WellPoint Sees a Slight Rise in Q3 Income; Beats Estimates (WLP)

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On Wednesday health insurer WellPoint, Inc. ( WLP ) saw a slight increase in third quarter net income beating Wall Street estimates.

The Indianapolis, Indiana based company said its net income for the quarter ending September 30 was $691.2 million, or $2.15 per share, up from $683.2 million, or $1.90 per share, a year earlier. Excluding some investment items, the adjusted earnings for the quarter were $2.09 per share, beating Wall Street estimates of $1.83 per share according to FactSet.

The revenue for the insurance company was $15.13 billion, which missed analysts expectations of $15.3 billion.

WellPoint also reaffirmed its 2012 EPS forecast, saying that the firm will earn about $7.30 to $7.40 per share in 2012. Analysts expect, on average, earnings of $7.38 per share.

WellPoint shares were down $2.25, or -3.68%, in premarket trading on Wednesday.

The Bottom Line
Shares of Wellpoint, Inc. ( WLP ) have a 1.88% dividend yield, based on last night's closing stock price of $61.20. The stock has technical support in the $55-$58 price area. If the shares can firm up, we see overhead resistance around the $63-$65 price levels.

WellPoint, Inc. ( WLP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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