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CNA Financial (CNA) Q3 Earnings Beat Estimates, Down Y/Y
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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 carries a Zacks Rank #4 (Sell), but that could definitely change following its earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. We have highlighted some of the key stats from this just-revealed announcement below:
How was the Bottom Line?
CNA Financial beat estimates. Our consensus called for EPS of 51 cents per share, and the company reported EPS of 58 cents per share.
• P&C combined ratio excluding catastrophe and development, as of Sep 30, 2017, was 94.6%, improving 290 bps from the year-ago quarter. • Net operating income was $159 million, which plunged 48.9% from the year-ago quarter. • Book value (excluding AOCI) as of Sep 30, 2017 was $44.48 per share, down 0.9% from Dec 31, 2016. • Quarterly dividend declared was 30 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 Estimates, Down 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 carries a Zacks Rank #4 (Sell), but that could definitely change following its earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. We have highlighted some of the key stats from this just-revealed announcement below:
How was the Bottom Line?
CNA Financial beat estimates. Our consensus called for EPS of 51 cents per share, and the company reported EPS of 58 cents per share.
CNA Financial Corporation Price and EPS Surprise
CNA Financial Corporation Price and EPS Surprise | CNA Financial Corporation Quote
Key Stats to Note
• P&C combined ratio excluding catastrophe and development, as of Sep 30, 2017, was 94.6%, improving 290 bps from the year-ago quarter.
• Net operating income was $159 million, which plunged 48.9% from the year-ago quarter.
• Book value (excluding AOCI) as of Sep 30, 2017 was $44.48 per share, down 0.9% from Dec 31, 2016.
• Quarterly dividend declared was 30 cents per share.
Check back later for our full write up on this CNA earnings report later!
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Click here for Zacks' private trades >>