How did the QBE (ASX:QBE) share price respond last earnings season?

QBE could be in for a wild ride tomorrow morning.
The post How did the QBE (ASX:QBE) share price respond last earnings season? appeared first on The Motley Fool Australia. –

The QBE Insurance Group Ltd (ASX: QBE) share price will be one to watch tomorrow.

The company is due to release its results for the first half of the 2021 calendar year tomorrow morning.

The release of results is always exciting, no matter the company, but eyes will be on QBE in particular tomorrow.

That’s because QBE’s shares have previously reacted positively to the release of its results, even if said results were undesirable.

The insurance company’s shares finished Tuesday’s session trading for $11.62 a piece. But all that could soon change.

Let’s take a look at how the QBE share price moved last time the company released results.

How QBE stock responded last earnings season

The QBE share price might be in for a wild ride tomorrow when the company releases its results for the first half of 2021.

QBE released its latest half year results in August last year. They included a sizeable loss of US$712 million.

However, the company stated it has done better than it expected.

QBE’s half year results included an increase in catastrophe insurance claims.

The claims followed large amounts of damage caused by hail, storms, and bushfires in Australia.

In addition to the natural disasters, COVID-19 made a huge economic impact on Australia, and QBE was among many companies suffering as a result.

The QBE share price gained 6.7% on the back of its 2020 half year results despite the blow to the company’s budget.

The last time the company released results was in February when it issued its full year results for 2020.

QBE reported it lost more than US$1.5 billion over 2020. It also didn’t pay a dividend to its shareholders.

Despite the notable loss, its share price surged 8.8% over the 2 days following the results’ release.

QBE share price snapshot

The QBE share price has been performing well lately.

It’s gained 35% year to date. It has also increased 15% over the past 12 months.

The post How did the QBE (ASX:QBE) share price respond last earnings season? appeared first on The Motley Fool Australia.

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More reading

Here are the 10 top moving ASX shares on Monday

Here’s why the QBE (ASX:QBE) share price is up 27% so far in 2021

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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