Cincinnati Financial Co. (NASDAQ:CINF) to Post Q2 2024 Earnings of $1.13 Per Share, Roth Capital Forecasts

Cincinnati Financial Co. (NASDAQ:CINFFree Report) – Roth Capital dropped their Q2 2024 earnings per share estimates for shares of Cincinnati Financial in a note issued to investors on Wednesday, February 7th. Roth Capital analyst H. Fong now forecasts that the insurance provider will earn $1.13 per share for the quarter, down from their previous estimate of $1.14. The consensus estimate for Cincinnati Financial’s current full-year earnings is $6.06 per share. Roth Capital also issued estimates for Cincinnati Financial’s Q1 2025 earnings at $2.04 EPS, Q2 2025 earnings at $1.37 EPS and Q4 2025 earnings at $2.47 EPS.

A number of other research analysts have also recently commented on the stock. TheStreet upgraded shares of Cincinnati Financial from a “c+” rating to a “b” rating in a report on Tuesday. Citigroup assumed coverage on shares of Cincinnati Financial in a research note on Wednesday, November 22nd. They set a “neutral” rating and a $110.00 price target for the company. Janney Montgomery Scott began coverage on Cincinnati Financial in a research note on Thursday, December 14th. They issued a “neutral” rating and a $110.00 price objective on the stock. Oppenheimer initiated coverage on Cincinnati Financial in a research report on Thursday, November 16th. They set a “market perform” rating for the company. Finally, Piper Sandler increased their price target on Cincinnati Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $113.67.

Get Our Latest Report on CINF

Cincinnati Financial Trading Down 4.5 %

Shares of NASDAQ CINF opened at $107.03 on Thursday. The business’s 50 day moving average price is $106.42 and its 200-day moving average price is $104.62. Cincinnati Financial has a fifty-two week low of $95.01 and a fifty-two week high of $130.66. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market cap of $16.79 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 1.22 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINFGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The insurance provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.33. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.82%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.27 EPS.

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, March 19th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 3.03%. The ex-dividend date is Monday, March 18th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s payout ratio is 25.71%.

Insiders Place Their Bets

In other news, Director Dirk J. Debbink bought 2,000 shares of the stock in a transaction on Tuesday, December 5th. The stock was bought at an average cost of $102.98 per share, for a total transaction of $205,960.00. Following the completion of the purchase, the director now directly owns 51,542 shares in the company, valued at $5,307,795.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cincinnati Financial

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in Cincinnati Financial during the 4th quarter valued at about $149,585,000. Los Angeles Capital Management LLC lifted its stake in Cincinnati Financial by 554.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,109,299 shares of the insurance provider’s stock valued at $113,470,000 after acquiring an additional 939,861 shares during the period. Osaic Holdings Inc. increased its stake in shares of Cincinnati Financial by 824.3% in the second quarter. Osaic Holdings Inc. now owns 722,610 shares of the insurance provider’s stock worth $7,718,000 after acquiring an additional 644,430 shares during the period. Select Equity Group L.P. increased its stake in shares of Cincinnati Financial by 294.9% in the fourth quarter. Select Equity Group L.P. now owns 589,409 shares of the insurance provider’s stock worth $60,350,000 after acquiring an additional 440,158 shares during the period. Finally, State Street Corp raised its holdings in shares of Cincinnati Financial by 4.1% during the first quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock worth $1,246,056,000 after purchasing an additional 360,552 shares during the last quarter. Institutional investors and hedge funds own 64.81% of the company’s stock.

Cincinnati Financial Company Profile

(Get Free Report)

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

Further Reading

Earnings History and Estimates for Cincinnati Financial (NASDAQ:CINF)

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