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

Cincinnati Financial (NASDAQ:CINF) released its earnings results on Thursday. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03, Briefing.com reports. The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.13 billion. Cincinnati Financial had a net margin of 22.16% and a return on equity of 9.63%. Cincinnati Financial’s revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 earnings per share.

Cincinnati Financial Stock Performance

Cincinnati Financial stock opened at $110.88 on Friday. 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 stock has a 50 day moving average of $117.71 and a 200-day moving average of $109.13. The stock has a market cap of $17.37 billion, a P/E ratio of 7.38, a price-to-earnings-growth ratio of 2.24 and a beta of 0.63. Cincinnati Financial has a 52 week low of $95.01 and a 52 week high of $124.35.

Analyst Upgrades and Downgrades

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