$15.11 Billion in Sales Expected for Aetna Inc. (AET) This Quarter
Wall Street brokerages expect Aetna Inc. (NYSE:AET) to report $15.11 billion in sales for the current quarter, according to Zacks. Seven analysts have issued estimates for Aetna’s earnings. The lowest sales estimate is $14.86 billion and the highest is $15.24 billion. Aetna posted sales of $15.75 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.1%. The business is expected to report its next earnings results before the market opens on Tuesday, October 31st.
On average, analysts expect that Aetna will report full year sales of $15.11 billion for the current fiscal year, with estimates ranging from $60.71 billion to $61.74 billion. For the next year, analysts anticipate that the firm will post sales of $63.79 billion per share, with estimates ranging from $62.10 billion to $65.36 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Aetna.
Aetna (NYSE:AET) last released its quarterly earnings results on Thursday, August 3rd. The company reported $3.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.34 by $1.08. Aetna had a return on equity of 20.52% and a net margin of 2.52%. The business had revenue of $15.52 billion during the quarter, compared to analysts’ expectations of $15.34 billion. During the same quarter in the prior year, the business earned $2.21 earnings per share. The company’s quarterly revenue was down 2.7% compared to the same quarter last year.
AET has been the topic of several recent research reports. Zacks Investment Research raised Aetna from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, July 4th. Citigroup Inc. initiated coverage on Aetna in a report on Wednesday, June 28th. They issued a “buy” rating and a $180.00 price target on the stock. BidaskClub downgraded Aetna from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Argus reissued a “buy” rating and issued a $185.00 price target (up previously from $165.00) on shares of Aetna in a report on Tuesday, September 12th. Finally, Deutsche Bank AG raised their price target on Aetna from $157.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, August 7th. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Aetna has an average rating of “Buy” and an average price target of $161.83.
Shares of Aetna (NYSE AET) opened at 158.60 on Friday. The stock has a market cap of $52.67 billion, a PE ratio of 35.21 and a beta of 0.53. Aetna has a 1-year low of $104.59 and a 1-year high of $164.52. The stock’s 50 day moving average price is $158.13 and its 200 day moving average price is $149.69.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Thursday, October 12th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Wednesday, October 11th. Aetna’s dividend payout ratio (DPR) is presently 43.67%.
In other news, EVP Margaret M. Mccarthy sold 10,288 shares of Aetna stock in a transaction on Friday, September 15th. The stock was sold at an average price of $162.85, for a total transaction of $1,675,400.80. Following the transaction, the executive vice president now directly owns 33,563 shares in the company, valued at approximately $5,465,734.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Karen S. Lynch sold 15,271 shares of Aetna stock in a transaction on Monday, September 18th. The shares were sold at an average price of $161.91, for a total value of $2,472,527.61. Following the transaction, the president now owns 64,261 shares in the company, valued at $10,404,498.51. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. State of Tennessee Treasury Department increased its position in shares of Aetna by 26.3% during the 2nd quarter. State of Tennessee Treasury Department now owns 557,814 shares of the company’s stock valued at $84,692,000 after purchasing an additional 116,280 shares during the period. Banque Pictet & Cie SA acquired a new position in shares of Aetna during the 2nd quarter valued at $10,567,000. Pictet & Cie Europe SA acquired a new position in shares of Aetna during the 2nd quarter valued at $2,269,000. NBT Bank N A NY acquired a new position in shares of Aetna during the 2nd quarter valued at $215,000. Finally, Eaton Vance Management increased its position in shares of Aetna by 18.3% during the 2nd quarter. Eaton Vance Management now owns 1,050,685 shares of the company’s stock valued at $159,526,000 after purchasing an additional 162,502 shares during the period. Institutional investors own 89.52% of the company’s stock.
Aetna Inc is a diversified healthcare benefits company. The Company operates through three segments: Health Care, Group Insurance and Large Case Pensions. It offers a range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, medical management capabilities, Medicaid healthcare management services, Medicare Advantage and Medicare Supplement plans, workers’ compensation administrative services and health information technology (HIT) products and services.
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