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HCI Group (HCI) Falls More Steeply Than Broader Market: What Investors Need to Know

HCI Group (HCI) closed at $109.91 in the latest trading session, marking a -1.69% move from the prior day. This change lagged the S&P 500's 0.58% loss on the day. At the same time, the Dow lost 0.12%, and the tech-heavy Nasdaq lost 1.15%.

Prior to today's trading, shares of the property and casualty insurance holding company had gained 1.3% over the past month. This has outpaced the Finance sector's loss of 6.34% and the S&P 500's loss of 1.09% in that time.

The investment community will be paying close attention to the earnings performance of HCI Group in its upcoming release. The company is slated to reveal its earnings on May 8, 2024. The company is expected to report EPS of $2.74, up 82.67% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $189.17 million, indicating a 46.61% growth compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $10.33 per share and revenue of $796.57 million, which would represent changes of +39.41% and +44.65%, respectively, from the prior year.

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It's also important for investors to be aware of any recent modifications to analyst estimates for HCI Group. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate has moved 1.01% higher within the past month. 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 10.83. This denotes a discount relative to the industry's average Forward P/E of 12.87.

The Insurance - Property and Casualty industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 49, finds itself in the top 20% echelons 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.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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HCI Group, Inc. (HCI) : Free Stock Analysis Report

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