Morningstar Issues BBB- Credit Rating to CIGNA (CI)
CIGNA (NYSE:CI) has received a “BBB-” credit rating from Morningstar. The agency’s “BBB-” rating indicates that the company is a moderate default risk. They also issued a negative credit outlook for the company and gave their stock a two star rating.
CI has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of CIGNA in a research note on Tuesday, August 12th. They now have a $95.00 price target on the stock. Separately, 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. Finally, 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. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $97.00.
Shares of CIGNA (NYSE:CI) opened at 95.49 on Friday. CIGNA has a 1-year low of $72.64 and a 1-year high of $97.28. The stock has a 50-day moving average of $93.47 and a 200-day moving average of $86.8. The company has a market cap of $25.192 billion and a price-to-earnings ratio of 13.01.
CIGNA (NYSE:CI) last released its earnings data on Thursday, July 31st. The company reported $1.96 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.78 earnings per share. CIGNA’s revenue was up 9.4% compared to the same quarter last year. On average, analysts predict that CIGNA will post $7.36 earnings per share for the current fiscal year.
Cigna Corporation (NYSE:CI) is a holding company.
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