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Elevance Health (ELV) Stock Falls Amid Market Uptick: What Investors Need to Know
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The most recent trading session ended with Elevance Health (ELV - Free Report) standing at $465.78, reflecting a -0.76% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.59% gain on the day. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.66%.
The health insurer's shares have seen an increase of 0.86% over the last month, not keeping up with the Medical sector's gain of 5.08% and the S&P 500's gain of 5.16%.
Analysts and investors alike will be keeping a close eye on the performance of Elevance Health in its upcoming earnings disclosure. The company is predicted to post an EPS of $5.54, indicating a 5.93% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $41.97 billion, up 5.8% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $33.06 per share and revenue of $169.83 billion, indicating changes of +13.73% and +9.1%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Elevance Health. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. Elevance Health is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Elevance Health is at present trading with a Forward P/E ratio of 14.2. For comparison, its industry has an average Forward P/E of 22.12, which means Elevance Health is trading at a discount to the group.
We can also see that ELV currently has a PEG ratio of 1.18. 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 Medical Services industry had an average PEG ratio of 1.69 as trading concluded yesterday.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 Falls Amid Market Uptick: What Investors Need to Know
The most recent trading session ended with Elevance Health (ELV - Free Report) standing at $465.78, reflecting a -0.76% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.59% gain on the day. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.66%.
The health insurer's shares have seen an increase of 0.86% over the last month, not keeping up with the Medical sector's gain of 5.08% and the S&P 500's gain of 5.16%.
Analysts and investors alike will be keeping a close eye on the performance of Elevance Health in its upcoming earnings disclosure. The company is predicted to post an EPS of $5.54, indicating a 5.93% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $41.97 billion, up 5.8% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $33.06 per share and revenue of $169.83 billion, indicating changes of +13.73% and +9.1%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Elevance Health. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. Elevance Health is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Elevance Health is at present trading with a Forward P/E ratio of 14.2. For comparison, its industry has an average Forward P/E of 22.12, which means Elevance Health is trading at a discount to the group.
We can also see that ELV currently has a PEG ratio of 1.18. 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 Medical Services industry had an average PEG ratio of 1.69 as trading concluded yesterday.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.