Insurance and technology company HCI Group (NYSE:HCI) will be announcing earnings results this Thursday afternoon. Here’s what to expect.
HCI Group missed analysts’ revenue expectations last quarter, reporting revenues of $242.9 million, up 12.2% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ book value per share estimates and a solid beat of analysts’ net premiums earned estimates.
Is HCI Group a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting HCI Group’s revenue to grow 8.4% year on year, in line with the 7.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. HCI Group has missed Wall Street’s revenue estimates multiple times 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 14%, beating analysts’ expectations by 10.3%, and First American Financial reported revenues up 15%, topping estimates by 3.4%. First American Financial traded down 2.2% following the results.
Read our full analysis of Mercury General’s results here and First American Financial’s results here.
Investors in the property & casualty insurance segment have had steady hands going into earnings, with share prices up 1.7% on average over the last month. HCI Group is down 1.6% during the same time and is heading into earnings with an average analyst price target of $238.33 (compared to the current share price of $178.82).
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