CNO Financial Group Inc (CNO) Expected to Announce Quarterly Sales of $978.30 Million

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Brokerages expect CNO Financial Group Inc (NYSE:CNO) to post sales of $978.30 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for CNO Financial Group’s earnings, with the highest sales estimate coming in at $1.02 billion and the lowest estimate coming in at $940.10 million. CNO Financial Group reported sales of $1.09 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 10.2%. The firm is expected to report its next earnings report on Tuesday, February 12th.

On average, 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 financial year, analysts forecast that the company will post sales of $4.03 billion, with estimates ranging from $3.84 billion to $4.15 billion. Zacks’ sales calculations are an average based on a survey of research 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 for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. CNO Financial Group had a positive return on equity of 7.89% and a negative net margin of 8.95%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $999.03 million. During the same quarter in the previous year, the business earned $0.59 EPS. The company’s revenue was up 37.2% compared to the same quarter last year.

A number of brokerages have recently weighed in on CNO. Zacks Investment Research upgraded CNO Financial Group from a “sell” rating to a “hold” rating in a research note on Monday, August 6th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $24.00 target price on shares of CNO Financial Group in a research note on Friday, August 17th. ValuEngine upgraded CNO Financial Group from a “strong sell” rating to a “sell” rating in a research note on Friday, August 3rd. Finally, TheStreet downgraded CNO Financial Group from a “b” rating to a “c” rating in a research note on Thursday, November 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $23.75.

Shares of NYSE CNO traded down $0.22 during midday trading on Wednesday, reaching $19.00. The company’s stock had a trading volume of 1,242,765 shares, compared to its average volume of 1,008,484. CNO Financial Group has a 12-month low of $18.15 and a 12-month high of $26.47. The company has a market capitalization of $3.13 billion, a PE ratio of 9.41 and a beta of 1.14. The company has a quick ratio of 0.14, a current ratio of 0.26 and a debt-to-equity ratio of 0.71.

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

Large investors have recently bought and sold shares of the stock. Dalton Greiner Hartman Maher & Co. raised its holdings in shares of CNO Financial Group by 6.6% in the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 925,408 shares of the financial services provider’s stock worth $19,637,000 after purchasing an additional 57,550 shares during the period. Private Management Group Inc. raised its holdings in shares of CNO Financial Group by 8.0% in the 2nd quarter. Private Management Group Inc. now owns 331,203 shares of the financial services provider’s stock worth $6,306,000 after purchasing an additional 24,433 shares during the period. Sei Investments Co. raised its holdings in shares of CNO Financial Group by 5,452.8% in the 2nd quarter. Sei Investments Co. now owns 96,729 shares of the financial services provider’s stock worth $1,842,000 after purchasing an additional 94,987 shares during the period. LSV Asset Management raised its holdings in shares of CNO Financial Group by 3.2% in the 2nd quarter. LSV Asset Management now owns 5,953,734 shares of the financial services provider’s stock worth $113,359,000 after purchasing an additional 182,248 shares during the period. Finally, FMR LLC raised its holdings in shares of CNO Financial Group by 2.6% in the 2nd quarter. FMR LLC now owns 528,438 shares of the financial services provider’s stock worth $10,062,000 after purchasing an additional 13,290 shares during the period. 92.49% of the stock is currently owned by institutional investors.

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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