What to Expect:
The consensus estimate has increased over the past month, from 39 cents, but it’s below the estimate of 50 cents from three months ago. For the fiscal year, analysts are projecting earnings of $1.86 per share. A year after being $1.61 billion, analysts expect revenue to fall 4% year-over-year to $1.55 billion for the quarter. For the year, revenue is expected to come in at $6.26 billion.
Trends to Watch For:
The company has seen revenue grow for three quarters straight. The 8.8% revenue increase brought the figure up to $1.73 billion in the most recent quarter. Looking back further, revenue increased 2.3% in the third quarter of the last fiscal year from the year earlier and 9.2% in the second quarter of the last fiscal year.
XL’s two-quarter streak of profitability was snapped by last quarter’s loss. The company reported a loss of $515.5 million in the fourth quarter of the last fiscal year and a profit of $42.4 million in the third quarter of the last fiscal year and profit of $225.7 million in the second quarter of the last fiscal year.
Analyst Ratings:
The majority of analysts (52.9%) rate XL as a buy. This compares favorably to the analyst ratings of its nearest nine competitors, which average 45.1% buys. Wall Street has warmed to the stock over the past three months, with the average analyst estimate increasing to moderate buy from hold. Last quarter, eight of 18 rated it a buy and zero rated it a sell.
Competitors:
XL Group is a public limited company based in Dublin, Ireland that provides property, casualty and specialty products to industrial, commercial and professional firms worldwide. One of XL’s main competitors in the insurance industry is Travelers Cos (TRV). Other competitors in the financials sector include: Arch Capital Group (ACGL), PartnerRe (PRE), and Axis Capital Holdings (AXS).
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