Cigna (NYSE:CI) Issues FY20 Earnings Guidance

Cigna (NYSE:CI) issued an update on its FY20 earnings guidance on Tuesday morning. The company provided EPS guidance of $18.00-18.60 for the period, compared to the Thomson Reuters consensus EPS estimate of $18.38. The company issued revenue guidance of $154-156 billion, compared to the consensus revenue estimate of $154.88 billion.Cigna also updated its FY21 guidance to $20.00-21.00 EPS.

Cigna stock opened at $200.57 on Friday. The firm has a market cap of $73.60 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 0.98 and a beta of 0.68. The business’s 50-day moving average price is $187.98 and its 200 day moving average price is $193.25. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.71. Cigna has a 52 week low of $118.50 and a 52 week high of $224.64.

Cigna (NYSE:CI) last issued its quarterly earnings results on Thursday, April 30th. The health services provider reported $4.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.35 by $0.34. The company had revenue of $38.39 billion for the quarter, compared to the consensus estimate of $37.09 billion. Cigna had a return on equity of 15.05% and a net margin of 3.19%. Cigna’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.90 earnings per share. Equities analysts expect that Cigna will post 18.41 EPS for the current year.

CI has been the topic of several research reports. Sanford C. Bernstein downgraded Cigna from an outperform rating to a market perform rating and set a $223.00 target price on the stock. in a research report on Monday, May 4th. Raymond James raised their target price on Cigna from $210.00 to $240.00 and gave the company a strong-buy rating in a research report on Monday, May 4th. Deutsche Bank decreased their target price on Cigna from $288.00 to $279.00 and set a buy rating on the stock in a research report on Monday, May 4th. Morgan Stanley lifted their price objective on Cigna from $251.00 to $258.00 and gave the stock an overweight rating in a research report on Monday, April 13th. Finally, SunTrust Banks reduced their price objective on Cigna from $280.00 to $240.00 and set a buy rating on the stock in a research report on Monday, April 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Cigna presently has an average rating of Buy and an average target price of $241.43.

In other news, insider Timothy C. Wentworth sold 2,200 shares of Cigna stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $201.11, for a total value of $442,442.00. Following the completion of the sale, the insider now directly owns 70,943 shares of the company’s stock, valued at $14,267,346.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Cordani sold 49,826 shares of Cigna stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $200.00, for a total value of $9,965,200.00. Following the completion of the sale, the chief executive officer now directly owns 84,418 shares of the company’s stock, valued at $16,883,600. The disclosure for this sale can be found here. Insiders sold 109,746 shares of company stock valued at $21,359,093 over the last ninety days. Insiders own 0.90% of the company’s stock.

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.

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Earnings History and Estimates for Cigna (NYSE:CI)

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