Zacks: Brokerages Anticipate CNO Financial Group Inc (CNO) Will Announce Earnings of $0.50 Per Share

Wall Street analysts predict that CNO Financial Group Inc (NYSE:CNO) will report earnings per share of $0.50 for the current fiscal quarter, Zacks reports. Two analysts have made estimates for CNO Financial Group’s earnings, with estimates ranging from $0.48 to $0.51. CNO Financial Group posted earnings per share of $0.49 in the same quarter last year, which indicates a positive year over year growth rate of 2%. The company is scheduled to issue its next earnings report on Wednesday, August 7th.

According to Zacks, analysts expect that CNO Financial Group will report full-year earnings of $2.02 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.05. For the next fiscal year, analysts forecast that the business will post earnings of $2.30 per share, with EPS estimates ranging from $2.25 to $2.35. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover CNO Financial Group.

CNO Financial Group (NYSE:CNO) last announced its earnings results on Monday, April 29th. The financial services provider reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.04). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $951.93 million. CNO Financial Group had a positive return on equity of 7.75% and a negative net margin of 8.03%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share.



A number of analysts have recently weighed in on CNO shares. ValuEngine upgraded shares of CNO Financial Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 8th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $21.00 target price on shares of CNO Financial Group in a report on Thursday, February 14th. Finally, Zacks Investment Research downgraded shares of CNO Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $21.00.

CNO traded up $0.14 during midday trading on Tuesday, hitting $16.56. 18,027 shares of the company were exchanged, compared to its average volume of 1,068,116. The company has a market capitalization of $2.71 billion, a PE ratio of 9.11 and a beta of 1.29. CNO Financial Group has a 1-year low of $13.64 and a 1-year high of $22.54. The company has a current ratio of 0.25, a quick ratio of 0.26 and a debt-to-equity ratio of 0.67.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be issued a $0.11 dividend. The ex-dividend date is Friday, June 7th. This is an increase from CNO Financial Group’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.66%. CNO Financial Group’s payout ratio is 21.86%.

In related news, insider Gerardo Monroy sold 16,055 shares of the company’s stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $16.25, for a total transaction of $260,893.75. Following the transaction, the insider now directly owns 22,140 shares in the company, valued at approximately $359,775. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Erik M. Helding sold 11,845 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $16.08, for a total transaction of $190,467.60. Following the transaction, the chief financial officer now owns 78,445 shares in the company, valued at $1,261,395.60. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Loews Corp grew its holdings in CNO Financial Group by 37.3% during the 1st quarter. Loews Corp now owns 13,904 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 3,779 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of CNO Financial Group by 5.4% in the first quarter. Lazard Asset Management LLC now owns 57,246 shares of the financial services provider’s stock worth $926,000 after acquiring an additional 2,951 shares during the period. CNA Financial Corp increased its stake in shares of CNO Financial Group by 135.4% in the first quarter. CNA Financial Corp now owns 110,159 shares of the financial services provider’s stock worth $1,782,000 after acquiring an additional 63,370 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of CNO Financial Group by 90.3% in the first quarter. The Manufacturers Life Insurance Company now owns 365,328 shares of the financial services provider’s stock worth $5,911,000 after acquiring an additional 173,371 shares during the period. Finally, Northern Trust Corp increased its stake in shares of CNO Financial Group by 0.3% in the first quarter. Northern Trust Corp now owns 4,275,530 shares of the financial services provider’s stock worth $69,178,000 after acquiring an additional 12,477 shares during the period. Institutional investors own 96.79% of the company’s stock.

About CNO Financial Group

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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