CNA Financial Corp. Trading 6.8% Higher Following Better-Than-Expected Earnings (CNA)
CNA Financial Corp. (NYSE:CNA) shares shot up 6.8% on Monday after the company announced better than expected quarterly earnings, Analyst Ratings.Net reports. The stock traded as high as $42.80 and last traded at $42.38, with a volume of 291,493 shares changing hands. The stock had previously closed at $39.67.
The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.36. During the same quarter in the previous year, the company posted ($0.03) earnings per share.
The company also recently declared a special dividend, which is scheduled for Wednesday, March 12th. Stockholders of record on Monday, February 24th will be given a dividend of $1.00 per share.
CNA has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of CNA Financial Corp. from an “outperform” rating to a “neutral” rating in a research note on Tuesday, February 4th. They now have a $45.90 price target on the stock.
The stock has a 50-day moving average of $41.16 and a 200-day moving average of $39.16. The company has a market cap of $11.441 billion and a price-to-earnings ratio of 15.14.
CNA Financial Corporation (NYSE:CNA) is an insurance holding company.
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