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Cigna Corp.'s (CI) Q3 Earnings and Revenues Beat, Guides Up
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Have you been eager to see how Cigna Corp. (CI - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this multi-line insurance company’s earnings release this morning.
An Earnings Beat
Cigna came out with adjusted earnings per share of $2.83, beating the Zacks Consensus Estimate of $2.36. Earnings also grew 46% year over year.
Better-than-expected earnings were primarily driven by broad based growth across its business segments.
Earnings Surprise History
Cigna has a decent earnings surprise history. Before posting the earnings beat in Q3, the company delivered positive surprises in each of the four trailing quarters, with an average beat of 10%.
Check back later for our full write up on this Cigna earnings report!
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Cigna Corp.'s (CI) Q3 Earnings and Revenues Beat, Guides Up
Have you been eager to see how Cigna Corp. (CI - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this multi-line insurance company’s earnings release this morning.
An Earnings Beat
Cigna came out with adjusted earnings per share of $2.83, beating the Zacks Consensus Estimate of $2.36. Earnings also grew 46% year over year.
Better-than-expected earnings were primarily driven by broad based growth across its business segments.
Earnings Surprise History
Cigna has a decent earnings surprise history. Before posting the earnings beat in Q3, the company delivered positive surprises in each of the four trailing quarters, with an average beat of 10%.
Cigna Corporation Price and EPS Surprise
Cigna Corporation Price and EPS Surprise | Cigna Corporation Quote
Revenue Ahead of Estimates
Cigna posted revenues of $10.27 billion, which surpassed the Zacks Consensus Estimate of $10.13 billion. Revenues grew 4.7% year over year.
Key Stats to Note
Premium were up 5.6% year over year to $8 billion, while fees increased 4.7% to $1.14 billion.
The company medical enrollment grew to 15.82 million from 15.18 million in the year ago quarter, driven by growth in its Commercial market segments.
Cigna’s cash and marketable investments were of $1.7 billion as of Sep 30, 2017 down from $2.8 billion as of Dec 31, 2016.
Guidance Update
Followed by strong earnings performance, the company raised its outlook for 2017 adjusted earnings to a range of $10.20 to $10.40 per share.
What Zacks Rank Says
Cigna carries a Zacks Rank #2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here).
Check back later for our full write up on this Cigna earnings report!
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Click here for Zacks' private trades >>