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

Cincinnati Financial (NASDAQ:CINF) issued its earnings results on Thursday. The insurance provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03, Briefing.com reports. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. The company’s revenue was up 31.0% compared to the same quarter last year.

Cincinnati Financial Trading Down 1.2 %

Shares of NASDAQ:CINF traded down $1.48 during trading on Thursday, reaching $118.44. 700,242 shares of the stock were exchanged, compared to its average volume of 859,621. The firm’s 50-day moving average price is $117.61 and its 200 day moving average price is $108.96. The firm has a market cap of $18.55 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 2.44 and a beta of 0.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. Cincinnati Financial has a 12-month low of $95.01 and a 12-month high of $124.35.

Cincinnati Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, March 19th were issued a dividend of $0.81 per share. The ex-dividend date was Monday, March 18th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.74%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s payout ratio is presently 27.76%.

Analyst Ratings Changes

A number of analysts have recently commented on CINF shares. TheStreet upgraded Cincinnati Financial from a “c+” rating to a “b” rating in a research note on Tuesday, February 6th. Citigroup upped their price target on Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Piper Sandler reissued a “neutral” rating and set a $116.00 target price on shares of Cincinnati Financial in a report on Monday, April 1st. BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and increased their price target for the company from $125.00 to $135.00 in a report on Monday, March 25th. Finally, 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 report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.