In the latest trading session, Cigna (CI) closed at $360.37, marking a -0.19% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 1.23% for the day. Elsewhere, the Dow lost 1.36%, while the tech-heavy Nasdaq lost 1.4%.
The health insurer's stock has climbed by 6.25% in the past month, exceeding the Medical sector's loss of 1.23% and the S&P 500's gain of 1.61%.
Analysts and investors alike will be keeping a close eye on the performance of Cigna in its upcoming earnings disclosure. The company's earnings report is set to go public on May 2, 2024. The company is expected to report EPS of $6.16, up 13.86% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $56.68 billion, indicating a 21.96% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $28.35 per share and revenue of $235.12 billion, indicating changes of +12.99% and +20.37%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Cigna. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Cigna is carrying a Zacks Rank of #2 (Buy).
Investors should also note Cigna's current valuation metrics, including its Forward P/E ratio of 12.73. This signifies a discount in comparison to the average Forward P/E of 16.02 for its industry.
Meanwhile, CI's PEG ratio is currently 1.11. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Medical - HMOs industry stood at 1.14 at the close of the market yesterday.
The Medical - HMOs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 197, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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