Analysts Anticipate Cigna Co. (NYSE:CI) Will Announce Earnings of $5.62 Per Share

Equities research analysts expect that Cigna Co. (NYSE:CIGet Rating) will post earnings per share of $5.62 for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Cigna’s earnings, with the lowest EPS estimate coming in at $5.04 and the highest estimate coming in at $6.51. Cigna reported earnings of $5.24 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 7.3%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Cigna will report full year earnings of $22.64 per share for the current financial year, with EPS estimates ranging from $22.49 to $22.82. For the next year, analysts anticipate that the firm will report earnings of $25.27 per share, with EPS estimates ranging from $24.60 to $26.30. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Cigna.

Cigna (NYSE:CIGet Rating) last announced its quarterly earnings results on Friday, May 6th. The health services provider reported $6.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.13 by $0.88. Cigna had a return on equity of 15.31% and a net margin of 3.04%. The business had revenue of $44.01 billion during the quarter, compared to the consensus estimate of $43.48 billion. During the same quarter last year, the firm posted $4.73 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis.

Several equities analysts have recently commented on the company. StockNews.com began coverage on Cigna in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. SVB Leerink boosted their price objective on Cigna from $224.00 to $245.00 and gave the company a “market perform” rating in a research report on Tuesday, February 22nd. Cowen raised Cigna from a “market perform” rating to an “outperform” rating and upped their target price for the company from $242.00 to $329.00 in a research note on Monday, May 9th. Mizuho increased their price objective on Cigna from $266.00 to $291.00 in a research note on Monday, May 9th. Finally, Cowen upgraded Cigna from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $242.00 to $329.00 in a report on Monday, May 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Cigna presently has a consensus rating of “Buy” and a consensus target price of $280.20.

In other Cigna news, EVP Nicole S. Jones sold 12,070 shares of Cigna stock in a transaction on Monday, April 18th. The stock was sold at an average price of $259.03, for a total transaction of $3,126,492.10. Following the completion of the transaction, the executive vice president now owns 35,201 shares in the company, valued at $9,118,115.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Cordani sold 10,069 shares of the business’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $228.70, for a total value of $2,302,780.30. The disclosure for this sale can be found here. Insiders have sold 142,998 shares of company stock worth $37,628,011 over the last ninety days. 0.80% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CI. EagleClaw Capital Managment LLC lifted its holdings in Cigna by 4.1% in the third quarter. EagleClaw Capital Managment LLC now owns 12,883 shares of the health services provider’s stock valued at $2,578,000 after acquiring an additional 510 shares during the period. NorthRock Partners LLC lifted its stake in shares of Cigna by 29.0% in the 3rd quarter. NorthRock Partners LLC now owns 1,575 shares of the health services provider’s stock valued at $315,000 after purchasing an additional 354 shares during the last quarter. First Republic Investment Management Inc. lifted its stake in Cigna by 6.6% during the 3rd quarter. First Republic Investment Management Inc. now owns 34,796 shares of the health services provider’s stock worth $6,965,000 after acquiring an additional 2,168 shares in the last quarter. Aviva PLC lifted its stake in Cigna by 6.1% during the 3rd quarter. Aviva PLC now owns 117,059 shares of the health services provider’s stock worth $23,431,000 after acquiring an additional 6,751 shares in the last quarter. Finally, Scotia Capital Inc. increased its holdings in Cigna by 26.7% during the 3rd quarter. Scotia Capital Inc. now owns 17,737 shares of the health services provider’s stock worth $3,550,000 after purchasing an additional 3,733 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

CI traded up $3.88 during trading on Monday, hitting $263.37. The company’s stock had a trading volume of 1,092,267 shares, compared to its average volume of 1,632,141. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.67. Cigna has a twelve month low of $191.74 and a twelve month high of $271.71. The stock’s fifty day moving average price is $252.20 and its 200-day moving average price is $234.29. The firm has a market capitalization of $83.56 billion, a P/E ratio of 16.34, a PEG ratio of 1.02 and a beta of 0.78.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 23rd. Shareholders of record on Wednesday, June 8th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 1.70%. The ex-dividend date is Tuesday, June 7th. Cigna’s dividend payout ratio (DPR) is presently 27.79%.

Cigna Company Profile (Get Rating)

Cigna Corporation provides insurance and related products and services in the United States. Its Evernorth segment provides a range of coordinated and point solution health services, including pharmacy, benefits management, care delivery and management, and intelligence solutions to health plans, employers, government organizations, and health care providers.

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Earnings History and Estimates for Cigna (NYSE:CI)

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