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Cigna (CI) Outpaces Stock Market Gains: What You Should Know
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Cigna (CI - Free Report) closed at $309.23 in the latest trading session, marking a +1.79% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.29%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 10.96%.
Coming into today, shares of the health insurer had lost 8.01% in the past month. In that same time, the Finance sector gained 2.67%, while the S&P 500 lost 0.23%.
Wall Street will be looking for positivity from Cigna as it approaches its next earnings report date. This is expected to be February 3, 2023. On that day, Cigna is projected to report earnings of $4.84 per share, which would represent year-over-year growth of 1.47%. Our most recent consensus estimate is calling for quarterly revenue of $45.58 billion, down 0.22% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Cigna. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Cigna is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Cigna is currently trading at a Forward P/E ratio of 12.24. This represents a premium compared to its industry's average Forward P/E of 9.39.
Meanwhile, CI's PEG ratio is currently 1.09. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Insurance - Multi line was holding an average PEG ratio of 1.17 at yesterday's closing price.
The Insurance - Multi line industry is part of the Finance sector. This group has a Zacks Industry Rank of 28, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CI in the coming trading sessions, be sure to utilize Zacks.com.
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Cigna (CI) Outpaces Stock Market Gains: What You Should Know
Cigna (CI - Free Report) closed at $309.23 in the latest trading session, marking a +1.79% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.29%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 10.96%.
Coming into today, shares of the health insurer had lost 8.01% in the past month. In that same time, the Finance sector gained 2.67%, while the S&P 500 lost 0.23%.
Wall Street will be looking for positivity from Cigna as it approaches its next earnings report date. This is expected to be February 3, 2023. On that day, Cigna is projected to report earnings of $4.84 per share, which would represent year-over-year growth of 1.47%. Our most recent consensus estimate is calling for quarterly revenue of $45.58 billion, down 0.22% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Cigna. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Cigna is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Cigna is currently trading at a Forward P/E ratio of 12.24. This represents a premium compared to its industry's average Forward P/E of 9.39.
Meanwhile, CI's PEG ratio is currently 1.09. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Insurance - Multi line was holding an average PEG ratio of 1.17 at yesterday's closing price.
The Insurance - Multi line industry is part of the Finance sector. This group has a Zacks Industry Rank of 28, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CI in the coming trading sessions, be sure to utilize Zacks.com.