Zacks: Analysts Expect CNA Financial Corporation (CNA) Will Announce Earnings of $0.77 Per Share
Wall Street analysts expect that CNA Financial Corporation (NYSE:CNA) will announce earnings per share (EPS) of $0.77 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for CNA Financial Corporation’s earnings, with the lowest EPS estimate coming in at $0.65 and the highest estimate coming in at $0.90. CNA Financial Corporation posted earnings per share of $0.74 during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.1%. The business is scheduled to report its next quarterly earnings report on Monday, August 7th.
Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow CNA Financial Corporation.
CNA Financial Corporation (NYSE:CNA) last posted its quarterly earnings results on Monday, May 1st. The insurance provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.08. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $2.02 billion. CNA Financial Corporation had a return on equity of 8.11% and a net margin of 11.08%. CNA Financial Corporation’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share.
Several research firms have issued reports on CNA. Zacks Investment Research downgraded CNA Financial Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, March 15th. Deutsche Bank AG downgraded CNA Financial Corporation from a “buy” rating to a “hold” rating and lifted their price target for the company from $45.00 to $46.00 in a research note on Tuesday, May 2nd.
In related news, Director Joseph Rosenberg sold 15,000 shares of CNA Financial Corporation stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $45.02, for a total value of $675,300.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in CNA. Guggenheim Capital LLC increased its stake in CNA Financial Corporation by 20.4% in the fourth quarter. Guggenheim Capital LLC now owns 100,391 shares of the insurance provider’s stock worth $4,166,000 after buying an additional 16,979 shares in the last quarter. Cigna Investments Inc. New bought a new stake in CNA Financial Corporation during the fourth quarter worth about $878,000. NWQ Investment Management Company LLC increased its stake in CNA Financial Corporation by 3.2% in the fourth quarter. NWQ Investment Management Company LLC now owns 385,200 shares of the insurance provider’s stock worth $15,986,000 after buying an additional 11,812 shares in the last quarter. Denali Advisors LLC increased its stake in CNA Financial Corporation by 12.9% in the first quarter. Denali Advisors LLC now owns 181,500 shares of the insurance provider’s stock worth $8,017,000 after buying an additional 20,700 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new stake in CNA Financial Corporation during the fourth quarter worth about $204,000. 99.50% of the stock is currently owned by institutional investors and hedge funds.
CNA Financial Corporation (NYSE CNA) traded up 0.33% on Monday, reaching $48.77. The company had a trading volume of 11,505 shares. The stock has a market capitalization of $13.22 billion, a price-to-earnings ratio of 12.54 and a beta of 1.17. CNA Financial Corporation has a 12 month low of $29.38 and a 12 month high of $48.86. The firm has a 50 day moving average price of $45.78 and a 200-day moving average price of $43.29.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Monday, May 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Thursday, May 11th. CNA Financial Corporation’s dividend payout ratio is currently 25.77%.
About CNA Financial Corporation
CNA Financial Corporation is an insurance holding company. The Company’s segments include Specialty, Commercial, International, Life & Group Non-Core, and Corporate & Other Non-Core. Its Specialty segment provides a range of professional, financial, and specialty property, and casualty products and services.
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