Hartford Financial Services Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Hartford Finl Svcs (NYSE:HIG) will unveil its latest earnings on Thursday, November 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 81 cents per share, a rise of 1520% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 78 cents. Between one and three months ago, the average estimate moved down. It has risen from 74 cents during the last month. Analysts are projecting profit to rise by 64.4% compared to last year’s $3.19.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the second quarter, the company reported profit of 23 cents per share versus a mean estimate of net income of 48 cents per share. In the first quarter, the company beat estimates by 32 cents.

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A Look Back: In the second quarter, the company swung to a loss of $101 million (26 cents a share) from a profit of $24 million (3 cents) a year earlier, missing analyst expectations. Revenue fell 15.3% to $4.57 billion from $5.4 billion.

Wall St. Revenue Expectations: Analysts predict a rise of 55.1% in revenue from the year-earlier quarter to $7.01 billion.

Stock Price Performance: Between August 2, 2012 and October 26, 2012, the stock price rose $5.55 (34.3%), from $16.16 to $21.71. 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 rebound after a revenue drop last quarter. Revenue rose 21.4% in the the first quarter after dropping in the second quarter.

Analyst Ratings: There are mostly holds on the stock with seven of 13 analysts surveyed giving that rating.

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

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