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Cigna (CI) Gains As Market Dips: What You Should Know
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In the latest trading session, Cigna (CI - Free Report) closed at $313.59, marking a +1.49% move from the previous day. This move outpaced the S&P 500's daily loss of 0.02%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq gained 5.44%.
Prior to today's trading, shares of the health insurer had lost 7.52% over the past month. This has lagged the Finance sector's gain of 6.01% and the S&P 500's gain of 4.57% in that time.
Investors will be hoping for strength from Cigna as it approaches its next earnings release, which 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%. Meanwhile, our latest consensus estimate is calling for revenue of $45.58 billion, down 0.22% from the prior-year quarter.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Cigna currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Cigna is holding a Forward P/E ratio of 12.45. This valuation marks a premium compared to its industry's average Forward P/E of 9.58.
It is also worth noting that CI currently has a PEG ratio of 1.11. 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. Insurance - Multi line stocks are, on average, holding a PEG ratio of 1.3 based on yesterday's closing prices.
The Insurance - Multi line industry is part of the Finance sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cigna (CI) Gains As Market Dips: What You Should Know
In the latest trading session, Cigna (CI - Free Report) closed at $313.59, marking a +1.49% move from the previous day. This move outpaced the S&P 500's daily loss of 0.02%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq gained 5.44%.
Prior to today's trading, shares of the health insurer had lost 7.52% over the past month. This has lagged the Finance sector's gain of 6.01% and the S&P 500's gain of 4.57% in that time.
Investors will be hoping for strength from Cigna as it approaches its next earnings release, which 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%. Meanwhile, our latest consensus estimate is calling for revenue of $45.58 billion, down 0.22% from the prior-year quarter.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Cigna currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Cigna is holding a Forward P/E ratio of 12.45. This valuation marks a premium compared to its industry's average Forward P/E of 9.58.
It is also worth noting that CI currently has a PEG ratio of 1.11. 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. Insurance - Multi line stocks are, on average, holding a PEG ratio of 1.3 based on yesterday's closing prices.
The Insurance - Multi line industry is part of the Finance sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.