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Elevance Health (ELV) Stock Moves -0.84%: What You Should Know
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Elevance Health (ELV - Free Report) closed the most recent trading day at $456, moving -0.84% from the previous trading session. This change was narrower than the S&P 500's 1.35% loss on the day. At the same time, the Dow lost 1.08%, and the tech-heavy Nasdaq lost 1.87%.
Coming into today, shares of the health insurer had lost 2.08% in the past month. In that same time, the Medical sector lost 1.44%, while the S&P 500 lost 2.06%.
Investors will be hoping for strength from Elevance Health as it approaches its next earnings release. The company is expected to report EPS of $8.43, up 11.95% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.15 billion, up 6.38% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $32.88 per share and revenue of $168.43 billion. These totals would mark changes of +13.11% and +8.2%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Elevance Health. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.01% higher. Elevance Health currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Elevance Health is holding a Forward P/E ratio of 13.99. This valuation marks a discount compared to its industry's average Forward P/E of 23.72.
Also, we should mention that ELV has a PEG ratio of 1.15. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical Services stocks are, on average, holding a PEG ratio of 1.81 based on yesterday's closing prices.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Elevance Health (ELV) Stock Moves -0.84%: What You Should Know
Elevance Health (ELV - Free Report) closed the most recent trading day at $456, moving -0.84% from the previous trading session. This change was narrower than the S&P 500's 1.35% loss on the day. At the same time, the Dow lost 1.08%, and the tech-heavy Nasdaq lost 1.87%.
Coming into today, shares of the health insurer had lost 2.08% in the past month. In that same time, the Medical sector lost 1.44%, while the S&P 500 lost 2.06%.
Investors will be hoping for strength from Elevance Health as it approaches its next earnings release. The company is expected to report EPS of $8.43, up 11.95% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.15 billion, up 6.38% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $32.88 per share and revenue of $168.43 billion. These totals would mark changes of +13.11% and +8.2%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Elevance Health. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.01% higher. Elevance Health currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Elevance Health is holding a Forward P/E ratio of 13.99. This valuation marks a discount compared to its industry's average Forward P/E of 23.72.
Also, we should mention that ELV has a PEG ratio of 1.15. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical Services stocks are, on average, holding a PEG ratio of 1.81 based on yesterday's closing prices.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.