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Cigna (CI) Ascends But Remains Behind Market: Some Facts to Note
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Cigna (CI - Free Report) closed the latest trading day at $313.63, indicating a +0.01% change from the previous session's end. This move lagged the S&P 500's daily gain of 1.41%. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 2.2%.
Coming into today, shares of the health insurer had gained 21.17% in the past month. In that same time, the Medical sector gained 6.57%, while the S&P 500 gained 2.9%.
Investors will be eagerly watching for the performance of Cigna in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 2, 2024. The company is forecasted to report an EPS of $6.52, showcasing a 31.45% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $48.85 billion, showing a 6.79% escalation compared to the year-ago quarter.
Investors should also note any recent changes to analyst estimates for Cigna. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.45% upward. Cigna is currently a Zacks Rank #3 (Hold).
In terms of valuation, Cigna is presently being traded at a Forward P/E ratio of 11.1. This represents a discount compared to its industry's average Forward P/E of 14.59.
One should further note that CI currently holds a PEG ratio of 0.99. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Medical - HMOs industry stood at 1.04 at the close of the market yesterday.
The Medical - HMOs industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 97, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Cigna (CI) Ascends But Remains Behind Market: Some Facts to Note
Cigna (CI - Free Report) closed the latest trading day at $313.63, indicating a +0.01% change from the previous session's end. This move lagged the S&P 500's daily gain of 1.41%. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 2.2%.
Coming into today, shares of the health insurer had gained 21.17% in the past month. In that same time, the Medical sector gained 6.57%, while the S&P 500 gained 2.9%.
Investors will be eagerly watching for the performance of Cigna in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 2, 2024. The company is forecasted to report an EPS of $6.52, showcasing a 31.45% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $48.85 billion, showing a 6.79% escalation compared to the year-ago quarter.
Investors should also note any recent changes to analyst estimates for Cigna. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.45% upward. Cigna is currently a Zacks Rank #3 (Hold).
In terms of valuation, Cigna is presently being traded at a Forward P/E ratio of 11.1. This represents a discount compared to its industry's average Forward P/E of 14.59.
One should further note that CI currently holds a PEG ratio of 0.99. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Medical - HMOs industry stood at 1.04 at the close of the market yesterday.
The Medical - HMOs industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 97, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.