stake in ReNew Energy Global in the first quarter worth about $115,000. First Trust Advisors LP boosted its stake in ReNew Energy Global by 665.4% in the first quarter. First Trust Advisors LP now owns 2,738,862 shares of the company’s stock valued at $22,513,000 after acquiring an additional 2,381,013 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of ReNew Energy Global by 276.5% during the 1st quarter. Renaissance Technologies LLC now owns 80,200 shares of the company’s stock valued at $659,000 after acquiring an additional 58,900 shares during the period. 45.89% of the stock is currently owned by institutional investors.

About ReNew Energy Global

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