CNA Financial Corporation (NYSE:CNA) Expected to Announce Quarterly Sales of $2.35 Billion
Equities analysts expect CNA Financial Corporation (NYSE:CNA) to report $2.35 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for CNA Financial Corporation’s earnings. CNA Financial Corporation also posted sales of $2.35 billion during the same quarter last year. The company is expected to issue its next quarterly earnings report before the market opens on Monday, July 31st.
On average, analysts expect that CNA Financial Corporation will report full-year sales of $2.35 billion for the current year, with estimates ranging from $9.33 billion to $9.40 billion. For the next fiscal year, analysts anticipate that the company will report sales of $9.54 billion per share, with estimates ranging from $9.33 billion to $9.76 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow CNA Financial Corporation.
CNA Financial Corporation (NYSE:CNA) last posted its earnings results on Monday, May 1st. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.08. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $2.02 billion. CNA Financial Corporation had a net margin of 11.08% and a return on equity of 8.11%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS.
A number of research analysts recently weighed in on CNA shares. Zacks Investment Research raised CNA Financial Corporation from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Tuesday, April 18th. BidaskClub downgraded CNA Financial Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 13th. Finally, Deutsche Bank AG downgraded CNA Financial Corporation from a “buy” rating to a “hold” rating and raised their price objective for the company from $45.00 to $46.00 in a research note on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $44.25.
In related news, Director Joseph Rosenberg sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $45.02, for a total value of $675,300.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CNA. Parallel Advisors LLC increased its position in shares of CNA Financial Corporation by 16.5% in the first quarter. Parallel Advisors LLC now owns 3,021 shares of the insurance provider’s stock worth $136,000 after buying an additional 427 shares during the last quarter. Neuburgh Advisers LLC bought a new position in shares of CNA Financial Corporation during the first quarter worth $144,000. SG Americas Securities LLC increased its position in shares of CNA Financial Corporation by 6.1% in the first quarter. SG Americas Securities LLC now owns 3,914 shares of the insurance provider’s stock worth $173,000 after buying an additional 224 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new position in shares of CNA Financial Corporation during the first quarter worth $173,000. Finally, Glen Harbor Capital Management LLC bought a new position in shares of CNA Financial Corporation during the first quarter worth $197,000. 99.56% of the stock is currently owned by institutional investors and hedge funds.
CNA Financial Corporation (NYSE CNA) traded down 0.04% during trading on Friday, reaching $48.92. The company’s stock had a trading volume of 178,065 shares. The firm has a market capitalization of $13.26 billion, a price-to-earnings ratio of 12.58 and a beta of 1.21. CNA Financial Corporation has a 52-week low of $30.94 and a 52-week high of $49.95. The stock’s 50-day moving average is $47.92 and its 200 day moving average is $44.55.
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About CNA Financial Corporation
CNA Financial Corporation is an insurance holding company. The Company’s segments include Specialty, Commercial, International, Life & Group Non-Core, and Corporate & Other Non-Core. Its Specialty segment provides a range of professional, financial, and specialty property, and casualty products and services.
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