Health benefits provider UnitedHealth Group Inc.(
) said Tuesday that its third quarter profit jumped 23% from last
year on higher revenue, beating analyst estimates.
The Minneapolis-based company reported third quarter net income
of $1.28 billion, or $1.14 per share, compared with $1.04 billion,
or 89 cents per share, in the year-ago period.
Revenue jumped 9% from last year, to $23.67 billion.
On average, Wall Street analysts expected a much smaller profit
of 83 cents per share, on lower revenue of $23.27 billion.
Looking ahead, the company said it expects full-year earnings of
$3.85 to $3.95 per share on revenue around $94 billion. Those
results would beat analyst estimates of $3.55 and $92.97 billion
for the year.
UnitedHealth shares fell 65 cents, or -1.8%, in premarket
The Bottom Line
Shares of UnitedHealth Group(
) have a 1.38% dividend yield, based on last night's closing stock
price of $36.25. The stock has technical support in the $32 price
area. If the shares can firm up, we see overhead resistance around
the $42-$43 price levels.
UnitedHealth Group Inc.(
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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