SelectQuote Shares Crash Following Disappointing Q2 Results
<p><a href='https://financialmodelingprep.com/financial-summary/SLQT'>SelectQuote, Inc. (NYSE:SLQT)</a> shares were trading more than 9% lower Wednesday morning followed by a 10% drop yesterday, driven by the company’s Q2 earnings miss.</p>
<p>Q2 EPS came in at ($0.64), worse than the Street estimate of ($0.17). Revenue was $139.4 million, missing the Street estimate of $200.55 million.</p>
<p>While the full 2023-year guidance fell short of expectations, analysts at RBC Capital noted that the preemptive Q4 tail adjustment and conservative loan-to-value (LTV) assumption should de-risk the outlook. </p>
<p>The analysts were encouraged that lower marketing spend industry-wide may be rationalizing shopping behavior and fostering higher persistency. Furthermore, reduced turnover and higher agent tenure bode well for AEP productivity. The analysts lowered their price target on the company to $2 from $3, while reiterating their sector perform rating. </p>

NYSE:SLQT