An image of a pen pointing at a stock chart
Markets

Cigna Boosts Outlook as Q1 Profit Surges 52% (CI)

Health benefits provider Cigna Corporation ( CI ) on Thursday posted sharply higher first quarter earnings, prompting the company to raise its full-year outlook.

The Philadelphia-based company reported first quarter net income of $429 million, or $1.57 per share, compared with $283 million, or $1.02 per share, in the year-ago period. Excluding one-time items, adjusted profit was $1.37 per share.

Revenue rose 4% from last year to $5.41 billion.

On average, Wall Street analysts expected a much smaller profit of $1.09 per share, albeit on slightly higher revenue of $5.45 billion.

Looking ahead, the company boosted its full-year earnings outlook to a range of $4.65 to $5 per share, up from a prior range of $4.30 to $4.70. Analysts currently expect $4.73 per share for the year.

Cigna shares were mostly flat in premarket trading Thursday.

The Bottom Line

Shares of Cigna ( CI ) have a .09% dividend yield, based on last night's closing stock price of $45.92. The stock has technical support in the $42-$44 price area. If the shares can firm up, we see overhead resistance around the all-time high levels of $50-$52 price levels.

Cigna Corporation ( CI ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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.

Created by Dividend.com


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

In This Story

CI

Other Topics

Stocks

Latest Markets Videos