WellPoint Rating Reiterated by Zacks (WLP)
WellPoint (NYSE:WLP)‘s stock had its “neutral” rating restated by Zacks in a report issued on Friday. They currently have a $114.00 price target on the stock. Zacks‘s target price would indicate a potential upside of 5.20% from the stock’s previous close.
Zacks’ analyst wrote, “WellPoint’s first quarter earnings surpassed the Zacks Consensus Estimate but declined year-over-year on higher expenses and poor performance across the Commercial & Specialty and Other segments. However, higher Medicaid membership and premiums drove top line. While divestitures should pay off in future, incremental capital deployment will boost shareholder return and EPS. An optimistic memberships’ outlook also impelled raised guidance. However, changes implemented due to the Health Care Reform are expected to increase expenses and hinder margins. Nevertheless, the independent license for marketing products under the BCBSA, inorganic growth strategies, commercial ASO marketplace expansion and wide product portfolio should drive long-term growth. Yet, competitive pressures and high financial leverage are expected to weigh on company financials partly. We maintain our Neutral recommendation.”
WellPoint (NYSE:WLP) traded down 0.18% on Friday, hitting $108.36. The stock had a trading volume of 1,993,699 shares. WellPoint has a 1-year low of $75.02 and a 1-year high of $110.03. The stock’s 50-day moving average is $101.3 and its 200-day moving average is $93.59. The company has a market cap of $30.305 billion and a price-to-earnings ratio of 14.13.
WellPoint (NYSE:WLP) last announced its earnings results on Wednesday, April 30th. The company reported $2.30 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.14 by $0.16. The company had revenue of $17.65 billion for the quarter, compared to the consensus estimate of $17.96 billion. During the same quarter in the prior year, the company posted $2.94 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts predict that WellPoint will post $8.56 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Friday, June 6th.
A number of other firms have also recently commented on WLP. Analysts at FBR Capital Markets reiterated a “market perform” rating on shares of WellPoint in a research note on Thursday, May 1st. They now have a $110.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of WellPoint in a research note on Thursday, May 1st. They now have a $101.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of WellPoint from $108.00 to $109.00 in a research note on Thursday, May 1st. They now have a “neutral” rating on the stock. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $110.21.
WellPoint, Inc (NYSE:WLP) is a health benefit company in terms of medical membership in the United States.
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