Cincinnati Financial (NASDAQ:CINF) Releases Quarterly Earnings Results, Beats Estimates 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, topping analysts’ consensus estimates of $1.69 by $0.03, Briefing.com reports. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The firm had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the company posted $0.89 earnings per share. Cincinnati Financial’s revenue was up 31.0% on a year-over-year basis.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF traded down $1.48 during mid-day trading on Thursday, reaching $118.44. 700,281 shares of the company traded hands, compared to its average volume of 859,621. Cincinnati Financial has a fifty-two week low of $95.01 and a fifty-two week high of $124.35. 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 has a market cap of $18.55 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 2.44 and a beta of 0.63. The stock has a fifty day simple moving average of $117.61 and a 200-day simple moving average of $108.96.

Cincinnati Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, March 19th were paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Monday, March 18th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s dividend payout ratio (DPR) is currently 27.76%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citigroup raised their target price on shares of Cincinnati Financial from $120.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. BMO Capital Markets upgraded shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their price target for the company from $125.00 to $135.00 in a research note on Monday, March 25th. TheStreet upgraded shares of Cincinnati Financial from a “c+” rating to a “b” rating in a research note on Tuesday, February 6th. Piper Sandler restated a “neutral” rating and issued a $116.00 price target on shares of Cincinnati Financial in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.