Insurance and technology company HCI Group (NYSE:HCI) will be reporting earnings this Thursday afternoon. Here’s what you need to know.
HCI Group met analysts’ revenue expectations last quarter, reporting revenues of $216.4 million, up 4.8% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ book value per share estimates and an impressive beat of analysts’ EPS estimates.
Is HCI Group a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting HCI Group’s revenue to grow 6.4% year on year to $219.4 million, slowing from the 62% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.50 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. HCI Group has missed Wall Street’s revenue estimates twice over the last two years.
Looking at HCI Group’s peers in the property & casualty insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Mercury General delivered year-on-year revenue growth of 13.2%, beating analysts’ expectations by 2%, and Allstate reported revenues up 6%, falling short of estimates by 0.7%. Mercury General’s stock price was unchanged after the resultswhile Allstate was up 5.7%.
Read our full analysis of Mercury General’s results here and Allstate’s results here.
Investors in the property & casualty insurance segment have had fairly steady hands going into earnings, with share prices down 2% on average over the last month. HCI Group is down 2.8% during the same time and is heading into earnings with an average analyst price target of $202.50 (compared to the current share price of $140.20).
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