Yahoo Finance HCI Group (HCI) Beats Stock Market Upswing: What Investors Need to Know
HCI Group (HCI) closed the latest trading day at $114.79, indicating a +1.35% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 1.2% for the day. Elsewhere, the Dow saw an upswing of 0.69%, while the tech-heavy Nasdaq appreciated by 1.59%.
Heading into today, shares of the property and casualty insurance holding company had lost 3.43% over the past month, outpacing the Finance sector's loss of 5.68% and the S&P 500's loss of 4.16% in that time.
Market participants will be closely following the financial results of HCI Group in its upcoming release. The company plans to announce its earnings on May 8, 2024. The company is forecasted to report an EPS of $2.74, showcasing an 82.67% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $189.17 million, up 46.61% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.33 per share and revenue of $796.57 million. These totals would mark changes of +39.41% and +44.65%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for HCI Group. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.01% higher. As of now, HCI Group holds a Zacks Rank of #1 (Strong Buy).
Looking at valuation, HCI Group is presently trading at a Forward P/E ratio of 10.97. This denotes a discount relative to the industry's average Forward P/E of 13.32.
The Insurance - Property and Casualty industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 53, positioning it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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HCI Group, Inc. (HCI) : Free Stock Analysis Report
