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CNO Financial Group, Inc. CNO benefits from a diversified product portfolio, strategic acquisitions, technological advancements, improved insurance policy income and robust cash generation abilities. A solid earnings per share (EPS) outlook for 2024 also reinforces investors’ confidence in the stock.
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CNO Financial currently carries a Zacks Rank #2 (Buy).
The stock has gained 32.2% in the past year compared with the industry’s 16.1% growth. The Zacks Finance sector has increased 18.3% while the S&P 500 composite has risen 27.3% in the same time frame.
Image Source: Zacks Investment Research
CNO carries an impressive Value Score of A. Value Score helps find stocks that are undervalued. Back-tested results have shown so far that stocks with a favorable Value Score in combination with a solid Zacks Rank are the best investment bets.
The Zacks Consensus Estimate for CNO Financial’s 2024 earnings is pegged at $3.73 per share, indicating growth of 20.7% from the prior-year figure. The consensus mark for 2025 earnings is $3.76 per share, indicating an improvement of 0.6% from the 2024 estimate.
The Zacks Consensus Estimate for 2024 earnings has been revised upward 8.7% in the past 60 days.
CNO Financial’s bottom line outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 24.51%.
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Return on equity in the trailing 12 months is currently 17.5% for CNO, which is higher than the industry’s average of 15.3%. This substantiates the company’s efficiency in utilizing shareholders’ funds.
Management anticipates operating EPS to be in the range of $3.50-$3.60 for 2024, the mid-point of which implies a nearly 15% rise from the 2023 figure.
CNO Financial stands to benefit from its diversified product portfolio, which includes annuity, health and life insurance offerings. This broad range of products enables the company to effectively manage risks while maintaining a steady stream of premium income, a key revenue driver. In the first nine months of 2024, insurance policy income accounted for approximately 57% of CNO’s total revenues.
The company’s focus on introducing new products and upgrading existing ones to meet evolving market demands is expected to drive insurance premium growth in the future. CNO Financial leverages acquisitions and partnerships to broaden its product and service offerings, expand its customer base and extend its geographic footprint.
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