CIGNA’s Neutral Rating Reaffirmed at Zacks (CI)
CIGNA (NYSE:CI)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Tuesday. They currently have a $95.00 price target on the stock. Zacks‘s target price indicates a potential upside of 5.54% from the stock’s previous close.
Zacks’ analyst wrote, “Cigna Corp. reported second-quarter 2014 earnings of $1.96 per share, beating the Zacks Consensus Estimate of $1.85. Earnings were also up 10.1% year over year. Cigna’s better-than-expected earnings came from premium growth across all its business segments. Over the longer term, the company is set to benefit from its differentiated portfolio of businesses. Its strong global supplemental business, Pharmacy Benefit Management (“PBM”) Services Agreement, organizational efficiency plans as well as expansion of Seniors and Medicare business with the acquisition of HealthSpring are likely to drive growth going forward. A strong balance sheet and investment grade ratings are the other positives. However, the company continues to face pressure from the medicare advantage rate cut, higher medical cost and rising expenses. We thus maintain our Neutral recommendation on the stock.”
CI has been the subject of a number of other recent research reports. Analysts at Leerink Swann raised their price target on shares of CIGNA from $100.00 to $110.00 in a research note on Monday, August 4th. Separately, analysts at BMO Capital Markets raised their price target on shares of CIGNA from $100.00 to $101.00 in a research note on Friday, August 1st. Finally, analysts at Oppenheimer raised their price target on shares of CIGNA from $97.00 to $100.00 in a research note on Friday, August 1st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $97.00.
CIGNA (NYSE:CI) traded up 0.69% during mid-day trading on Tuesday, hitting $90.63. The stock had a trading volume of 1,613,374 shares. CIGNA has a one year low of $72.64 and a one year high of $97.28. The stock’s 50-day moving average is $92.98 and its 200-day moving average is $85.55. The company has a market cap of $23.910 billion and a price-to-earnings ratio of 12.36.
CIGNA (NYSE:CI) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. The company had revenue of $8.73 billion for the quarter, compared to the consensus estimate of $7.61 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts predict that CIGNA will post $7.37 earnings per share for the current fiscal year.
In other CIGNA news, Chairman Isaiah Harris, Jr. sold 1,066 shares of CIGNA stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $90.22, for a total transaction of $96,174.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Cigna Corporation (NYSE:CI) is a holding company.
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