Insurance services company Assurant (NYSE:AIZ) will be announcing earnings results this Tuesday afternoon. Here’s what to expect.
Assurant beat analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $3.23 billion, up 8.9% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ net premiums earned estimates.
Is Assurant a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Assurant’s revenue to grow 6.4% year on year to $3.30 billion, improving from the 4.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $5.50 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Assurant has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 1.6% on average.
Looking at Assurant’s peers in the property & casualty insurance segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Stewart Information Services delivered year-on-year revenue growth of 19.6%, beating analysts’ expectations by 2.5%, and Allstate reported revenues up 3.4%, topping estimates by 3.5%. Stewart Information Services traded up 2.9% following the results while Allstate was also up 3.9%.
Read our full analysis of Stewart Information Services’s results here and Allstate’s results here.
Investors in the property & casualty insurance segment have had steady hands going into earnings, with share prices flat over the last month. Assurant is up 2.1% during the same time and is heading into earnings with an average analyst price target of $259.33 (compared to the current share price of $243.43).
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