Hartford Financial Services Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Hartford Financial Services (NYSE:HIG) will unveil its latest earnings on Wednesday, August 3, 2011. Hartford Financial Services Group Inc. provides investment products and insurance products in the United States.

Hartford Financial Services Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of one cent per share, a decline of 98.9% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 94 cents. Between one and three months ago, the average estimate moved down and dropped from 79 cents during the last month. For the year, analysts are projecting net income of $3.07 per share, a decline of 7.5% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 21 cents, reporting profit of $1.16 per share against a mean estimate of net income of 95 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $5.96 billion in revenue this quarter, a rise of more than twofold from the year ago quarter. Analysts are forecasting total revenue of $23.75 billion for the year, a rise of more than twofold from last year’s revenue of $9.68 billion.

Analyst Ratings: Analysts seem relatively indifferent about Hartford Financial Services with 10 of 17 analysts surveyed maintaining a hold rating.

Key Stats:

Revenue has fallen in the past two quarters. In first quarter, revenue declined 0.2% to $6.31 billion from the year earlier quarter. In the fourth quarter of the last fiscal year, the figure fell 6%.

Competitors to Watch: American Intl. Group, Inc. (NYSE:AIG), HCC Insurance Hldgs., Inc. (NYSE:HCC), American Financial Group (NYSE:AFG), RLI Corp. (NYSE:RLI), Selective Insurance Group (NASDAQ:SIGI), Assurant, Inc. (NYSE:AIZ), First Mercury Financial Corp. (NYSE:FMR), The Travelers Companies, Inc. (NYSE:TRV), CNA Financial Corporation (NYSE:CNA), and Hallmark Financial Services, Inc. (NASDAQ:HALL).

Stock Price Performance: During May 3, 2011 to July 28, 2011, the stock price had fallen $5.09 (-17.9%) from $28.47 to $23.38. The stock price saw one of its best stretches over the last year between June 23, 2011 and July 1, 2011 when shares rose for seven-straight days, rising 11.1% (+$2.70) over that span. It saw one of its worst periods between May 18, 2011 and May 25, 2011 when shares fell for six-straight days, falling 4.2% (-$1.15) over that span. Shares are down $2.92 (-11.1%) year to date.

(Source: Xignite Financials)

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