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Why Cigna (CI) Dipped More Than Broader Market Today
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The most recent trading session ended with Cigna (CI - Free Report) standing at $310.60, reflecting a -0.49% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.01%. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, lost 0.25%.
Heading into today, shares of the health insurer had gained 9.39% over the past month, outpacing the Medical sector's loss of 2.91% and the S&P 500's loss of 1.6% in that time.
The upcoming earnings release of Cigna will be of great interest to investors. The company's earnings report is expected on November 2, 2023. The company's earnings per share (EPS) are projected to be $6.66, reflecting a 10.26% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $48.16 billion, up 6.16% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $24.80 per share and a revenue of $191.63 billion, representing changes of +6.57% and +6.09%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Cigna. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Cigna currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Cigna is currently trading at a Forward P/E ratio of 12.58. For comparison, its industry has an average Forward P/E of 17.11, which means Cigna is trading at a discount to the group.
Also, we should mention that CI has a PEG ratio of 1.13. 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 1.17 as of yesterday's close.
The Medical - HMOs industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 78, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Why Cigna (CI) Dipped More Than Broader Market Today
The most recent trading session ended with Cigna (CI - Free Report) standing at $310.60, reflecting a -0.49% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.01%. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, lost 0.25%.
Heading into today, shares of the health insurer had gained 9.39% over the past month, outpacing the Medical sector's loss of 2.91% and the S&P 500's loss of 1.6% in that time.
The upcoming earnings release of Cigna will be of great interest to investors. The company's earnings report is expected on November 2, 2023. The company's earnings per share (EPS) are projected to be $6.66, reflecting a 10.26% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $48.16 billion, up 6.16% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $24.80 per share and a revenue of $191.63 billion, representing changes of +6.57% and +6.09%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Cigna. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Cigna currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Cigna is currently trading at a Forward P/E ratio of 12.58. For comparison, its industry has an average Forward P/E of 17.11, which means Cigna is trading at a discount to the group.
Also, we should mention that CI has a PEG ratio of 1.13. 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 1.17 as of yesterday's close.
The Medical - HMOs industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 78, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.