Insurance services company CNO Financial Group (NYSE: CNO) will be reporting results this Thursday after the bell. Here’s what investors should know.
CNO Financial Group met analysts’ revenue expectations last quarter, reporting revenues of $999.2 million, up 5.3% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but a significant miss of analysts’ book value per share estimates.
Is CNO Financial Group a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting CNO Financial Group’s revenue to grow 4% year on year, improving from the 1.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. CNO Financial Group has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at CNO Financial Group’s peers in the insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Unum Group posted flat year-on-year revenue, beating analysts’ expectations by 11.5%, and Globe Life reported revenues up 6.1%, in line with consensus estimates. Globe Life traded down 7% following the results.
Read our full analysis of Unum Group’s results here and Globe Life’s results here.
There has been positive sentiment among investors in the insurance segment, with share prices up 6.7% on average over the last month. CNO Financial Group is up 2.7% during the same time and is heading into earnings with an average analyst price target of $51.75 (compared to the current share price of $53.53).
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