Hartford Financial Services Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Hartford Financial Services (NYSE:HIG) will unveil its latest earnings on Wednesday, November 2, 2011. Hartford Financial Services Group 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 23 cents per share, a decline of 83.9% 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 92 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 70 cents during the last month. Analysts are projecting profit to rise by 30.4% versus last year to $2.31.

Past Earnings Performance: Last quarter, the company missed estimates by one cent, coming in at 0 cents per share versus a mean estimate of net income of one cent per share. In the first quarter, the company beat estimates by 21 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of more than twofold in revenue from the year-earlier quarter to $5.8 billion.

Analyst Ratings: Analysts seem relatively indifferent about Hartford Financial Services with nine of 16 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, profit fell 68.4% to $24 million (3 cents a share) from $76 million (14 cents a share) the year earlier, missing analyst expectations. Revenue rose 61.9% to $5.4 billion from $3.34 billion.

Key Stats:

A year-over-year revenue increase in the second quarter snapped a streak of two consecutive quarters of revenue declines. Revenue fell 0.2% in the first quarter and 6% in the fourth quarter of the last fiscal year.

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 September 29, 2011 to October 27, 2011, the stock price had risen $3.16 (18.5%) from $17.11 to $20.27. 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% (+$2.69) over that span. It saw one of its worst periods between August 15, 2011 and August 23, 2011 when shares fell for seven-straight days, falling 18.6% (-$3.82) over that span. Shares are down $5.89 (-22.5%) year to date.

(Source: Xignite Financials)

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