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Elevance Health (ELV) Rises Yet Lags Behind Market: Some Facts Worth Knowing
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Elevance Health (ELV - Free Report) closed the most recent trading day at $488.06, moving +0.94% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.37%. Elsewhere, the Dow gained 1.4%, while the tech-heavy Nasdaq added 1.38%.
Shares of the health insurer have appreciated by 4.72% over the course of the past month, underperforming the Medical sector's gain of 5.42% and the S&P 500's gain of 5.37%.
Analysts and investors alike will be keeping a close eye on the performance of Elevance Health in its upcoming earnings disclosure. The company is expected to report EPS of $5.54, up 5.93% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $41.97 billion, up 5.8% from the year-ago period.
ELV's full-year Zacks Consensus Estimates are calling for earnings of $33.06 per share and revenue of $169.83 billion. These results would represent year-over-year changes of +13.73% and +9.1%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Elevance Health. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% lower. Elevance Health is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Elevance Health is currently trading at a Forward P/E ratio of 14.63. This denotes a discount relative to the industry's average Forward P/E of 20.96.
It is also worth noting that ELV currently has a PEG ratio of 1.21. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Medical Services industry stood at 1.67 at the close of the market yesterday.
The Medical Services industry is part of the Medical sector. With its current Zacks Industry Rank of 77, this industry ranks in the top 31% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Elevance Health (ELV) Rises Yet Lags Behind Market: Some Facts Worth Knowing
Elevance Health (ELV - Free Report) closed the most recent trading day at $488.06, moving +0.94% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.37%. Elsewhere, the Dow gained 1.4%, while the tech-heavy Nasdaq added 1.38%.
Shares of the health insurer have appreciated by 4.72% over the course of the past month, underperforming the Medical sector's gain of 5.42% and the S&P 500's gain of 5.37%.
Analysts and investors alike will be keeping a close eye on the performance of Elevance Health in its upcoming earnings disclosure. The company is expected to report EPS of $5.54, up 5.93% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $41.97 billion, up 5.8% from the year-ago period.
ELV's full-year Zacks Consensus Estimates are calling for earnings of $33.06 per share and revenue of $169.83 billion. These results would represent year-over-year changes of +13.73% and +9.1%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Elevance Health. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% lower. Elevance Health is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Elevance Health is currently trading at a Forward P/E ratio of 14.63. This denotes a discount relative to the industry's average Forward P/E of 20.96.
It is also worth noting that ELV currently has a PEG ratio of 1.21. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Medical Services industry stood at 1.67 at the close of the market yesterday.
The Medical Services industry is part of the Medical sector. With its current Zacks Industry Rank of 77, this industry ranks in the top 31% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.