Renew (LON:RNWH) Given Buy Rating at Shore Capital

Shore Capital reaffirmed their buy rating on shares of Renew (LON:RNWH - Free Report) in a research report sent to investors on Tuesday, Marketbeat Ratings reports.

Separately, Berenberg Bank raised their target price on shares of Renew from GBX 1,000 ($12.56) to GBX 1,200 ($15.07) and gave the stock a buy rating in a report on Tuesday.

Renew Trading Up 2.4 %

Shares of LON:RNWH traded up GBX 24 ($0.30) during midday trading on Tuesday, reaching GBX 1,026 ($12.89). The company had a trading volume of 283,055 shares, compared to its average volume of 144,869. The company has a fifty day simple moving average of GBX 929.44 and a two-hundred day simple moving average of GBX 862.60. The firm has a market cap of £811.98 million, a price-to-earnings ratio of 1,738.98 and a beta of 0.98. Renew has a 1-year low of GBX 672 ($8.44) and a 1-year high of GBX 1,056 ($13.26). The company has a debt-to-equity ratio of 9.85, a quick ratio of 0.81 and a current ratio of 0.91.

Renew Cuts Dividend

The business also recently declared a dividend, which will be paid on Wednesday, July 10th. Investors of record on Thursday, June 6th will be issued a dividend of GBX 6.33 ($0.08) per share. This represents a dividend yield of 0.63%. The ex-dividend date is Thursday, June 6th. Renew's dividend payout ratio is currently 3,050.85%.

Renew Company Profile

Renew Holdings plc operates as a contractor in the field of engineering services and specialist building in the United Kingdom. The company engages in the provision of services to the rail, telecoms, water, highways, and energy networks. It offers operational support and asset care; critical planned and reactive maintenance and renewals; civil, mechanical, and electrical engineering services; geotechnical and earthworks; plant, power, and signaling renewals; 24/7 emergency services; asset renewal and refurbishment; tunnel and shaft refurbishment, fencing, and devegetation; and in-house design services, as well as wireless telecoms installations; critical planned and reactive maintenance and renewals; acquisition, planning and design services; 3G, 4G, 5G, and Wi-Fi technologies; temporary sites and special events; and maintenance and decommissioning services.