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Cigna (CI) Stock Moves -0.92%: What You Should Know
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Cigna (CI - Free Report) closed the most recent trading day at $349.84, moving -0.92% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.46%. Elsewhere, the Dow saw a downswing of 1.24%, while the tech-heavy Nasdaq depreciated by 1.63%.
The health insurer's shares have seen an increase of 1.02% over the last month, surpassing the Medical sector's loss of 4.66% and falling behind the S&P 500's gain of 1.6%.
The investment community will be closely monitoring the performance of Cigna in its forthcoming earnings report. The company is scheduled to release its earnings on May 2, 2024. The company's upcoming EPS is projected at $6.16, signifying a 13.86% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $56.68 billion, up 21.96% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $28.35 per share and revenue of $235.12 billion, which would represent changes of +12.99% and +20.37%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Cigna. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Cigna is currently a Zacks Rank #2 (Buy).
In the context of valuation, Cigna is at present trading with a Forward P/E ratio of 12.45. This signifies a discount in comparison to the average Forward P/E of 15.94 for its industry.
We can additionally observe that CI currently boasts a PEG ratio of 1.08. 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 Medical - HMOs industry currently had an average PEG ratio of 1.1 as of yesterday's close.
The Medical - HMOs industry is part of the Medical sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 28% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Cigna (CI) Stock Moves -0.92%: What You Should Know
Cigna (CI - Free Report) closed the most recent trading day at $349.84, moving -0.92% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.46%. Elsewhere, the Dow saw a downswing of 1.24%, while the tech-heavy Nasdaq depreciated by 1.63%.
The health insurer's shares have seen an increase of 1.02% over the last month, surpassing the Medical sector's loss of 4.66% and falling behind the S&P 500's gain of 1.6%.
The investment community will be closely monitoring the performance of Cigna in its forthcoming earnings report. The company is scheduled to release its earnings on May 2, 2024. The company's upcoming EPS is projected at $6.16, signifying a 13.86% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $56.68 billion, up 21.96% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $28.35 per share and revenue of $235.12 billion, which would represent changes of +12.99% and +20.37%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Cigna. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Cigna is currently a Zacks Rank #2 (Buy).
In the context of valuation, Cigna is at present trading with a Forward P/E ratio of 12.45. This signifies a discount in comparison to the average Forward P/E of 15.94 for its industry.
We can additionally observe that CI currently boasts a PEG ratio of 1.08. 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 Medical - HMOs industry currently had an average PEG ratio of 1.1 as of yesterday's close.
The Medical - HMOs industry is part of the Medical sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 28% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.