Zacks Reiterates “Neutral” Rating for The Chubb (CB)
The Chubb (NYSE:CB)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Wednesday. They currently have a $97.00 price target on the stock. Zacks‘s target price points to a potential upside of 5.45% from the stock’s previous close.
Zacks’ analyst wrote, “Faced with catastrophe losses during the second quarter, Chubb missed the earnings estimates. However, we expect strong earnings over the long term given the company’s superior franchise network and a significant presence in its niche market. Chubb’s Commercial insurance segment has consistently reported favorable earnings led by a renewal rate that has increased over several quarters. The retention ratio stands at a stable level. Chubb’s Personal Insurance segment is also witnessing gradual market improvement. Moreover, Chubb’s international business has been performing strongly and is the key to its future growth. Moreover, the company’s disciplined capital management strategy which includes regular share buyback and dividend payment will drive the bottom line. We thus maintain our Neutral recommendation on the stock.”
The Chubb (NYSE:CB) traded up 0.15% during mid-day trading on Wednesday, hitting $92.13. The stock had a trading volume of 405,728 shares. The Chubb has a 52 week low of $82.98 and a 52 week high of $97.79. The stock has a 50-day moving average of $90.29 and a 200-day moving average of $90.52. The company has a market cap of $22.156 billion and a P/E ratio of 11.24.
The Chubb (NYSE:CB) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.70 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.93 by $0.23. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.17 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts predict that The Chubb will post $7.02 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of The Chubb in a research note on Friday, July 25th. They now have a $95.00 price target on the stock, up previously from $94.00. Analysts at Barclays reiterated an “equal weight” rating on shares of The Chubb in a research note on Friday, July 25th. They now have a $95.00 price target on the stock, down previously from $98.00. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The Chubb presently has a consensus rating of “Hold” and a consensus target price of $93.44.
The Chubb Corporation (NYSE:CB) is a holding company for several, separately organized, property and casualty insurance companies referred to informally as the Chubb Group of Insurance Companies (the P&C Group).
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