Wall Street analysts expect Cigna Co. (NYSE:CI) to report sales of $44.04 billion for the current quarter, Zacks reports. Eight analysts have provided estimates for Cigna’s earnings, with the lowest sales estimate coming in at $43.47 billion and the highest estimate coming in at $44.91 billion. Cigna reported sales of $41.67 billion in the same quarter last year, which indicates a positive year over year growth rate of 5.7%. The company is expected to report its next quarterly earnings report on Thursday, February 3rd.
On average, analysts expect that Cigna will report full-year sales of $172.37 billion for the current year, with estimates ranging from $170.86 billion to $173.34 billion. For the next financial year, analysts expect that the business will post sales of $181.67 billion, with estimates ranging from $177.86 billion to $184.87 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Cigna.
Cigna (NYSE:CI) last posted its quarterly earnings results on Thursday, November 4th. The health services provider reported $5.73 earnings per share for the quarter, topping analysts’ consensus estimates of $5.23 by $0.50. The firm had revenue of $44.30 billion for the quarter, compared to analyst estimates of $42.88 billion. Cigna had a net margin of 4.93% and a return on equity of 13.72%. Cigna’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $4.41 earnings per share.
A number of brokerages have commented on CI. BMO Capital Markets reduced their target price on shares of Cigna from $300.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, November 8th. Bank of America downgraded shares of Cigna from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $240.00 to $225.00 in a research note on Friday, September 10th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Cigna in a research note on Wednesday, November 17th. Zacks Investment Research downgraded shares of Cigna from a “hold” rating to a “sell” rating and set a $215.00 target price on the stock. in a research note on Monday, September 13th. Finally, Seaport Research Partners began coverage on shares of Cigna in a research note on Wednesday, November 17th. They set a “buy” rating and a $270.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cigna presently has an average rating of “Buy” and a consensus price target of $265.77.
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A number of hedge funds and other institutional investors have recently bought and sold shares of CI. Baldrige Asset Management LLC acquired a new position in Cigna during the 2nd quarter worth approximately $28,000. Samalin Investment Counsel LLC acquired a new position in shares of Cigna in the 2nd quarter valued at $29,000. Financial Insights Inc. acquired a new position in shares of Cigna in the 2nd quarter valued at $31,000. Liberty Wealth Management LLC boosted its holdings in shares of Cigna by 19,515.4% in the 2nd quarter. Liberty Wealth Management LLC now owns 7,650 shares of the health services provider’s stock valued at $32,000 after buying an additional 7,611 shares in the last quarter. Finally, Wolff Wiese Magana LLC boosted its holdings in shares of Cigna by 203.7% in the 3rd quarter. Wolff Wiese Magana LLC now owns 164 shares of the health services provider’s stock valued at $33,000 after buying an additional 110 shares in the last quarter. Institutional investors own 87.09% of the company’s stock.
CI opened at $214.94 on Friday. The firm has a market capitalization of $71.24 billion, a PE ratio of 9.03, a PEG ratio of 0.93 and a beta of 0.87. Cigna has a twelve month low of $190.88 and a twelve month high of $272.81. The firm’s 50-day moving average price is $209.72 and its 200 day moving average price is $219.66. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.67.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 22nd. Investors of record on Tuesday, December 7th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.86%. The ex-dividend date is Monday, December 6th. Cigna’s payout ratio is currently 16.81%.
Cigna Corp. engages in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.
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