Insurance services company CNO Financial Group (NYSE: CNO) will be reporting results this Thursday after market close. Here’s what investors should know.
CNO Financial Group beat analysts’ revenue expectations last quarter, reporting revenues of $1.01 billion, up 2.4% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue 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 5.2% year on year, in line with the 5.7% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to 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 Q1 results, giving us a hint as to what we can expect. Globe Life delivered year-on-year revenue growth of 5.6%, meeting analysts’ expectations, and Unum Group reported revenues up 1.7%, topping estimates by 8.7%. Globe Life traded up 1.8% following the results.
Read our full analysis of Globe Life’s results here and Unum Group’s results here.
There has been positive sentiment among investors in the insurance segment, with share prices up 7.1% on average over the last month. CNO Financial Group is up 11% during the same time and is heading into earnings with an average analyst price target of $46 (compared to the current share price of $44.57).
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