Yahoo Finance Cigna (CI) Gains But Lags Market: What You Should Know
Cigna (CI) closed at $250.33 in the latest trading session, marking a +0.87% move from the prior day. The stock lagged the S&P 500's daily gain of 1.96%. Elsewhere, the Dow gained 1.57%, while the tech-heavy Nasdaq lost 3.03%.
Coming into today, shares of the health insurer had lost 2.31% in the past month. In that same time, the Finance sector gained 3.14%, while the S&P 500 gained 2.19%.
Investors will be hoping for strength from Cigna as it approaches its next earnings release, which is expected to be May 5, 2023. The company is expected to report EPS of $5.35, down 10.98% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $45.36 billion, up 2.84% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $24.78 per share and revenue of $187.58 billion. These totals would mark changes of +6.49% and +3.84%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Cigna. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.39% lower. Cigna is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Cigna currently has a Forward P/E ratio of 10.02. This valuation marks a premium compared to its industry's average Forward P/E of 8.56.
We can also see that CI currently has a PEG ratio of 0.89. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CI's industry had an average PEG ratio of 0.96 as of yesterday's close.
The Insurance - Multi line industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cigna Group (CI) : Free Stock Analysis Report
