Analysts forecast that Cigna Corp (NYSE:CI) will post $34.36 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Cigna’s earnings, with the highest sales estimate coming in at $38.17 billion and the lowest estimate coming in at $33.06 billion. Cigna posted sales of $11.50 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 198.8%. The company is scheduled to announce its next earnings results on Thursday, August 1st.
According to Zacks, analysts expect that Cigna will report full-year sales of $137.14 billion for the current financial year, with estimates ranging from $132.79 billion to $150.32 billion. For the next year, analysts expect that the firm will post sales of $142.43 billion, with estimates ranging from $138.24 billion to $149.87 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Cigna.
Cigna (NYSE:CI) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.74 by $0.16. Cigna had a net margin of 4.11% and a return on equity of 14.23%. The firm had revenue of $33.43 billion during the quarter, compared to the consensus estimate of $32.79 billion. During the same quarter in the prior year, the firm earned $4.11 EPS. The company’s revenue for the quarter was up 192.9% on a year-over-year basis.
Several research firms recently weighed in on CI. ValuEngine upgraded shares of Cigna from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 25th. Zacks Investment Research downgraded shares of Cigna from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 20th. Morgan Stanley cut their price objective on shares of Cigna from $304.00 to $299.00 and set an “overweight” rating for the company in a report on Tuesday, February 5th. Barclays cut their price objective on shares of Cigna from $220.00 to $207.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $245.00 price objective on shares of Cigna in a report on Sunday, April 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the stock. Cigna presently has an average rating of “Buy” and a consensus price target of $225.85.
CI opened at $155.27 on Thursday. Cigna has a twelve month low of $141.95 and a twelve month high of $226.60. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market cap of $58.93 billion, a P/E ratio of 10.92, a P/E/G ratio of 0.78 and a beta of 0.69.
In other news, Director William D. Zollars sold 272 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $168.43, for a total transaction of $45,812.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian C. Evanko purchased 2,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were purchased at an average price of $163.40 per share, with a total value of $326,800.00. The disclosure for this purchase can be found here. 0.80% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its position in shares of Cigna by 42,687.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 31,752,725 shares of the health services provider’s stock worth $167,000 after purchasing an additional 31,678,514 shares during the period. BlackRock Inc. boosted its position in shares of Cigna by 59.4% during the 4th quarter. BlackRock Inc. now owns 26,892,201 shares of the health services provider’s stock worth $5,107,369,000 after purchasing an additional 10,021,719 shares during the period. Vanguard Group Inc boosted its position in shares of Cigna by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 17,800,567 shares of the health services provider’s stock worth $3,706,967,000 after purchasing an additional 260,042 shares during the period. FMR LLC boosted its position in shares of Cigna by 12.1% during the 4th quarter. FMR LLC now owns 10,057,798 shares of the health services provider’s stock worth $1,910,176,000 after purchasing an additional 1,087,358 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Cigna by 26.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,891,910 shares of the health services provider’s stock worth $1,308,914,000 after purchasing an additional 1,445,822 shares during the period. Institutional investors and hedge funds own 88.61% of the company’s stock.
Cigna Company Profile
Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
Featured Story: Fundamental Analysis
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cigna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cigna and related companies with MarketBeat.com's FREE daily email newsletter.