Are Wall Road Analysts Bullish on Cincinnati | U.S. Finance Information
Valued at a market cap of $21.9 billion, Cincinnati Monetary Company (CINF) supplies property and casualty insurance coverage and likewise has an investment portfolio. The Fairfield, Ohio-based company markets business, home, and auto insurance coverage merchandise via a choose group of impartial insurance coverage companies.
Shares of this insurance coverage company have outpaced the broader market over the previous 52 weeks. Cincinnati Monetary has rallied 24.9% over this time body, whereas the broader S&P 500 Index ($SPX) has gained 17.5%. Nevertheless, on a YTD foundation, the stock is down 2.5%, lagging behind SPX’s 1.3% rise.
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Narrowing the main focus, CINF has underperformed the Monetary Choose Sector SPDR Fund’s (XLF) 26.8% return over the previous 52 weeks and 5.2% gain on a YTD foundation.
On Feb. 10, CINF launched its This fall earnings outcomes. Shares of the company rose 2.8% the next day because it delivered better-than-expected efficiency. CINF posted adjusted earnings of $3.14 per share, which topped the forecasted determine by a whopping 65.2% and superior 37.7% from the year-ago quarter. Working revenues elevated 14.7% year-over-year to $2.6 billion and marginally outpaced the Road’s expectations. The company benefited from robust premium growth of 15%, increased internet investment income, and a 280-bps enchancment in its mixed ratio, a key measure of underwriting profitability.
For the present fiscal yr, ending in December, analysts anticipate Cincinnati Monetary’s EPS to say no 29.3% yr over yr to $5.36. The company’s earnings shock historical past is blended. It topped the Wall Road estimates in three of the final 4 quarters whereas lacking on one other event.
Among the many 10 analysts overlaying the stock, the consensus ranking is a “Moderate Buy,” which is predicated on three “Strong Buy,” two “Moderate Buy,” and 5 “Hold” scores.
On Feb. 12, BMO Capital analyst Michael Zaremski maintained an “Outperform” ranking on CINF and raised its price goal to $153, which signifies a 9.1% potential upside from the present ranges.
The imply price goal of $153.14 represents a 9.2% upside from Cincinnati Monetary’s present price ranges, whereas the Road-high price goal of $182 suggests an upside potential of 29.8%.
On the date of publication, Neharika Jain didn’t have (both straight or not directly) positions in any of the securities talked about on this article. All data and information on this article is solely for informational functions. For more data please view the Barchart Disclosure Coverage right here.
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.
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