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Chicago, Il based CNA Financial Corporation (CNA - Free Report) boasts being the eighth largest commercial insurance writer and the 14th largest property and casualty company in the U.S. The company provides insurance coverage for standard commercial lines, specialty lines, surety, marine and other property and casualty coverages.
CNA Financial has been intensifying its focus on core business and as such has been divesting the non-core operations. Besides aligning International operations, the company is also expanding its underwriting capabilities. CNA Financial remains focused on expense management to facilitate margin expansion.
Currently, CNA Financial has a Zacks Rank #2 (Buy), but that could definitely change following its earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below. You can see the complete list of today’s Zacks Rank #1 stocks here.
How was the Bottom Line?
CNA Financial beats estimates. Our consensus called for EPS of 84 cents per share, and the company reported EPS of $1.15 per share.
• P&C combined ratio excluding catastrophe and development was 97.5% compared to 95.5% in the prior year quarter. • Net operating income was $311 million, which soared 48.1% from $210 million in the year ago quarter. • Book value (excluding AOCI) as of Sep 30, 2016 was $44.21 per share, down 0.9% from Dec 31, 2015. • Quarterly dividend declared was 25 cents per share.
Check back later for our full write up on this CNA earnings report later!
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CNA Financial (CNA) Q3 Earnings Beat, Improve Y/Y
Chicago, Il based CNA Financial Corporation (CNA - Free Report) boasts being the eighth largest commercial insurance writer and the 14th largest property and casualty company in the U.S. The company provides insurance coverage for standard commercial lines, specialty lines, surety, marine and other property and casualty coverages.
CNA Financial has been intensifying its focus on core business and as such has been divesting the non-core operations. Besides aligning International operations, the company is also expanding its underwriting capabilities. CNA Financial remains focused on expense management to facilitate margin expansion.
Currently, CNA Financial has a Zacks Rank #2 (Buy), but that could definitely change following its earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below. You can see the complete list of today’s Zacks Rank #1 stocks here.
How was the Bottom Line?
CNA Financial beats estimates. Our consensus called for EPS of 84 cents per share, and the company reported EPS of $1.15 per share.
CNA FINL CORP Price and EPS Surprise
CNA FINL CORP Price and EPS Surprise | CNA FINL CORP Quote
Key Stats to Note
• P&C combined ratio excluding catastrophe and development was 97.5% compared to 95.5% in the prior year quarter.
• Net operating income was $311 million, which soared 48.1% from $210 million in the year ago quarter.
• Book value (excluding AOCI) as of Sep 30, 2016 was $44.21 per share, down 0.9% from Dec 31, 2015.
• Quarterly dividend declared was 25 cents per share.
Check back later for our full write up on this CNA earnings report later!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>