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Cincinnati Financial Corporation (CINF), headquartered in Fairfield, Ohio, is a leading property and casualty insurance provider in the United States. With a market cap of $20.80 billion, Cincinnati Financial offers comprehensive insurance solutions to businesses, individuals, and families. The company is scheduled to announce its Q3 earnings on Thursday, Oct. 24.
Ahead of the event, analysts expect CINF to report a profit of $1.40 per share, down 15.7% from $1.66 in the year-ago quarter. The company has surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Its adjusted earnings of $1.29 per share for the last quarter surpassed the consensus estimate by 33%. Cincinnati Financial's Q2 performance was driven by premium growth, price increases, and higher interest income.
For fiscal 2024, analysts expect CINF to report EPS of $6.58, up 9.1% from $6.03 in fiscal 2023.
CINF stock is up 28.4% on a YTD basis, outperforming the broader S&P 500 Index's ($SPX) 19.4% gains and the SPDR S&P Insurance ETF’s (KIE) 23.1% gain over the same time frame.
CINF stock rose 3% following its Q2 earnings release on Jul. 25 due to the company's stronger-than-expected profit driven by an 11% increase in earned premiums and a solid performance in its commercial lines segment.
The consensus opinion on CINF stock is moderately optimistic, with an overall “Moderate Buy” rating. Of 10 analysts covering the stock, four advise a “Strong Buy” rating, one suggests a “Moderate Buy,” and five recommend a “Hold.” CINF's average analyst price target is $136.75, which indicates that the stock trades at a premium.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
