Kingstone Cos Inc Up 12.08% To $4.36 After Earnings Beat

Thursday, March 28, 2024 - Kingstone Cos Inc (KINS) reported upside earnings and downside revenues.

Kingstone Cos Inc's earnings came in at an EPS of $0.15 per share. The firm's earnings are up 142% since reporting losses of $0.36 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus estimates for Kingstone Cos Inc revenue averaged out to $29.7 million, with the business missing on those expectations with reported fourth-quarter revenue of $28.7 million. The $967 thousand (3%) negative revenue surprise led to negative 6% growth year-over-year as the firm reported revenue of $30.4 million in its year-ago quarter. The higher earnings growth compared to revenue points to Kingstone Cos Inc improving its profit margin.

The stock is up 12.08% to $4.36 after the report.

Kingstone Cos Inc's profit margins took a hit as earnings fell at a faster pace than revenues.

InvestorsObserver gives the stock a Neutral Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 62.

Kingstone Companies Inc is a multi-line regional property and casualty insurance holding company. It offers insurance policies to small and mid-sized businesses as well as to individuals.