CNO Financial Group, Inc. (NYSE:CNO) Expected to Announce Quarterly Sales of $916.09 Million

Wall Street analysts expect CNO Financial Group, Inc. (NYSE:CNO – Get Rating) to report $916.09 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for CNO Financial Group’s earnings. The lowest sales estimate is $915.70 million and the highest is $916.47 million. CNO Financial Group reported sales of $1.07 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 14.4%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that CNO Financial Group will report full-year sales of $3.63 billion for the current fiscal year, with estimates ranging from $3.59 billion to $3.67 billion. For the next fiscal year, analysts forecast that the company will report sales of $3.68 billion, with estimates ranging from $3.65 billion to $3.71 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow CNO Financial Group.

CNO Financial Group (NYSE:CNO – Get Rating) last issued its earnings results on Monday, May 2nd. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.15). CNO Financial Group had a return on equity of 7.00% and a net margin of 10.25%. The firm had revenue of $842.90 million during the quarter, compared to the consensus estimate of $915.85 million. During the same period last year, the firm posted $0.55 earnings per share.

Several research analysts recently commented on the company. StockNews.com assumed coverage on CNO Financial Group in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Jefferies Financial Group assumed coverage on CNO Financial Group in a research report on Tuesday, January 25th. They issued a “hold” rating and a $25.00 price target for the company. B. Riley reiterated a “buy” rating on shares of CNO Financial Group in a research report on Friday, March 4th. Morgan Stanley dropped their price target on CNO Financial Group from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday, April 8th. Finally, Zacks Investment Research lowered CNO Financial Group from a “hold” rating to a “strong sell” rating and set a $17.00 price target for the company. in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.25.

Shares of CNO stock opened at $20.15 on Thursday. CNO Financial Group has a 12-month low of $19.47 and a 12-month high of $27.33. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.75. The stock’s 50-day moving average price is $23.93 and its 200-day moving average price is $24.30. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 6.28 and a beta of 1.19.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, June 10th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Thursday, June 9th. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.13. CNO Financial Group’s payout ratio is 16.20%.

In other CNO Financial Group news, Director Frederick James Sievert sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $21.56, for a total transaction of $64,680.00. Following the completion of the transaction, the director now owns 62,421 shares in the company, valued at $1,345,796.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in CNO Financial Group by 486.5% in the fourth quarter. JPMorgan Chase & Co. now owns 6,984,494 shares of the financial services provider’s stock worth $166,510,000 after buying an additional 5,793,528 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in CNO Financial Group in the fourth quarter worth approximately $31,348,000. Norges Bank bought a new position in CNO Financial Group in the fourth quarter worth approximately $28,741,000. Easterly Investment Partners LLC bought a new position in CNO Financial Group in the third quarter worth approximately $19,233,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in CNO Financial Group in the first quarter worth approximately $15,315,000. Hedge funds and other institutional investors own 96.18% of the company’s stock.

CNO Financial Group Company Profile (Get Rating)

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 offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.

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