Selective Insurance (SIGI) Estimated Third Quarter Earnings Lag

Selective Insurance (SIGI) posted quarterly earnings of $0.99 per share, below the Zacks Consensus estimate of $1.16 per share. This compares to his earnings of $1.18 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report presents an earnings surprise of -14.66%. A quarter ago, the insurance holding company was expected to post his $1.25 earnings per share, but he actually made $1.17 earnings, a -6.40% surprise. I was.

In the last four quarters, the company has beaten consensus EPS forecasts twice.

selective insuranceZacks Insurance – part of the Property and Casualty industry, posted revenue of $920.7 million in the quarter ended September 2022, beating the Zacks Consensus estimate by 1.38%. This compares to last year’s revenue of $864.8 million. The company has beaten consensus earnings estimates four times in the last four quarters.

The sustainability of the immediate share price movement based on recent figures and future earnings projections depends primarily on management’s comments on the financial results.

Selective Insurance shares are up about 16.6% year-to-date, while the S&P 500 is down -19.1%.

What’s next for selective insurance?

Selective insurance has outperformed the market so far this year, but the question on the minds of investors is: what next for equities?

There is no easy answer to this important question, but one reliable metric that can help investors address this is a company’s earnings outlook. This includes not only the current consensus earnings projections for the next quarter, but also how those projections have changed recently.

Empirical studies show a strong correlation between short-term stock price movements and earnings forecast revision trends. Investors can track such revisions themselves or rely on proven valuation tools like Zacks Rank, which has an impressive track record of harnessing the power of revenue forecast revisions.

ahead Financial results announcement, Selective Insurance Quote Correction Trend: Mixed. The magnitude and direction of the revision to estimates could change as per the company’s just-released earnings report, but the current situation translates to a rank #3 (hold) of Zak’s stock. Therefore, the stock is expected to perform in line with the market in the near future.you can see Here is the complete list of today’s #1 (strong buy) Zachs stocks..

It will be interesting to see how estimates for the coming quarters and the current fiscal year change going forward. Current consensus EPS estimates are $1.62 on next quarter earnings of $937.5 million and $5.36 on earnings of $3.6 billion for the current fiscal year.

Investors should be mindful of the fact that industry outlook can also have a significant impact on stock price performance. In terms of Zacks industry ranks, Insurance-General Insurance is currently in the bottom 41% of his Zacks industry of over 250. Our research shows that the top 50% of industries ranked by Zacks are more than twice as good as the bottom 50%.

Another stock in the same industry, Argo Group (ARGO), has yet to report results for the quarter ended September 2022. The results he will be announced on November 7th.

The property and casualty underwriter is expected to post a quarterly loss of $2.13 per share in its next report. This represents a change of -334.1% year-on-year. The quarterly consensus EPS estimate has not changed in the last 30 days.

Argo Group’s revenue is expected to decline 5.3% year-over-year to $505.6 million.

Sachs Names ‘Best Single-to-Double Pick’

Out of thousands of stocks, each of our five Zacks experts picked their favorites to surge +100% or more in the coming months. Out of these five, research director Heraz Mian chose her one with the most explosive advantages.

A little-known chemical company, up 65% from last year, but still cheap. With relentless demand, his skyrocketing earnings forecast for 2022, and a $1.5 billion stock buyback, retail investors are ready to jump in.

The company matches other recent Zacks stock doublings as Boston Beer Company surges +143.0% in just over nine months and NVIDIA surges +175.9% in a year. or may exceed it.

Free: See Top Stock and 4 Runners Up >>

Want the latest recommendations from Zacks Investment Research? Download today the 7 Best Stocks of the Next 30 Days.Click to get this free report

Selective Insurance Group, Inc. (SIGI): Free Stock Analysis Report

Argo Group International Holdings, Ltd. (ARGO): Free Stock Analysis Report

Click here to read this article on Zacks.com.

Zacks Investment Research

The views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.

Leave a Comment