Ace (ACE) is expected to report Q2 earnings after market close Tuesday, July 29, with a conference call scheduled for Wednesday, July 30 at 8:30 a.m. ET.
Analysts are looking for EPS of $1.90 on revenue of $3.38B. The consensus range for EPS is $1.40 to $2.05, while the consensus range for revenue is $3.12B to $3.59B, according to First Call.
In recent weeks several research firms have issued positive notes about Ace. Last week, J.P. Morgan added the insurer to their Focus List and maintained their Overweight rating on the shares. The firm cited the company's diversified products and geographically mixed customer base, as well as its understated balance sheet. Lehman Brothers last week called the weakness of Ace's stock a buying opportunity following the company's removal from the S&P 500 and the Russell Index. The firm maintained their Outperform rating.
On July 11 Wachovia predicted that Ace would have a strong Q2. The firm forecasts that Ace's results will not be impacted by catastrophic events or poor investments. Wachovia also believes that Ace's diversified business mix and its unrealized reserve redundancies create a buying opportunity, following weakness in the stock in the wake of the company's removal from the S&P 500 and the Russell Index. Wachovia maintained their Outperform rating