Zacks: Brokerages Expect Cigna Corp (NYSE:CI) Will Announce Earnings of $4.28 Per Share

Wall Street brokerages expect Cigna Corp (NYSE:CI) to announce earnings per share (EPS) of $4.28 for the current quarter, Zacks reports. Five analysts have issued estimates for Cigna’s earnings, with the lowest EPS estimate coming in at $4.17 and the highest estimate coming in at $4.72. Cigna reported earnings of $2.46 per share during the same quarter last year, which indicates a positive year over year growth rate of 74%. The firm is scheduled to report its next earnings report on Friday, February 7th.

According to Zacks, analysts expect that Cigna will report full year earnings of $16.89 per share for the current year, with EPS estimates ranging from $16.60 to $16.99. For the next financial year, analysts forecast that the company will report earnings of $18.61 per share, with EPS estimates ranging from $18.30 to $19.07. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Cigna.

Cigna (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $4.54 EPS for the quarter, topping the consensus estimate of $4.37 by $0.17. The company had revenue of $35.83 billion during the quarter, compared to analyst estimates of $34.20 billion. Cigna had a return on equity of 12.79% and a net margin of 3.30%. The business’s revenue was up 213.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.84 EPS.

Several research analysts have recently commented on CI shares. Raymond James lifted their target price on Cigna from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Stephens set a $225.00 target price on Cigna and gave the stock a “buy” rating in a research report on Friday, August 23rd. ValuEngine upgraded Cigna from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Deutsche Bank set a $210.00 target price on Cigna and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Sanford C. Bernstein upgraded Cigna from a “market perform” rating to an “outperform” rating and set a $205.00 target price for the company in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Cigna presently has a consensus rating of “Buy” and an average price target of $213.84.

In related news, CEO David Cordani purchased 32,509 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average price of $155.17 per share, with a total value of $5,044,421.53. Company insiders own 0.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CI. Redhawk Wealth Advisors Inc. acquired a new position in shares of Cigna during the 2nd quarter valued at $28,000. Virtus ETF Advisers LLC acquired a new position in shares of Cigna during the 2nd quarter valued at $30,000. Garrett Wealth Advisory Group LLC acquired a new position in shares of Cigna during the 3rd quarter valued at $30,000. Knuff & Co LLC acquired a new position in shares of Cigna during the 3rd quarter valued at $30,000. Finally, Optimum Investment Advisors increased its position in shares of Cigna by 258.6% during the 3rd quarter. Optimum Investment Advisors now owns 208 shares of the health services provider’s stock valued at $32,000 after purchasing an additional 150 shares during the period. 87.79% of the stock is currently owned by institutional investors and hedge funds.

Shares of CI traded up $1.81 during mid-day trading on Tuesday, hitting $188.97. The stock had a trading volume of 510,001 shares, compared to its average volume of 2,129,504. The company has a market cap of $70.28 billion, a PE ratio of 13.29, a PEG ratio of 0.95 and a beta of 0.72. The company’s fifty day simple moving average is $164.43 and its two-hundred day simple moving average is $161.21. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.76. Cigna has a fifty-two week low of $141.95 and a fifty-two week high of $226.60.

About Cigna

Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.

Further Reading: Hold Rating

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Earnings History and Estimates for Cigna (NYSE:CI)

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