HCI Group (HCI) Stock Declines Ahead of Upcoming Earnings Report

HCI Group (HCI) experienced a decline in its stock value, closing at $90.09 during the latest trading session, which represents a 1.12% decrease from the previous day. This performance was weaker compared to the overall market, with the S&P 500 registering a 0.78% drop, the Dow declining by 1.29%, and the Nasdaq experiencing a 0.7% decrease. HCI Group’s stock had also faced challenges in the past month, with a 1.55% loss, lagging behind the Finance sector’s 0.59% decline and the S&P 500’s 2.14% increase during the same period. Investors are eagerly awaiting HCI Group’s upcoming earnings report, scheduled for August 8, 2024, wherein the company is expected to show significant growth compared to the previous year.

HCI Group is anticipated to report an earnings per share (EPS) of $3.58, indicating a substantial 193.44% increase from the same quarter last year. Additionally, the Zacks Consensus Estimates project a quarterly revenue of $196.67 million, reflecting a 54.46% growth from the year-ago period. For the full fiscal year, HCI Group is estimated to achieve earnings of $11.63 per share and revenue of $772.94 million, showcasing growth percentages of +56.95% and +40.36%, respectively, from the prior year. The company is currently holding a Zacks Rank of #4 (Sell), with a Forward Price/Earnings ratio of 7.83, offering a discount compared to its industry average of 13.34. It belongs to the Insurance – Property and Casualty industry within the Finance sector, with a Zacks Industry Rank of 59, positioning it in the top 24% among all industries. Investors are advised to closely monitor these key metrics and stay updated on HCI Group’s performance for informed decision-making.