HCI Group (HCI) closed the latest trading day at $114.51, indicating a -0.43% change from the previous session’s end. The stock trailed the S&P 500, which registered a daily gain of 0.32%. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw an increase of 0.35%.
Heading into today, shares of the property and casualty insurance holding company had lost 0.93% over the past month, outpacing the Finance sector’s loss of 5.24% and the S&P 500’s loss of 2% in that time.
Market participants will be closely following the financial results of HCI Group in its upcoming release. The company plans to announce its earnings on May 8, 2024. The company is forecasted to report an EPS of $2.74, showcasing an 82.67% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $189.17 million, indicating a 46.61% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10.33 per share and a revenue of $796.57 million, representing changes of +39.41% and +44.65%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for HCI Group. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts’ favorable outlook on the company’s business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we’ve established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.01% higher. HCI Group is currently a Zacks Rank #1 (Strong Buy).
With respect to valuation, HCI Group is currently being traded at a Forward P/E ratio of 11.14. This expresses a discount compared to the average Forward P/E of 12.69 of its industry.
The Insurance – Property and Casualty industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 51, placing it within the top 21% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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HCI Group, Inc. (HCI) : Free Stock Analysis Report
