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Cigna (CI) Beats on Q1 Earnings & Revenues, Guides Up
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Have you been eager to see how Cigna Corp. (CI - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this multi-line insurance company’s earnings release this morning.
An Earnings Beat
Cigna came out with adjusted earnings per share of $4.11, beating the Zacks Consensus Estimate of $3.37. Earnings also grew 48% year over year. Better-than-expected earnings were primarily driven by revenue growth.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Cigna depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained unchanged at $3.37 per share over the last 7 days.
Cigna has a solid earnings surprise history. The company surpassed the Zacks Consensus Estimate by an average of 13.63% in the trailing four quarters.
Cigna posted revenues of $11.4 billion, which surpassed the Zacks Consensus Estimate of $11 billion. Revenues grew 9% year over year, led by strong business growth in Cigna's Commercial Healthcare and Global Supplemental Benefits segments.
Key Stats to Note
Premium were up 10.4% year over year to $9 billion, while fees increased 8.4% to $1.35 billion.
The company medical enrollment grew by 327,000 lives to 16.2 million customers driven by growth in Select, Individual and Middle Market segments.
2018 Guidance Raised
For 2018 the company expects to earn in the range of $12.85 and $13.25 up from the previous outlook range of $12.40 and $12.90, on a per share basis. Total revenue growth (kept unchanged) is expected to grow in the range of 7% to 8% and medical customers are projected to grow by 0.4 million to 0.5 million lives up from the previous estimate of 0.3 million to 0.5 million lives.
What Zacks Rank Says
Cigna carries a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. (You can see the complete list of today’s Zacks #1 Rank stocks here).
Check back later for our full write up on this Cigna earnings report!
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
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Cigna (CI) Beats on Q1 Earnings & Revenues, Guides Up
Have you been eager to see how Cigna Corp. (CI - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this multi-line insurance company’s earnings release this morning.
An Earnings Beat
Cigna came out with adjusted earnings per share of $4.11, beating the Zacks Consensus Estimate of $3.37. Earnings also grew 48% year over year. Better-than-expected earnings were primarily driven by revenue growth.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Cigna depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained unchanged at $3.37 per share over the last 7 days.
Cigna has a solid earnings surprise history. The company surpassed the Zacks Consensus Estimate by an average of 13.63% in the trailing four quarters.
Cigna Corporation Price and EPS Surprise
Cigna Corporation Price and EPS Surprise | Cigna Corporation Quote
Revenues Surpass Estimates
Cigna posted revenues of $11.4 billion, which surpassed the Zacks Consensus Estimate of $11 billion. Revenues grew 9% year over year, led by strong business growth in Cigna's Commercial Healthcare and Global Supplemental Benefits segments.
Key Stats to Note
Premium were up 10.4% year over year to $9 billion, while fees increased 8.4% to $1.35 billion.
The company medical enrollment grew by 327,000 lives to 16.2 million customers driven by growth in Select, Individual and Middle Market segments.
2018 Guidance Raised
For 2018 the company expects to earn in the range of $12.85 and $13.25 up from the previous outlook range of $12.40 and $12.90, on a per share basis. Total revenue growth (kept unchanged) is expected to grow in the range of 7% to 8% and medical customers are projected to grow by 0.4 million to 0.5 million lives up from the previous estimate of 0.3 million to 0.5 million lives.
What Zacks Rank Says
Cigna carries a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. (You can see the complete list of today’s Zacks #1 Rank stocks here).
Check back later for our full write up on this Cigna earnings report!
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>