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Cigna (CI) Gains As Market Dips: What You Should Know
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Cigna (CI - Free Report) closed the most recent trading day at $280.75, moving +0.15% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.38%, and the tech-heavy Nasdaq lost 9.78%.
Heading into today, shares of the health insurer had gained 6.51% over the past month, lagging the Finance sector's gain of 6.56% and outpacing the S&P 500's gain of 4.16% in that time.
Investors will be hoping for strength from Cigna as it approaches its next earnings release. On that day, Cigna is projected to report earnings of $5.99 per share, which would represent a year-over-year decline of 3.7%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $47.13 billion, up 3.74% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $24.81 per share and revenue of $188.88 billion, which would represent changes of +6.62% and +4.56%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Cigna. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Cigna is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Cigna has a Forward P/E ratio of 11.3 right now. For comparison, its industry has an average Forward P/E of 8.93, which means Cigna is trading at a premium to the group.
Also, we should mention that CI has a PEG ratio of 1.01. 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 1.16 as of yesterday's close.
The Insurance - Multi line industry is part of the Finance sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% 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.
To follow CI in the coming trading sessions, be sure to utilize Zacks.com.
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Cigna (CI) Gains As Market Dips: What You Should Know
Cigna (CI - Free Report) closed the most recent trading day at $280.75, moving +0.15% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.38%, and the tech-heavy Nasdaq lost 9.78%.
Heading into today, shares of the health insurer had gained 6.51% over the past month, lagging the Finance sector's gain of 6.56% and outpacing the S&P 500's gain of 4.16% in that time.
Investors will be hoping for strength from Cigna as it approaches its next earnings release. On that day, Cigna is projected to report earnings of $5.99 per share, which would represent a year-over-year decline of 3.7%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $47.13 billion, up 3.74% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $24.81 per share and revenue of $188.88 billion, which would represent changes of +6.62% and +4.56%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Cigna. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Cigna is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Cigna has a Forward P/E ratio of 11.3 right now. For comparison, its industry has an average Forward P/E of 8.93, which means Cigna is trading at a premium to the group.
Also, we should mention that CI has a PEG ratio of 1.01. 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 1.16 as of yesterday's close.
The Insurance - Multi line industry is part of the Finance sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% 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.
To follow CI in the coming trading sessions, be sure to utilize Zacks.com.