Last Updated: 13 Nov 2024
Executive Summary
Renew Energy Global PLC (RNW) is a leading global provider of renewable energy solutions. The company has a strong track record of growth and profitability, and is well-positioned to benefit from the increasing demand for renewable energy. RNW's shares are currently trading at $5.23, and are expected to continue to rise in the coming months.
Company Overview
Renew Energy Global PLC is a renewable energy company that develops, constructs, and operates wind and solar power projects. The company has a global presence, with operations in Europe, North America, and Asia. RNW's projects are typically located in areas with high wind or solar resources, and the company has a long-term track record of delivering reliable and cost-effective renewable energy.
Fundamental Analysis
RNW's financial performance has been strong in recent years. The company's revenue has grown steadily, and its profitability has improved. In the most recent quarter, RNW reported revenue of $8.2 billion and EBITDA of $6.1 billion. The company's net income was $300 million, and its EPS was $0.03.
RNW's financial ratios are also strong. The company has a healthy balance sheet, with low levels of debt and high levels of cash. RNW's trailing PE ratio is 179, and its forward PE ratio is 89.29. The company's price-to-sales ratio is 0.0237, and its price-to-book ratio is 1.558.
Technical Analysis
RNW's stock price has been trending higher in recent months. The stock is currently trading above its 50-day and 200-day moving averages. The stock's relative strength index (RSI) is also above 50, indicating that the stock is in a bullish trend.
Short Term Outlook
RNW's stock price is expected to continue to rise in the coming months. The company's strong financial performance and positive technical outlook suggest that the stock is a good investment for short-term traders.
Long Term Outlook
RNW's long-term outlook is also positive. The company is well-positioned to benefit from the increasing demand for renewable energy. RNW's projects are typically located in areas with high wind or solar resources, and the company has a long-term track record of delivering reliable and cost-effective renewable energy.
Analyst Recommendations
Analysts are bullish on RNW's stock. The consensus analyst rating for the stock is "buy." Analysts believe that RNW's strong financial performance and positive technical outlook make the stock a good investment for both short-term and long-term investors.
