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Elevance Health (ELV) Stock Moves 0.38%: What You Should Know
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Elevance Health (ELV - Free Report) closed the most recent trading day at $459.57, moving +0.38% from the previous trading session. The stock traded in line with S&P 500. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, added 0.54%.
Prior to today's trading, shares of the health insurer had lost 2.17% over the past month. This has lagged the Medical sector's gain of 0.38% and the S&P 500's loss of 1.68% in that time.
Investors will be hoping for strength from Elevance Health as it approaches its next earnings release. The company is expected to report EPS of $8.47, up 12.48% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $42.15 billion, up 6.38% from the prior-year quarter.
ELV's full-year Zacks Consensus Estimates are calling for earnings of $32.89 per share and revenue of $168.43 billion. These results would represent year-over-year changes of +13.14% and +8.2%, respectively.
It is also important to note the recent changes to analyst estimates for Elevance Health. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. The Zacks Consensus EPS estimate has moved 0.03% higher within the past month. Elevance Health currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Elevance Health is currently trading at a Forward P/E ratio of 13.92. This valuation marks a discount compared to its industry's average Forward P/E of 23.97.
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 1.73 based on yesterday's closing prices.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 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.
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 0.38%: What You Should Know
Elevance Health (ELV - Free Report) closed the most recent trading day at $459.57, moving +0.38% from the previous trading session. The stock traded in line with S&P 500. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, added 0.54%.
Prior to today's trading, shares of the health insurer had lost 2.17% over the past month. This has lagged the Medical sector's gain of 0.38% and the S&P 500's loss of 1.68% in that time.
Investors will be hoping for strength from Elevance Health as it approaches its next earnings release. The company is expected to report EPS of $8.47, up 12.48% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $42.15 billion, up 6.38% from the prior-year quarter.
ELV's full-year Zacks Consensus Estimates are calling for earnings of $32.89 per share and revenue of $168.43 billion. These results would represent year-over-year changes of +13.14% and +8.2%, respectively.
It is also important to note the recent changes to analyst estimates for Elevance Health. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. The Zacks Consensus EPS estimate has moved 0.03% higher within the past month. Elevance Health currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Elevance Health is currently trading at a Forward P/E ratio of 13.92. This valuation marks a discount compared to its industry's average Forward P/E of 23.97.
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 1.73 based on yesterday's closing prices.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.