Q4 2017 EPS Estimates for HCI Group, Inc. Cut by SunTrust Banks (HCI)
HCI Group, Inc. (NYSE:HCI) – Investment analysts at SunTrust Banks reduced their Q4 2017 EPS estimates for shares of HCI Group in a research report issued to clients and investors on Thursday. SunTrust Banks analyst M. Hughes now forecasts that the insurance provider will earn $0.82 per share for the quarter, down from their prior forecast of $0.96. SunTrust Banks also issued estimates for HCI Group’s Q1 2018 earnings at $0.90 EPS, Q3 2018 earnings at $0.45 EPS, Q4 2018 earnings at $0.90 EPS and FY2018 earnings at $3.15 EPS.
HCI Group (NYSE:HCI) last issued its quarterly earnings results on Thursday, November 2nd. The insurance provider reported ($4.44) EPS for the quarter, missing the consensus estimate of ($2.52) by ($1.92). The firm had revenue of $44.00 million for the quarter, compared to the consensus estimate of $66.46 million. HCI Group had a negative net margin of 5.63% and a negative return on equity of 6.34%. The business’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.10 earnings per share.
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Other equities analysts also recently issued reports about the stock. Sidoti upgraded shares of HCI Group from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Monday, September 11th. TheStreet downgraded shares of HCI Group from a “b-” rating to a “c” rating in a research note on Thursday, September 28th. ValuEngine cut shares of HCI Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. BidaskClub cut shares of HCI Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research cut shares of HCI Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $43.33.
HCI Group (HCI) opened at $32.46 on Monday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.61 and a quick ratio of 1.15. HCI Group has a one year low of $26.29 and a one year high of $50.93.
A number of hedge funds have recently added to or reduced their stakes in the stock. Capstone Asset Management Co. grew its position in HCI Group by 1.0% during the second quarter. Capstone Asset Management Co. now owns 4,926 shares of the insurance provider’s stock valued at $231,000 after buying an additional 50 shares during the period. Thrivent Financial For Lutherans lifted its stake in shares of HCI Group by 3.3% in the second quarter. Thrivent Financial For Lutherans now owns 4,950 shares of the insurance provider’s stock worth $233,000 after buying an additional 160 shares in the last quarter. Virginia Retirement Systems ET AL lifted its stake in shares of HCI Group by 1.2% in the second quarter. Virginia Retirement Systems ET AL now owns 17,300 shares of the insurance provider’s stock worth $813,000 after buying an additional 200 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of HCI Group by 1.6% in the first quarter. Legal & General Group Plc now owns 14,147 shares of the insurance provider’s stock worth $644,000 after buying an additional 221 shares in the last quarter. Finally, Brandywine Global Investment Management LLC lifted its stake in shares of HCI Group by 11.4% in the second quarter. Brandywine Global Investment Management LLC now owns 3,230 shares of the insurance provider’s stock worth $152,000 after buying an additional 330 shares in the last quarter. Institutional investors own 72.26% of the company’s stock.
In related news, CEO Paresh Patel purchased 1,000 shares of the business’s stock in a transaction on Wednesday, September 20th. The shares were acquired at an average price of $36.06 per share, for a total transaction of $36,060.00. Following the purchase, the chief executive officer now owns 227,000 shares of the company’s stock, valued at approximately $8,185,620. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired a total of 1,565 shares of company stock worth $56,894 in the last 90 days. 20.37% of the stock is currently owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.40 dividend on an annualized basis and a yield of 4.31%. HCI Group’s payout ratio is -74.07%.
About HCI Group
HCI Group, Inc (HCI) is an insurance holding company. The Company operates through four operating divisions: property and casualty insurance, reinsurance, investment real estate and information technology. Its operations include Insurance Operations and Other Operations. Its Insurance Operations include property and casualty insurance, and reinsurance.
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