Specialty insurance provider Kinsale Capital Group (NYSE: KNSL) will be reporting results this Thursday afternoon. Here’s what to look for.
Kinsale Capital Group missed analysts’ revenue expectations last quarter, reporting revenues of $466.7 million, up 10.2% year on year. It was a slower quarter for the company, with a significant miss of analysts’ book value per share estimates.
Is Kinsale Capital Group a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Kinsale Capital Group’s revenue to grow 1.6% year on year, slowing from the 22.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Kinsale Capital Group has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Kinsale Capital Group’s peers in the property & casualty insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Travelers posted flat year-on-year revenue, missing analysts’ expectations by 0.9%, and W. R. Berkley reported revenues up 1.2%, falling short of estimates by 1.4%. Travelers traded up 8.9% following the results while W. R. Berkley’s stock price was unchanged.
Read our full analysis of Travelers’s results here and W. R. Berkley’s results here.
There has been positive sentiment among investors in the property & casualty insurance segment, with share prices up 9.2% on average over the last month. Kinsale Capital Group is up 15.2% during the same time and is heading into earnings with an average analyst price target of $347.11 (compared to the current share price of $339.89).
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