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Cigna (CI) Gains But Lags Market: What You Should Know
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Cigna (CI - Free Report) closed at $263.81 in the latest trading session, marking a +1.17% move from the prior day. This change lagged the S&P 500's 1.33% gain on the day. At the same time, the Dow added 1.14%, and the tech-heavy Nasdaq gained 2.94%.
Heading into today, shares of the health insurer had lost 3.55% over the past month, lagging the Finance sector's gain of 0.75% and the S&P 500's gain of 6.11% in that time.
Cigna will be looking to display strength as it nears its next earnings release, which is expected to be May 5, 2023. On that day, Cigna is projected to report earnings of $5.35 per share, which would represent a year-over-year decline of 10.98%. Meanwhile, our latest consensus estimate is calling for revenue of $45.25 billion, up 2.59% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $24.77 per share and revenue of $187.58 billion. These totals would mark changes of +6.45% and +3.84%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Cigna. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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 has moved 0.96% higher. Cigna is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Cigna currently has a Forward P/E ratio of 10.53. Its industry sports an average Forward P/E of 9.13, so we one might conclude that Cigna is trading at a premium comparatively.
Meanwhile, CI's PEG ratio is currently 0.93. 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. CI's industry had an average PEG ratio of 0.93 as of yesterday's close.
The Insurance - Multi line industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 51, which puts it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Cigna (CI) Gains But Lags Market: What You Should Know
Cigna (CI - Free Report) closed at $263.81 in the latest trading session, marking a +1.17% move from the prior day. This change lagged the S&P 500's 1.33% gain on the day. At the same time, the Dow added 1.14%, and the tech-heavy Nasdaq gained 2.94%.
Heading into today, shares of the health insurer had lost 3.55% over the past month, lagging the Finance sector's gain of 0.75% and the S&P 500's gain of 6.11% in that time.
Cigna will be looking to display strength as it nears its next earnings release, which is expected to be May 5, 2023. On that day, Cigna is projected to report earnings of $5.35 per share, which would represent a year-over-year decline of 10.98%. Meanwhile, our latest consensus estimate is calling for revenue of $45.25 billion, up 2.59% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $24.77 per share and revenue of $187.58 billion. These totals would mark changes of +6.45% and +3.84%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Cigna. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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 has moved 0.96% higher. Cigna is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Cigna currently has a Forward P/E ratio of 10.53. Its industry sports an average Forward P/E of 9.13, so we one might conclude that Cigna is trading at a premium comparatively.
Meanwhile, CI's PEG ratio is currently 0.93. 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. CI's industry had an average PEG ratio of 0.93 as of yesterday's close.
The Insurance - Multi line industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 51, which puts it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.