Brokerages Anticipate Cincinnati Financial Corporation (CINF) to Announce $0.87 Earnings Per Share
Brokerages forecast that Cincinnati Financial Corporation (NASDAQ:CINF) will post earnings of $0.87 per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Cincinnati Financial Corporation’s earnings, with estimates ranging from $0.85 to $0.88. Cincinnati Financial Corporation reported earnings of $0.75 per share during the same quarter last year, which suggests a positive year over year growth rate of 16%. The business is expected to report its next quarterly earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that Cincinnati Financial Corporation will report full year earnings of $2.65 per share for the current fiscal year, with EPS estimates ranging from $2.60 to $2.70. For the next fiscal year, analysts forecast that the firm will post earnings of $3.00 per share, with EPS estimates ranging from $2.85 to $3.15. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Cincinnati Financial Corporation.
Cincinnati Financial Corporation (NASDAQ:CINF) last announced its earnings results on Thursday, October 26th. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Cincinnati Financial Corporation had a return on equity of 5.85% and a net margin of 8.93%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share.
CINF has been the topic of several recent analyst reports. BidaskClub raised Cincinnati Financial Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded Cincinnati Financial Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $70.00 target price on shares of Cincinnati Financial Corporation in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $79.25.
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The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 22nd were paid a $0.50 dividend. The ex-dividend date was Thursday, September 21st. This represents a $2.00 annualized dividend and a yield of 2.76%. Cincinnati Financial Corporation’s dividend payout ratio (DPR) is presently 66.23%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Seven Eight Capital LP bought a new stake in Cincinnati Financial Corporation in the 2nd quarter valued at $101,000. Korea Investment CORP boosted its stake in Cincinnati Financial Corporation by 142.0% in the 2nd quarter. Korea Investment CORP now owns 1,452 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 852 shares during the period. Canada Pension Plan Investment Board boosted its stake in Cincinnati Financial Corporation by 12,727.3% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,411 shares of the insurance provider’s stock valued at $108,000 after purchasing an additional 1,400 shares during the period. People s United Financial Inc. boosted its stake in Cincinnati Financial Corporation by 6.5% in the 2nd quarter. People s United Financial Inc. now owns 1,802 shares of the insurance provider’s stock valued at $131,000 after purchasing an additional 110 shares during the period. Finally, San Francisco Sentry Investment Group CA bought a new stake in Cincinnati Financial Corporation in the 2nd quarter valued at $152,000. Institutional investors and hedge funds own 62.85% of the company’s stock.
About Cincinnati Financial Corporation
Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.
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