Renner's shares have already risen 55% since July, when they hit their lowest point for the year (Image: iStoock/Leila Melhado)
A Renner Stores (LREN3) approved the payment of R$161 million in interest on equity, according to a document sent to the market this Thursday (19).
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According to the statement, the value per share will be R$0.168760, with the amount to be paid starting October 8th.
Shareholders who want to take advantage of the windfall have until September 24 to buy the shares. From the 25th onwards, the shares will be traded 'ex-JCPs'.
Analysts remain confident with Renner
Renner's shares have already risen 55% since July, when they hit their lowest point for the year. Despite this, analysts remain optimistic about the stock.
Last week, the BTG Pactual updated the target price for the shares from R$20 to R$24 by the end of next year.
“We believe that the company, after a higher investment cycle in technology and in its new distribution center, has gradually evolved its business model to mitigate challenges, which means some tailwinds for the coming quarters,” write analysts Luiz Guanais, Gabriel Disselli, Pedro Lima and Luís Mollo, in a report.
The investment bank reiterated its buy recommendation for the retailer's shares.
Already the Bank of America (BofA) raised its target price from R$21 to R$22, with a buy recommendation.
In addition, the bank increased its estimate for net profit at the end of 2024 from R$1.1 billion to R$1.3 billion in 2024.
Projections for next year were also revised from R$1.4 billion to R$1.5 billion.
“After a long period of underperformance, we expect Lojas Renner to benefit from a stronger consumer environment and execution improvements in logistics, advertising and consumer credit,” the analysts said.