Property casualty insurer Cincinnati Financial (NASDAQ: CINF) will be reporting earnings this Monday afternoon. Here’s what you need to know.
Cincinnati Financial missed analysts’ revenue expectations last quarter, reporting revenues of $2.91 billion, up 9.6% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ net premiums earned estimates.
Is Cincinnati Financial a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Cincinnati Financial’s revenue to grow 11.7% year on year, slowing from the 13.3% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Cincinnati Financial has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Cincinnati Financial’s peers in the property & casualty insurance segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Stewart Information Services delivered year-on-year revenue growth of 27.7%, beating analysts’ expectations by 4.7%, and First American Financial reported revenues up 16.2%, topping estimates by 2.4%. Stewart Information Services traded up 3.9% following the results while First American Financial was also up 3.5%.
Read our full analysis of Stewart Information Services’s results here and First American Financial’s results here.
There has been positive sentiment among investors in the property & casualty insurance segment, with share prices up 8% on average over the last month. Cincinnati Financial is up 7.1% during the same time and is heading into earnings with an average analyst price target of $173.33 (compared to the current share price of $164.54).
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