We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Elevance Health (ELV) Ascends While Market Falls: Some Facts to Note
Read MoreHide Full Article
Elevance Health (ELV - Free Report) closed the latest trading day at $510.57, indicating a +0.21% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.29% for the day. Meanwhile, the Dow experienced a drop of 0.35%, and the technology-dominated Nasdaq saw a decrease of 0.3%.
The health insurer's stock has climbed by 0.67% in the past month, falling short of the Medical sector's gain of 3.72% and the S&P 500's gain of 4.42%.
The investment community will be closely monitoring the performance of Elevance Health in its forthcoming earnings report. On that day, Elevance Health is projected to report earnings of $10.52 per share, which would represent year-over-year growth of 11.21%. Simultaneously, our latest consensus estimate expects the revenue to be $42.46 billion, showing a 1.35% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $37.14 per share and a revenue of $172.38 billion, signifying shifts of +12.07% and +1.27%, respectively, from the last year.
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. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.01% upward. Right now, Elevance Health possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Elevance Health is currently trading at a Forward P/E ratio of 13.72. This valuation marks a discount compared to its industry's average Forward P/E of 20.2.
We can additionally observe that ELV currently boasts a PEG ratio of 1.14. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical Services industry had an average PEG ratio of 1.58 as trading concluded yesterday.
The Medical Services industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 58, positioning it in the top 24% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Elevance Health (ELV) Ascends While Market Falls: Some Facts to Note
Elevance Health (ELV - Free Report) closed the latest trading day at $510.57, indicating a +0.21% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.29% for the day. Meanwhile, the Dow experienced a drop of 0.35%, and the technology-dominated Nasdaq saw a decrease of 0.3%.
The health insurer's stock has climbed by 0.67% in the past month, falling short of the Medical sector's gain of 3.72% and the S&P 500's gain of 4.42%.
The investment community will be closely monitoring the performance of Elevance Health in its forthcoming earnings report. On that day, Elevance Health is projected to report earnings of $10.52 per share, which would represent year-over-year growth of 11.21%. Simultaneously, our latest consensus estimate expects the revenue to be $42.46 billion, showing a 1.35% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $37.14 per share and a revenue of $172.38 billion, signifying shifts of +12.07% and +1.27%, respectively, from the last year.
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. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.01% upward. Right now, Elevance Health possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Elevance Health is currently trading at a Forward P/E ratio of 13.72. This valuation marks a discount compared to its industry's average Forward P/E of 20.2.
We can additionally observe that ELV currently boasts a PEG ratio of 1.14. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical Services industry had an average PEG ratio of 1.58 as trading concluded yesterday.
The Medical Services industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 58, positioning it in the top 24% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.