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HCI Group (HCI) Surges 4.2%: Is This an Indication of Further Gains?
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HCI Group (HCI - Free Report) shares soared 4.2% in the last trading session to close at $180.46. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 12.1% gain over the past four weeks.
This Florida-focused insurance business has been growing its homeowners business, acquiring profitable books of business, proactively managing risk and loss costs and deploying excess capital into investments and growth initiatives.
The company also benefits from favorable industry dynamics as larger national insurers continue reducing exposure in high-risk coastal markets, creating opportunities for premium growth and market share expansion.
Additionally, HCI’s real estate and technology subsidiaries provide diversification beyond traditional insurance operations.
This property and casualty insurance holding company is expected to post quarterly earnings of $5.08 per share in its upcoming report, which represents a year-over-year change of -1.9%. Revenues are expected to be $240.67 million, up 8.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For HCI Group, the consensus EPS estimate for the quarter has been revised 1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on HCI going forward to see if this recent jump can turn into more strength down the road.
HCI Group is a member of the Zacks Insurance - Property and Casualty industry. One other stock in the same industry, Universal Insurance Holdings (UVE - Free Report) , finished the last trading session 4.2% higher at $41.13. UVE has returned 5.1% over the past month.
Universal Insurance's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.43. Compared to the company's year-ago EPS, this represents a change of +16.3%. Universal Insurance currently boasts a Zacks Rank of #3 (Hold).
View the Zacks #1 Rank List
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HCI Group (HCI) Surges 4.2%: Is This an Indication of Further Gains?
HCI Group (HCI - Free Report) shares soared 4.2% in the last trading session to close at $180.46. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 12.1% gain over the past four weeks.
This Florida-focused insurance business has been growing its homeowners business, acquiring profitable books of business, proactively managing risk and loss costs and deploying excess capital into investments and growth initiatives.
The company also benefits from favorable industry dynamics as larger national insurers continue reducing exposure in high-risk coastal markets, creating opportunities for premium growth and market share expansion.
Additionally, HCI’s real estate and technology subsidiaries provide diversification beyond traditional insurance operations.
This property and casualty insurance holding company is expected to post quarterly earnings of $5.08 per share in its upcoming report, which represents a year-over-year change of -1.9%. Revenues are expected to be $240.67 million, up 8.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For HCI Group, the consensus EPS estimate for the quarter has been revised 1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on HCI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
HCI Group is a member of the Zacks Insurance - Property and Casualty industry. One other stock in the same industry, Universal Insurance Holdings (UVE - Free Report) , finished the last trading session 4.2% higher at $41.13. UVE has returned 5.1% over the past month.
Universal Insurance's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.43. Compared to the company's year-ago EPS, this represents a change of +16.3%. Universal Insurance currently boasts a Zacks Rank of #3 (Hold).