Kinsale Capital (KNSL) has emerged as a prominent player in the insurance market, garnering attention as an IBD Stock of the Day. With its stock price inching closer to a buy point, Wall Street analysts are optimistic about the company’s projected 30% earnings growth in the fourth quarter.
Based in Virginia, Kinsale Capital specializes in providing casualty, property, professional lines, and transportation insurance products, with a focus on the excess and surplus lines market in the United States. The company offers comprehensive coverage across various industries, ranging from cannabis to construction. Its specialty casualty unit caters to energy, entertainment, environmental, and life sciences sectors, as well as product recall and liability. Additionally, Kinsale Capital has a robust presence in the healthcare sector, offering health and public entities coverage.
Since its initial listing on the Nasdaq in 2016, Kinsale Capital has witnessed significant growth. In January 2022, the company moved its trading to the New York Stock Exchange while retaining its ticker symbol. Kinsale Capital has consistently delivered impressive earnings growth, averaging over 67% growth in earnings per share (EPS) over the past three quarters, with a remarkable 100% gain in Q3. Analysts predict a 30% increase in Q4 earnings, amounting to $3.39 per share, and anticipate a 38% rise in total revenue to $336 million.
Looking ahead, Kinsale Capital is projected to sustain its growth trajectory. Wall Street forecasts a 20% growth in EPS for 2024 compared to projected 2023 levels and a staggering 84% growth compared to 2022 earnings. According to FactSet, analysts expect Kinsale Capital’s profits to continue rising, with an additional 40% growth by 2026.
In terms of stock performance, KNSL has outperformed the S&P 500 index, gaining around 19% in 2024 after a remarkable 52% surge last year. Currently trading slightly below its buy point of 411.32, Kinsale Capital stock has been consistently trading above its 200-day moving average since January 2022.
With a solid track record and a promising future, Kinsale Capital is making waves in the insurance industry. Its impressive growth trajectory and diverse range of coverage make it an attractive investment opportunity for both short-term and long-term investors. As the company prepares to announce its earnings and revenue on February 15, all eyes are on Kinsale Capital, eager to see if it can sustain its upward trajectory in the coming months.
Frequently Asked Questions (FAQ): Kinsale Capital
What is Kinsale Capital?
Kinsale Capital (KNSL) is an insurance company based in Virginia that specializes in providing casualty, property, professional lines, and transportation insurance products. It focuses on the excess and surplus lines market in the United States.
What industries does Kinsale Capital provide coverage for?
Kinsale Capital offers comprehensive coverage across various industries, including cannabis, construction, energy, entertainment, environmental, life sciences, product recall, liability, and healthcare.
What has been Kinsale Capital’s recent growth?
Since its listing on the Nasdaq in 2016, Kinsale Capital has experienced significant growth. It moved its trading to the New York Stock Exchange in January 2022 while retaining its ticker symbol. The company has consistently delivered impressive earnings growth, with an average of over 67% growth in earnings per share (EPS) over the past three quarters.
What are the projected earnings growth and revenue for Kinsale Capital?
Analysts predict a 30% increase in fourth-quarter earnings, amounting to $3.39 per share, and anticipate a 38% rise in total revenue to $336 million. Looking ahead, Wall Street analysts project a 20% growth in EPS for 2024 compared to projected 2023 levels and an 84% growth compared to 2022 earnings. Analysts also expect an additional 40% growth in profits by 2026.
How has Kinsale Capital’s stock performance been?
KNSL has outperformed the S&P 500 index, gaining around 19% in 2024 after a 52% surge in the previous year. Currently trading slightly below its buy point of $411.32, Kinsale Capital stock has been consistently trading above its 200-day moving average since January 2022.
Why is Kinsale Capital attracting attention in the insurance industry?
Kinsale Capital’s impressive growth trajectory, diverse range of coverage, and solid track record make it an attractive investment opportunity for both short-term and long-term investors. The company’s projected earnings growth and revenue increases have garnered attention from Wall Street analysts.
When will Kinsale Capital announce its earnings and revenue?
Kinsale Capital is scheduled to announce its earnings and revenue on February 15. Many are eagerly awaiting the release to see if the company can sustain its upward trajectory in the coming months.
Key terms:
– Excess and surplus lines market: Refers to the segment of the insurance market that provides coverage for risks that are typically not covered by standard insurance policies.
– Earnings per share (EPS): a financial metric that indicates the portion of a company’s profit allocated to each outstanding share of common stock.
– Ticker symbol: The unique series of letters assigned to a publicly traded company’s stock for identification purposes on a stock exchange.