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Cigna (CI) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Cigna (CI - Free Report) closed at $281.16, marking a -0.57% move from the previous day. This move lagged the S&P 500's daily gain of 0.39%.
Coming into today, shares of the health insurer had gained 5.18% in the past month. In that same time, the Finance sector gained 2.79%, while the S&P 500 gained 3.16%.
Investors will be hoping for strength from Cigna as it approaches its next earnings release, which is expected to be August 3, 2023. The company is expected to report EPS of $5.98, down 3.86% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $47.13 billion, up 3.74% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $24.81 per share and revenue of $188.84 billion, which would represent changes of +6.62% and +4.54%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Cigna. Recent revisions tend to reflect the latest near-term business trends. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.05% lower within the past month. Cigna is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Cigna is holding a Forward P/E ratio of 11.4. This represents a premium compared to its industry's average Forward P/E of 8.97.
Meanwhile, CI's PEG ratio is currently 1.02. 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. The Insurance - Multi line was holding an average PEG ratio of 1.16 at yesterday's closing price.
The Insurance - Multi line industry is part of the Finance sector. This group has a Zacks Industry Rank of 162, putting it in the bottom 36% 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Cigna (CI - Free Report) closed at $281.16, marking a -0.57% move from the previous day. This move lagged the S&P 500's daily gain of 0.39%.
Coming into today, shares of the health insurer had gained 5.18% in the past month. In that same time, the Finance sector gained 2.79%, while the S&P 500 gained 3.16%.
Investors will be hoping for strength from Cigna as it approaches its next earnings release, which is expected to be August 3, 2023. The company is expected to report EPS of $5.98, down 3.86% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $47.13 billion, up 3.74% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $24.81 per share and revenue of $188.84 billion, which would represent changes of +6.62% and +4.54%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Cigna. Recent revisions tend to reflect the latest near-term business trends. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.05% lower within the past month. Cigna is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Cigna is holding a Forward P/E ratio of 11.4. This represents a premium compared to its industry's average Forward P/E of 8.97.
Meanwhile, CI's PEG ratio is currently 1.02. 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. The Insurance - Multi line was holding an average PEG ratio of 1.16 at yesterday's closing price.
The Insurance - Multi line industry is part of the Finance sector. This group has a Zacks Industry Rank of 162, putting it in the bottom 36% 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.