Zacks: Brokerages Expect CNO Financial Group Inc (CNO) Will Post Earnings of $0.52 Per Share

Brokerages expect CNO Financial Group Inc (NYSE:CNO) to post earnings per share of $0.52 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for CNO Financial Group’s earnings. The highest EPS estimate is $0.54 and the lowest is $0.50. CNO Financial Group posted earnings per share of $0.61 during the same quarter last year, which suggests a negative year-over-year growth rate of 14.8%. The company is expected to announce its next earnings results on Tuesday, February 12th.

According to Zacks, analysts expect that CNO Financial Group will report full-year earnings of $1.97 per share for the current fiscal year, with EPS estimates ranging from $1.95 to $2.00. For the next year, analysts anticipate that the firm will post earnings of $2.18 per share, with EPS estimates ranging from $2.15 to $2.20. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for CNO Financial Group.

CNO Financial Group (NYSE:CNO) last posted its earnings results on Wednesday, October 31st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. CNO Financial Group had a negative net margin of 8.95% and a positive return on equity of 7.89%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $999.03 million. During the same period in the previous year, the firm posted $0.59 earnings per share. The firm’s quarterly revenue was up 37.2% on a year-over-year basis.

Several research analysts recently weighed in on the stock. ValuEngine upgraded shares of CNO Financial Group from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. Zacks Investment Research upgraded shares of CNO Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, August 6th. Keefe, Bruyette & Woods restated a “hold” rating and set a $24.00 price target on shares of CNO Financial Group in a research report on Friday, August 17th. Finally, TheStreet downgraded shares of CNO Financial Group from a “b” rating to a “c” rating in a research report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. CNO Financial Group presently has a consensus rating of “Hold” and a consensus target price of $23.75.

Shares of CNO traded down $0.22 during mid-day trading on Monday, hitting $19.00. 1,242,765 shares of the company were exchanged, compared to its average volume of 1,008,484. CNO Financial Group has a 1-year low of $18.15 and a 1-year high of $26.47. The company has a quick ratio of 0.14, a current ratio of 0.26 and a debt-to-equity ratio of 0.71. The company has a market cap of $3.13 billion, a PE ratio of 9.41 and a beta of 1.14.

In other news, Director Stephen N. David purchased 2,000 shares of the company’s stock in a transaction dated Monday, November 5th. The stock was acquired at an average price of $18.50 per share, with a total value of $37,000.00. Following the purchase, the director now directly owns 19,706 shares in the company, valued at approximately $364,561. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Matthew J. Zimpfer sold 17,417 shares of the stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $18.46, for a total transaction of $321,517.82. Following the completion of the sale, the executive vice president now directly owns 137,580 shares of the company’s stock, valued at approximately $2,539,726.80. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Trexquant Investment LP boosted its position in shares of CNO Financial Group by 36.3% during the 3rd quarter. Trexquant Investment LP now owns 32,868 shares of the financial services provider’s stock worth $697,000 after purchasing an additional 8,755 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of CNO Financial Group by 59.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 15,643 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 5,820 shares during the period. BlackRock Inc. boosted its position in shares of CNO Financial Group by 17.0% during the 3rd quarter. BlackRock Inc. now owns 19,514,213 shares of the financial services provider’s stock worth $414,094,000 after purchasing an additional 2,839,109 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of CNO Financial Group by 58.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 13,396 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 4,966 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of CNO Financial Group by 5.7% during the 3rd quarter. Alliancebernstein L.P. now owns 479,908 shares of the financial services provider’s stock worth $10,184,000 after purchasing an additional 25,980 shares during the period. 92.49% of the stock is owned by institutional investors and hedge funds.

About CNO Financial Group

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.

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Earnings History and Estimates for CNO Financial Group (NYSE:CNO)

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