Yahoo Finance Cigna (CI) Stock Sinks As Market Gains: What You Should Know
Cigna (CI) closed at $252.12 in the latest trading session, marking a -1.43% move from the prior day. This change lagged the S&P 500's 0.09% gain on the day. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.98%.
Prior to today's trading, shares of the health insurer had lost 0.31% over the past month. This has lagged the Finance sector's gain of 5.3% and the S&P 500's gain of 4.59% in that time.
Wall Street will be looking for positivity from Cigna as it approaches its next earnings report date. This is expected to be May 5, 2023. On that day, Cigna is projected to report earnings of $5.35 per share, which would represent a year-over-year decline of 10.98%. Our most recent consensus estimate is calling for quarterly revenue of $45.36 billion, up 2.84% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $24.78 per share and revenue of $187.58 billion. These totals would mark changes of +6.49% and +3.84%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Cigna. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.33% lower. Cigna is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Cigna is holding a Forward P/E ratio of 10.32. For comparison, its industry has an average Forward P/E of 9.07, which means Cigna is trading at a premium to the group.
It is also worth noting that CI currently has a PEG ratio of 0.91. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Insurance - Multi line industry currently had an average PEG ratio of 0.96 as of yesterday's close.
The Insurance - Multi line industry is part of the Finance sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
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Cigna Group (CI) : Free Stock Analysis Report
