Cigna Corporation to Post FY2017 Earnings of $10.05 Per Share, Leerink Swann Forecasts (CI)
Cigna Corporation (NYSE:CI) – Leerink Swann lifted their FY2017 earnings per share (EPS) estimates for Cigna Corporation in a research note issued to investors on Monday. Leerink Swann analyst A. Gupte now forecasts that the health services provider will post earnings of $10.05 per share for the year, up from their previous estimate of $9.85. Leerink Swann also issued estimates for Cigna Corporation’s FY2018 earnings at $11.45 EPS, FY2019 earnings at $13.05 EPS and FY2020 earnings at $14.76 EPS.
Cigna Corporation (NYSE:CI) last released its earnings results on Friday, August 4th. The health services provider reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.43. The firm had revenue of $10.32 billion for the quarter, compared to analysts’ expectations of $10.26 billion. Cigna Corporation had a return on equity of 17.58% and a net margin of 7.46%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.98 earnings per share.
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CI has been the topic of several other research reports. UBS AG reaffirmed a “buy” rating and set a $186.00 price target (up previously from $181.00) on shares of Cigna Corporation in a research report on Monday, June 5th. Bank of America Corporation lifted their price target on shares of Cigna Corporation from $193.00 to $198.00 and gave the company a “buy” rating in a research report on Friday, June 23rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $183.00 price target on shares of Cigna Corporation in a research report on Thursday, June 8th. ValuEngine lowered shares of Cigna Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, Citigroup Inc. lifted their price target on shares of Cigna Corporation from $185.00 to $198.00 and gave the company a “buy” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $179.89.
Cigna Corporation (CI) opened at 175.98 on Tuesday. The company has a market cap of $45.05 billion, a PE ratio of 23.50 and a beta of 0.46. The stock’s 50 day moving average price is $170.76 and its 200-day moving average price is $157.68. Cigna Corporation has a 1-year low of $115.03 and a 1-year high of $176.98.
In other Cigna Corporation news, EVP Nicole S. Jones sold 20,312 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $160.04, for a total value of $3,250,732.48. Following the completion of the transaction, the executive vice president now owns 44,737 shares in the company, valued at $7,159,709.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jane E. Md Henney sold 600 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $174.14, for a total transaction of $104,484.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,558 shares of company stock valued at $37,135,665. Insiders own 1.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of CI. American Beacon Advisors Inc. acquired a new position in Cigna Corporation during the first quarter valued at approximately $102,000. Baystate Wealth Management LLC increased its position in Cigna Corporation by 436.1% in the first quarter. Baystate Wealth Management LLC now owns 772 shares of the health services provider’s stock valued at $116,000 after buying an additional 628 shares during the period. Founders Capital Management acquired a new position in Cigna Corporation during the first quarter valued at approximately $117,000. Parallel Advisors LLC increased its position in Cigna Corporation by 62.3% in the second quarter. Parallel Advisors LLC now owns 800 shares of the health services provider’s stock valued at $139,000 after buying an additional 307 shares during the period. Finally, Mckinley Capital Management LLC Delaware acquired a new position in Cigna Corporation during the first quarter valued at approximately $122,000. Institutional investors and hedge funds own 86.91% of the company’s stock.
Cigna Corporation Company Profile
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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