Cigna Corporation Given Positive Rating at Susquehanna (CI)
Cigna Corporation (NYSE:CI)‘s stock had its “positive” rating reaffirmed by investment analysts at Susquehanna in a note issued to investors on Wednesday, ARN reports. They currently have a $90.00 price objective on the stock, up from their previous price objective of $88.00. Susquehanna’s target price would indicate a potential upside of 16.28% from the company’s current price.
The analysts wrote, “We expect the managed care group will post solid third quarter results beginning when UNH kicks of earnings on October 17. The earnings period will matter for the group as Humana will offer specific EPS guidance for 2014 and others, particularly UNH, are likely to offer at least some preliminary expectations for next year.”
Cigna Corporation (NYSE:CI) traded down 0.04% during mid-day trading on Wednesday, hitting $77.37. The stock had a trading volume of 124,185 shares. Cigna Corporation has a 52-week low of $48.68 and a 52-week high of $84.68. The stock’s 50-day moving average is $79.49 and its 200-day moving average is $72.59. The company has a market cap of $21.883 billion and a price-to-earnings ratio of 15.57.
Cigna Corporation (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.78 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.60 by $0.18. The company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $7.38 billion. During the same quarter in the previous year, the company posted $1.52 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts expect that Cigna Corporation will post $6.65 EPS for the current fiscal year.
A number of other firms have also recently commented on CI. Analysts at Deutsche Bank raised their price target on shares of Cigna Corporation from $85.00 to $87.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Cigna Corporation from $78.00 to $87.00 in a research note to investors on Tuesday, September 24th. They now have an “overweight” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Cigna Corporation in a research note to investors on Monday, September 9th. They now have a $85.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $77.29.
Cigna Corporation (NYSE:CI) is a holding company.
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