Cna Financial Corp (CNA) Expected to Announce Quarterly Sales of $2.57 Billion
Wall Street analysts predict that Cna Financial Corp (NYSE:CNA) will post $2.57 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Cna Financial’s earnings. Cna Financial posted sales of $2.32 billion during the same quarter last year, which suggests a positive year over year growth rate of 10.8%. The company is scheduled to report its next quarterly earnings report before the market opens on Monday, July 30th.
According to Zacks, analysts expect that Cna Financial will report full-year sales of $10.31 billion for the current financial year, with estimates ranging from $10.30 billion to $10.33 billion. For the next financial year, analysts forecast that the business will report sales of $10.74 billion per share, with estimates ranging from $10.60 billion to $10.88 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Cna Financial.
Cna Financial (NYSE:CNA) last released its quarterly earnings results on Monday, April 30th. The insurance provider reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.16. Cna Financial had a net margin of 9.54% and a return on equity of 8.06%. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the previous year, the company earned $0.87 EPS.
In other news, CEO Dino Robusto sold 2,036 shares of the business’s stock in a transaction that occurred on Wednesday, May 23rd. The shares were sold at an average price of $48.63, for a total value of $99,010.68. Following the completion of the sale, the chief executive officer now directly owns 142,277 shares in the company, valued at approximately $6,918,930.51. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Douglas Worman sold 11,396 shares of the business’s stock in a transaction that occurred on Thursday, May 3rd. The stock was sold at an average price of $47.66, for a total transaction of $543,133.36. Following the completion of the sale, the executive vice president now owns 17,273 shares of the company’s stock, valued at $823,231.18. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in CNA. BNP Paribas Arbitrage SA raised its holdings in Cna Financial by 395.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,936 shares of the insurance provider’s stock valued at $145,000 after buying an additional 2,343 shares during the last quarter. TLP Group LLC bought a new stake in Cna Financial during the 1st quarter valued at $159,000. Sciencast Management LP bought a new stake in Cna Financial during the 1st quarter valued at $208,000. Verition Fund Management LLC bought a new stake in Cna Financial during the 4th quarter valued at $229,000. Finally, Quantbot Technologies LP raised its holdings in Cna Financial by 205.6% during the 1st quarter. Quantbot Technologies LP now owns 5,575 shares of the insurance provider’s stock valued at $275,000 after buying an additional 3,751 shares during the last quarter. Hedge funds and other institutional investors own 99.26% of the company’s stock.
Cna Financial traded down $0.40, reaching $47.32, during midday trading on Friday, Marketbeat.com reports. The company had a trading volume of 159,705 shares, compared to its average volume of 228,325. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.23 and a quick ratio of 0.23. Cna Financial has a 1 year low of $45.10 and a 1 year high of $55.62. The stock has a market cap of $12.87 billion, a PE ratio of 13.97, a P/E/G ratio of 2.28 and a beta of 1.16.
About Cna Financial
CNA Financial Corporation provides commercial property and casualty insurance products primarily in the United States. It operates through Specialty, Commercial, International, Life & Group, and Corporate & Other segments. The company's property insurance products include property, marine, boiler, and machinery coverages; and casualty insurance products comprise workers compensation, general and product liability, commercial auto, and umbrella coverages.
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