What Analyst Projections for Key Metrics Reveal About Elevance Health (ELV) Q2 Earnings
In its upcoming report, Elevance Health (ELV) is predicted by Wall Street analysts to post quarterly earnings of $10 per share, reflecting an increase of 10.6% compared to the same period last year. Revenues are forecasted to be $42.99 billion, representing a year-over-year decrease of 0.9%.
Over the last 30 days, there has been an upward revision of 0.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
With that in mind, let's delve into the average projections of some Elevance Health metrics that are commonly tracked and projected by analysts on Wall Street.
The average prediction of analysts places 'Revenue- Premiums' at $35.78 billion. The estimate indicates a change of -2.2% from the prior-year quarter.
According to the collective judgment of analysts, 'Revenue- Product revenue' should come in at $5.11 billion. The estimate points to a change of +5.1% from the year-ago quarter.
Analysts expect 'Revenue- Net investment income' to come in at $474.58 million. The estimate indicates a change of +14.1% from the prior-year quarter.
It is projected by analysts that the 'Total operating revenue- Health Benefits' will reach $37.35 billion. The estimate indicates a year-over-year change of -1.7%.
Analysts' assessment points toward 'Medical membership - Total' reaching 46,186.40 thousand. Compared to the current estimate, the company reported 47,989 thousand in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Medical Membership - Medicare - Medicare Advantage' should arrive at 2,026.83 thousand. Compared to the current estimate, the company reported 2,059 thousand in the same quarter of the previous year.
The consensus estimate for 'Medical Membership - Medicaid' stands at 9,218.39 thousand. Compared to the current estimate, the company reported 11,759 thousand in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Medical Membership - Federal Employees Health Benefits' will likely reach 1,655.06 thousand. The estimate compares to the year-ago value of 1,634 thousand.
The collective assessment of analysts points to an estimated 'Medical Membership - Individual' of 1,252.02 thousand. The estimate is in contrast to the year-ago figure of 949 thousand.
Analysts forecast 'Benefit Expense Ratio' to reach 86.6%. The estimate compares to the year-ago value of 86.4%.
The consensus among analysts is that 'Medical Membership - Total Commercial Fee-Based' will reach 27,464.39 thousand. The estimate is in contrast to the year-ago figure of 26,897 thousand.
Analysts predict that the 'Medical Membership - Total Commercial Risk-Based' will reach 4,918.99 thousand. Compared to the current estimate, the company reported 4,714 thousand in the same quarter of the previous year.
View all Key Company Metrics for Elevance Health here>>>
Over the past month, Elevance Health shares have recorded returns of -0.9% versus the Zacks S&P 500 composite's +4.3% change. Based on its Zacks Rank #2 (Buy), ELV will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Elevance Health, Inc. (ELV) : Free Stock Analysis Report