Cincinnati Financial’s Hold Rating Reaffirmed at Deutsche Bank (CINF)
Cincinnati Financial (NASDAQ:CINF)‘s stock had its “hold” rating reiterated by analysts at Deutsche Bank in a research report issued to clients and investors on Tuesday, AmericanBankingNews.com reports. They currently have a $45.00 target price on the stock. Deutsche Bank’s target price indicates a potential downside of 4.26% from the company’s current price.
Cincinnati Financial (NASDAQ:CINF) traded up 0.34% on Tuesday, hitting $47.16. 476,341 shares of the company’s stock traded hands. Cincinnati Financial has a one year low of $43.62 and a one year high of $53.74. The stock has a 50-day moving average of $49.33 and a 200-day moving average of $49.22. The company has a market cap of $7.687 billion and a price-to-earnings ratio of 15.06.
Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.03. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company posted $1.11 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Analysts expect that Cincinnati Financial will post $2.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, April 15th. Stockholders of record on Wednesday, March 19th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.42.
In other Cincinnati Financial news, Director Kenneth Lichtendahl bought 1,050 shares of the stock on the open market in a transaction dated Monday, February 10th. The stock was purchased at an average cost of $45.30 per share, for a total transaction of $47,565.00. Following the transaction, the director now directly owns 28,927 shares of the company’s stock, valued at approximately $1,310,393. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on CINF. Analysts at Zacks downgraded shares of Cincinnati Financial from an “outperform” rating to a “neutral” rating in a research note on Tuesday, February 11th. They now have a $48.00 price target on the stock. Analysts at Keefe, Bruyette & Woods cut their price target on shares of Cincinnati Financial from $55.00 to $53.00 in a research note on Monday, February 10th. Five research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of $47.00.
Cincinnati Financial Corporation is engaged in property casualty insurance marketed through independent insurance agents in 39 states.
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