Zacks: Analysts Expect Cigna Corporation (CI) to Post $2.46 EPS
Equities research analysts expect Cigna Corporation (NYSE:CI) to report earnings of $2.46 per share for the current quarter, according to Zacks. Eight analysts have made estimates for Cigna Corporation’s earnings. The lowest EPS estimate is $2.35 and the highest is $2.54. Cigna Corporation reported earnings per share of $1.98 in the same quarter last year, which would indicate a positive year over year growth rate of 24.2%. The company is scheduled to report its next quarterly earnings results on Friday, August 4th.
On average, analysts expect that Cigna Corporation will report full-year earnings of $9.74 per share for the current fiscal year, with EPS estimates ranging from $9.50 to $9.95. For the next financial year, analysts expect that the firm will post earnings of $11.23 per share, with EPS estimates ranging from $10.85 to $12.11. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Cigna Corporation.
Cigna Corporation (NYSE:CI) last announced its earnings results on Friday, May 5th. The health services provider reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.33. Cigna Corporation had a net margin of 6.53% and a return on equity of 16.07%. The company had revenue of $10.39 billion for the quarter, compared to the consensus estimate of $10.11 billion. During the same period in the previous year, the business earned $2.46 EPS. The company’s revenue was up 5.1% on a year-over-year basis.
A number of equities analysts have recently weighed in on the stock. CIBC lifted their price target on shares of Cigna Corporation from $174.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday. Oppenheimer Holdings, Inc. raised their price objective on shares of Cigna Corporation from $174.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank Of Canada restated a “buy” rating and set a $177.00 price objective on shares of Cigna Corporation in a report on Tuesday, June 13th. Credit Suisse Group began coverage on shares of Cigna Corporation in a report on Monday, June 12th. They set an “outperform” rating and a $185.00 price objective on the stock. Finally, Jefferies Group LLC restated a “buy” rating and set a $183.00 price objective on shares of Cigna Corporation in a report on Thursday, June 8th. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $172.82.
In related news, insider Jason D. Sadler sold 4,213 shares of Cigna Corporation stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $152.01, for a total transaction of $640,418.13. Following the completion of the sale, the insider now owns 36,231 shares of the company’s stock, valued at approximately $5,507,474.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jane E. Md Henney sold 600 shares of Cigna Corporation stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $156.92, for a total transaction of $94,152.00. The disclosure for this sale can be found here. Insiders have sold a total of 46,246 shares of company stock valued at $7,433,839 in the last ninety days. 1.30% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Cigna Corporation by 2,335.5% in the first quarter. BlackRock Inc. now owns 16,987,425 shares of the health services provider’s stock worth $2,488,489,000 after buying an additional 16,289,943 shares in the last quarter. Vanguard Group Inc. increased its stake in Cigna Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 16,706,266 shares of the health services provider’s stock worth $2,447,301,000 after buying an additional 570,241 shares in the last quarter. Dodge & Cox acquired a new stake in Cigna Corporation during the fourth quarter worth about $1,929,534,000. State Street Corp increased its stake in Cigna Corporation by 1.7% in the first quarter. State Street Corp now owns 11,137,018 shares of the health services provider’s stock worth $1,631,451,000 after buying an additional 190,323 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Cigna Corporation by 9.3% in the first quarter. Wellington Management Group LLP now owns 10,765,751 shares of the health services provider’s stock worth $1,577,075,000 after buying an additional 913,991 shares in the last quarter. 86.89% of the stock is owned by hedge funds and other institutional investors.
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Shares of Cigna Corporation (NYSE CI) traded up 0.76% during mid-day trading on Monday, reaching $170.36. 255,276 shares of the company’s stock traded hands. The company’s 50 day moving average is $162.47 and its 200-day moving average is $149.97. The firm has a market cap of $43.61 billion, a price-to-earnings ratio of 22.74 and a beta of 0.44. Cigna Corporation has a 52 week low of $115.03 and a 52 week high of $170.49.
About Cigna Corporation
Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.
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