Yahoo Finance Why the Market Dipped But Cigna (CI) Gained Today
The latest trading session saw Cigna (CI) ending at $348.78, denoting a +0.78% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.22%. Meanwhile, the Dow gained 0.06%, and the Nasdaq, a tech-heavy index, lost 0.52%.
Heading into today, shares of the health insurer had lost 2.19% over the past month, outpacing the Medical sector's loss of 6.22% and lagging the S&P 500's loss of 1.66% in that time.
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 $6.17, up 14.05% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $56.64 billion, showing a 21.87% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $28.35 per share and revenue of $235.12 billion. These totals would mark changes of +12.99% and +20.38%, respectively, from last year.
Any recent changes to analyst estimates for Cigna should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Cigna currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Cigna is presently trading at a Forward P/E ratio of 12.21. This indicates a discount in contrast to its industry's Forward P/E of 15.23.
We can additionally observe that CI currently boasts a PEG ratio of 1.06. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Medical - HMOs industry held an average PEG ratio of 1.06.
The Medical - HMOs industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 174, positioning it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cigna Group (CI) : Free Stock Analysis Report
