In the latest trading session, Cigna (CI) closed at $206.69, marking a -1.75% move from the previous day. This move lagged the S&P 500's daily loss of 1.73%. Elsewhere, the Dow lost 1.19%, while the tech-heavy Nasdaq lost 2.07%.
Heading into today, shares of the health insurer had gained 1.95% over the past month, outpacing the Finance sector's loss of 7.4% and the S&P 500's loss of 7.09% in that time.
Wall Street will be looking for positivity from CI as it approaches its next earnings report date. This is expected to be November 1, 2018. On that day, CI is projected to report earnings of $3.45 per share, which would represent year-over-year growth of 21.91%. Our most recent consensus estimate is calling for quarterly revenue of $11.22 billion, up 9.28% from the year-ago period.
CI's full-year Zacks Consensus Estimates are calling for earnings of $13.87 per share and revenue of $45.38 billion. These results would represent year-over-year changes of +32.6% and +9.67%, respectively.
Investors should also note any recent changes to analyst estimates for CI. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0% lower within the past month. CI is currently a Zacks Rank #3 (Hold).
Looking at its valuation, CI is holding a Forward P/E ratio of 15.17. This valuation marks a premium compared to its industry's average Forward P/E of 11.63.
Meanwhile, CI's PEG ratio is currently 1.24. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CI's industry had an average PEG ratio of 1.18 as of yesterday's close.
The Insurance - Multi line industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.