Cincinnati Financial (NASDAQ:CINF) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Cincinnati Financial (NASDAQ:CINF) issued its earnings results on Thursday. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.03, Briefing.com reports. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.13 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 22.16%. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter last year, the company earned $0.89 EPS.

Cincinnati Financial Trading Down 6.4 %

Shares of Cincinnati Financial stock traded down $7.56 on Friday, reaching $110.88. The company had a trading volume of 2,184,563 shares, compared to its average volume of 567,488. The firm has a market cap of $17.37 billion, a price-to-earnings ratio of 7.38, a P/E/G ratio of 2.39 and a beta of 0.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. The firm’s 50-day moving average price is $117.71 and its two-hundred day moving average price is $109.08. Cincinnati Financial has a 1 year low of $95.01 and a 1 year high of $124.35.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup lifted their target price on Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods lifted their target price on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $116.00 price objective on shares of Cincinnati Financial in a research note on Monday, April 1st. BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $125.00 to $135.00 in a research note on Monday, March 25th. Finally, TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a research note on Tuesday, February 6th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Cincinnati Financial currently has an average rating of “Hold” and an average target price of $123.57.

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.