Hartford Financial Services Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Hartford Finl Svcs (NYSE:HIG) will unveil its latest earnings on Wednesday, August 1, 2012. Hartford Financial Services Group provides investment products and insurance products in the United States.

Hartford Finl Svcs Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 49 cents per share after the company broke even in the year-earlier quarter. During the past three months, the average estimate has moved down from 78 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 76 cents during the last month. Analysts are projecting profit to rise by 73.7% compared to last year’s $3.37.

Past Earnings Performance: The company is looking to beat analyst estimates for the third quarter in a row. Last quarter, it beat estimates with profit of $1.25 per share against the mean estimate of 93 cents. In the prior quarter, the company reported net income of 69 cents.

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A Look Back: In the first quarter, profit fell 81.2% to $96 million (18 cents a share) from $511 million ($1.01 a share) the year earlier, but exceeded analyst expectations. Revenue rose 21.4% to $7.66 billion from $6.31 billion.

Wall St. Revenue Expectations: On average, analysts predict $7.89 billion in revenue this quarter, a rise of 46.1% from the year-ago quarter. Analysts are forecasting total revenue of $24.88 billion for the year, a rise of 13.8% from last year’s revenue of $21.87 billion.

Stock Price Performance: Between May 1, 2012 and July 26, 2012, the stock price fell $4.70 (-22.5%), from $20.86 to $16.16. The stock price saw one of its best stretches over the last year between November 29, 2011 and December 7, 2011, when shares rose for seven straight days, increasing 14.3% (+$2.34) over that span. It saw one of its worst periods between May 10, 2012 and May 18, 2012 when shares fell for seven straight days, dropping 13.6% (-$2.68) over that span.

Key Stats:

On the top line, the company is looking to build a positive trend after last quarter’s growth snapped a string of drops. Revenue fell 32.3% in the third quarter of the last fiscal year and 6.9% in the fourth quarter of the last fiscal year before climbing in the first quarter.

Analyst Ratings: With eight analysts rating the stock as a buy, none rating it as a sell and eight rating it as a hold, there are indications of a bullish outlook. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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