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

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

Cincinnati Financial Price Performance

Shares of CINF traded down $7.56 during trading hours on Friday, reaching $110.88. 2,184,563 shares of the company’s stock traded hands, compared to its average volume of 567,488. The stock has a market cap of $17.37 billion, a PE ratio of 7.38, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. The firm’s 50 day simple moving average is $117.71 and its 200-day simple moving average is $109.08. Cincinnati Financial has a 12 month low of $95.01 and a 12 month high of $124.35.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CINF. Piper Sandler reissued a “neutral” rating and issued a $116.00 price objective on shares of Cincinnati Financial in a report on Monday, April 1st. TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a report on Tuesday, February 6th. Citigroup lifted their target price on Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a report 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 report on Wednesday, April 10th. Finally, BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $125.00 to $135.00 in a report on Monday, March 25th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $123.57.

About Cincinnati Financial

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.