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Cigna (CI) Dips More Than Broader Markets: What You Should Know
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Cigna (CI - Free Report) closed at $256.10 in the latest trading session, marking a -1.38% move from the prior day. This change lagged the S&P 500's daily loss of 0.01%. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, added 0.97%.
Heading into today, shares of the health insurer had lost 6.12% over the past month, lagging the Finance sector's gain of 6.87% and the S&P 500's gain of 6.23% in that time.
Investors will be hoping for strength from Cigna as it approaches its next earnings release, which is expected to be May 5, 2023. In that report, analysts expect Cigna to post earnings of $5.35 per share. This would mark a year-over-year decline of 10.98%. Meanwhile, our latest consensus estimate is calling for revenue of $45.36 billion, up 2.84% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $24.78 per share and revenue of $187.58 billion, which would represent changes of +6.49% and +3.84%, respectively, from the prior year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 0.33% lower. Cigna is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Cigna has a Forward P/E ratio of 10.48 right now. This valuation marks a premium compared to its industry's average Forward P/E of 8.81.
Investors should also note that CI has a PEG ratio of 0.93 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Insurance - Multi line was holding an average PEG ratio of 0.94 at yesterday's closing price.
The Insurance - Multi line industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 71, which puts it in the top 29% 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.
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) Dips More Than Broader Markets: What You Should Know
Cigna (CI - Free Report) closed at $256.10 in the latest trading session, marking a -1.38% move from the prior day. This change lagged the S&P 500's daily loss of 0.01%. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, added 0.97%.
Heading into today, shares of the health insurer had lost 6.12% over the past month, lagging the Finance sector's gain of 6.87% and the S&P 500's gain of 6.23% in that time.
Investors will be hoping for strength from Cigna as it approaches its next earnings release, which is expected to be May 5, 2023. In that report, analysts expect Cigna to post earnings of $5.35 per share. This would mark a year-over-year decline of 10.98%. Meanwhile, our latest consensus estimate is calling for revenue of $45.36 billion, up 2.84% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $24.78 per share and revenue of $187.58 billion, which would represent changes of +6.49% and +3.84%, respectively, from the prior year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 0.33% lower. Cigna is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Cigna has a Forward P/E ratio of 10.48 right now. This valuation marks a premium compared to its industry's average Forward P/E of 8.81.
Investors should also note that CI has a PEG ratio of 0.93 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Insurance - Multi line was holding an average PEG ratio of 0.94 at yesterday's closing price.
The Insurance - Multi line industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 71, which puts it in the top 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.