CNA Financial Blows Past Earnings Estimates (CNA)

Chicago, Illinois-based CNA Financial Corporation

announced on Monday morning that it easily beat consensus Wall Street earnings estimates. CNA Financial Corporation reported that its 4th quarter net income rose to $302 million, or $1.09 per share, up from $246 million, or 81 cents per share, a year earlier. The company's net operating income came in at $1.18 per share. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 69 cents per share. CNA Financial Corporation (

) closed the previous trading day at $27.74 per share. Analysts covering the company's stock give it a consensus price target of $33.50 per share. Chairman and Chief Executive Officer Thomas F. Motamed said, “We are encouraged by our fourth quarter and full year results. Our Specialty segment continues to deliver superior results in an extremely competitive environment. We continue to be optimistic about the long term prospects of our Commercial segment, which has delivered five consecutive quarters of rate increases, as well as an improving production trend, risk selection and price differentiation.” CNA Financial Corporation is the country's seventh largest commercial insurance writer and the 13th largest property and casualty company. Read more