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HCI Group (HCI) Increases Despite Market Slip: Here's What You Need to Know

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HCI Group (HCI - Free Report) closed at $110.22 in the latest trading session, marking a +0.8% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 1.2% for the day. At the same time, the Dow lost 0.65%, and the tech-heavy Nasdaq lost 1.79%.

The property and casualty insurance holding company's shares have seen a decrease of 1.81% over the last month, surpassing the Finance sector's loss of 5.6% and falling behind the S&P 500's loss of 0.85%.

The upcoming earnings release of HCI Group will be of great interest to investors. The company's earnings report is expected on May 8, 2024. The company's earnings per share (EPS) are projected to be $2.74, reflecting an 82.67% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $189.17 million, up 46.61% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.33 per share and a revenue of $796.57 million, signifying shifts of +39.41% and +44.65%, respectively, from the last year.

It's also important for investors to be aware of any recent modifications to analyst estimates for HCI Group. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.01% higher. HCI Group is currently sporting a Zacks Rank of #1 (Strong Buy).

In terms of valuation, HCI Group is currently trading at a Forward P/E ratio of 10.59. For comparison, its industry has an average Forward P/E of 12.8, which means HCI Group is trading at a discount to the group.

The Insurance - Property and Casualty industry is part of the Finance sector. With its current Zacks Industry Rank of 44, this industry ranks in the top 18% of all industries, numbering over 250.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.


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