Analysts Anticipate CNO Financial Group Inc (CNO) Will Post Quarterly Sales of $978.30 Million

Brokerages predict that CNO Financial Group Inc (NYSE:CNO) will report sales of $978.30 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for CNO Financial Group’s earnings. The lowest sales estimate is $940.10 million and the highest is $1.02 billion. CNO Financial Group reported sales of $1.09 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 10.2%. The business is scheduled to announce its next earnings report on Tuesday, February 12th.

According to Zacks, analysts expect that CNO Financial Group will report full-year sales of $4.05 billion for the current financial year, with estimates ranging from $3.98 billion to $4.11 billion. For the next fiscal year, analysts forecast that the firm will report sales of $4.03 billion, with estimates ranging from $3.84 billion to $4.15 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover CNO Financial Group.

CNO Financial Group (NYSE:CNO) last announced its earnings results on Wednesday, October 31st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $999.03 million. CNO Financial Group had a positive return on equity of 7.89% and a negative net margin of 8.95%. CNO Financial Group’s revenue for the quarter was up 37.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 earnings per share.

A number of brokerages have recently issued reports on CNO. Zacks Investment Research raised CNO Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, August 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $24.00 target price on shares of CNO Financial Group in a research report on Friday, August 17th. ValuEngine raised CNO Financial Group from a “strong sell” rating to a “sell” rating in a research report on Monday, November 12th. Finally, TheStreet lowered CNO Financial Group from a “b” rating to a “c” rating in a research report on Thursday, November 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $23.75.

In related news, EVP Matthew J. Zimpfer sold 17,417 shares of the company’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $18.46, for a total transaction of $321,517.82. Following the transaction, the executive vice president now directly owns 137,580 shares of the company’s stock, valued at $2,539,726.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen N. David purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The shares were acquired at an average cost of $18.50 per share, for a total transaction of $37,000.00. Following the completion of the transaction, the director now directly owns 19,706 shares of the company’s stock, valued at approximately $364,561. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position in CNO Financial Group by 1,236.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 8,967 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 8,296 shares during the last quarter. US Bancorp DE increased its position in CNO Financial Group by 30.4% in the 3rd quarter. US Bancorp DE now owns 11,685 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 2,722 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in CNO Financial Group in the 3rd quarter worth about $266,000. PNC Financial Services Group Inc. increased its position in CNO Financial Group by 58.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 13,396 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 4,966 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in CNO Financial Group in the 2nd quarter worth about $264,000. 94.18% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CNO Financial Group stock traded down $0.07 on Friday, reaching $18.23. 794,494 shares of the company were exchanged, compared to its average volume of 1,019,383. The firm has a market capitalization of $3.01 billion, a PE ratio of 9.02 and a beta of 1.11. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.71. CNO Financial Group has a fifty-two week low of $17.63 and a fifty-two week high of $26.47.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 24th. Investors of record on Monday, December 10th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, December 7th. CNO Financial Group’s payout ratio is 19.80%.

CNO Financial Group Company Profile

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. It operates through Bankers Life, Washington National, Colonial Penn, and Long-Term Care in Run Off segments.

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Earnings History and Estimates for CNO Financial Group (NYSE:CNO)

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