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By: Dividend Daily
July 23, 2013 at 16:21 PM EDT
ACE Easily Beats EPS, Gives Weak Guidance (ACE)
ACE Limited (ACE) revealed Q2 earnings today just after the trading session came to a close.
The Zurich-based firm revealed a much stronger than expected EPS of $2.29, 30 cents higher than analysts were expecting. At the same time, the company predicts 2013 EPS to fall between $7.65 and $8.05; analysts had been expecting that figure to fall at $8.07.
Traders will want to keep a close eye on the company tomorrow at the open as the stock has the potential to move in either direction. On one hand, the earnings figures were great, but a weak guidance can often overshadow strong numbers and send a stock plummeting.
ACE shares were down $2.35, or 2.52%, at Tuesday’s close. The stock started off the day just 2 cents away from its 52-week high.
The Bottom Line
Shares of ACE Limited (ACE) are currently yielding 2.19% based on Tuesday’s closing price of $93.23.
ACE Limited (ACE) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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