ReNew Energy Global plc [RNW] stock is trading at $6.05, up 1.85%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The RNW shares have gain 2.89% over the last week, with a monthly amount drifted -5.47%, and not seem to be holding up well over a long-time horizon.
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On 20, February 2024, ReNew Announces Results for the Third Quarter and Nine Months of Fiscal Year 2024: Increases the bottom end of Adjusted EBITDA guidance for FY24 by 2%. In a post published today on Yahoo Finance, ReNew Energy Global Plc (“ReNew” or “the Company”) (Nasdaq: RNW, RNWWW), a leading decarbonization solutions company, today announced its unaudited consolidated IFRS results for Q3 FY24 and nine months ended December 31, 2023.
From an analyst’s perspective:
ReNew Energy Global plc [NASDAQ: RNW] stock has seen the most recent analyst activity on November 21, 2023, when Mizuho initiated its Buy rating and assigned the stock a price target of $8. Previously, Credit Suisse upgraded its rating to Outperform on May 15, 2023. On February 01, 2023, downgrade downgraded it’s rating to Neutral. Goldman started tracking the stock assigning a Buy rating and suggested a price target of $17 on December 07, 2021. BofA Securities upgraded its rating to a Buy and raised its price target to $12 on October 28, 2021.
ReNew Energy Global plc [RNW] stock has fluctuated between $4.78 and $7.79 over the past year. ReNew Energy Global plc [NASDAQ: RNW] shares were valued at $6.05 at the most recent close of the market.
Analyzing the RNW fundamentals
ReNew Energy Global plc [NASDAQ:RNW] reported sales of 1.05B for the trailing twelve months, which represents a growth of 19.90%. Gross Profit Margin for this corporation currently stands at 0.89% with Operating Profit Margin at 0.74%, Pretax Profit Margin comes in at 0.06%, and Net Profit Margin reading is 0.04%. To continue investigating profitability, this company’s Return on Assets is posted at 0.0, Equity is 0.03 and Total Capital is 0.09. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of6.33.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 5.93 points at the first support level, and at 5.81 for the second support level. However, for the 1st resistance point, the stock is sitting at 6.12, and for the 2nd resistance point, it is at 6.20.
ReNew Energy Global plc [RNW] reported earnings per share of -$0.1 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.15/share, meaning a difference of $0.05 and a surprise factor of 33.30%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.11 per share as compared to estimates of $0.02 per share, a difference of $0.09 representing a surprise of 450.00%.
Ratios To Look Out For
For context, ReNew Energy Global plc’s Current Ratio is 0.85. Further, the Quick Ratio stands at 0.84, while the Cash Ratio is 0.34. Considering the valuation of this stock, the price to sales ratio is 2.15, the price to book ratio is 1.81 and price to earnings (TTM) ratio is 51.01.
