Citizens (CIA – Free Report) shares ended the last trading session 5.9% higher at $5.53. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock’s 23.7% gain over the past four weeks.
The insurer is poised to grow on competitive advantages in expanding niche markets globally, rapid sales force expansion, and expertise in profitable product development.
Its low risk business model and conservative balance sheet management ensures financial strength. Its debt free balance sheet, access to $20 million line of credit and cash inflows for two decades provides liquidity to support growth initiatives.
This insurance company is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of -52.4%. Revenues are expected to be $65.24 million, down 0.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Citizens, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CIA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
Citizens is a member of the Zacks Insurance – Life Insurance industry. One other stock in the same industry, GoHealth (GOCO – Free Report) , finished the last trading session 2.7% lower at $15.79. GOCO has returned 10.6% over the past month.
For GoHealth
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