Cincinnati Financial (NASDAQ:CINF) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Cincinnati Financial (NASDAQ:CINF) posted its quarterly earnings results on Thursday. The insurance provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.04), Briefing.com reports. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The business’s revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.66 EPS.

Cincinnati Financial Stock Performance

CINF traded up $3.01 during midday trading on Friday, hitting $141.25. 857,014 shares of the company were exchanged, compared to its average volume of 708,542. The company’s 50 day simple moving average is $135.86 and its 200 day simple moving average is $125.09. The firm has a market capitalization of $22.11 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial has a 1-year low of $96.86 and a 1-year high of $142.25.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio is currently 21.56%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $126.00 to $135.00 in a report on Friday, June 28th. Roth Mkm lifted their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Bank of America lifted their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and a consensus target price of $136.29.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It 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.