Kingstone Cos Inc Up 2.56% To $1.20 After Earnings Miss

Kingstone Companies Inc (KINS) missed earnings estimates for Q2 2023 this afternoon.

The consensus among analysts for Kingstone Cos Inc was for an earnings per share (EPS) loss of $0.01 per share. The firm failed to meet those projections, reporting an EPS loss of $0.06 per share, a negative surprise of $0.05 (-500%). Profits rose 65% year-over-year after reporting an EPS loss of $0.17 per share in its year-ago quarter. The positive growth rate signals that the Financial Services company is performing well amid recent economic conditions.

Consensus estimates for Kingstone Cos Inc revenue averaged out to $29 million, with the business managing to beat those expectations with reported second-quarter revenue of $29.5 million. The $488 thousand (2%) positive revenue surprise led to 6% growth year-over-year as the firm reported revenue of $27.9 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 2.56% to $1.20 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

Trading in the five days leading up to the report earned Kingstone Cos Inc a Bullish Sentiment Rank from InvestorsObserver.

Kingstone Cos Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 15, putting Kingstone Cos Inc in the bottom 25% of stocks. The firm set a 52-week low on November 16, 2022 at $0.69 and set a 52-week high on August 11, 2022 at $4.22.

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.