Zacks: Brokerages Expect CIGNA Co. (CI) to Post $3.49 EPS

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Wall Street brokerages expect CIGNA Co. (NYSE:CI) to post $3.49 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for CIGNA’s earnings, with estimates ranging from $3.17 to $3.78. CIGNA reported earnings per share of $2.91 in the same quarter last year, which suggests a positive year over year growth rate of 19.9%. The business is expected to report its next earnings report on Friday, August 3rd.

On average, analysts expect that CIGNA will report full year earnings of $13.24 per share for the current fiscal year, with EPS estimates ranging from $13.17 to $13.40. For the next year, analysts expect that the firm will post earnings of $14.65 per share, with EPS estimates ranging from $14.11 to $15.10. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow CIGNA.

CIGNA (NYSE:CI) last announced its quarterly earnings data on Thursday, May 3rd. The health services provider reported $4.11 earnings per share for the quarter, topping the consensus estimate of $3.39 by $0.72. CIGNA had a return on equity of 20.90% and a net margin of 5.99%. The business had revenue of $11.38 billion during the quarter, compared to the consensus estimate of $10.97 billion. During the same period in the prior year, the company earned $2.77 EPS. CIGNA’s revenue for the quarter was up 8.6% on a year-over-year basis.

Several equities research analysts recently commented on CI shares. Goldman Sachs Group raised CIGNA from a “neutral” rating to a “buy” rating and raised their target price for the stock from $193.00 to $212.00 in a research note on Wednesday, June 6th. Zacks Investment Research raised CIGNA from a “hold” rating to a “buy” rating and set a $197.00 target price for the company in a research note on Monday, May 28th. Credit Suisse Group raised their target price on CIGNA from $215.00 to $218.00 and gave the stock an “outperform” rating in a research note on Friday, May 4th. Sanford C. Bernstein started coverage on CIGNA in a research note on Tuesday, March 13th. They set a “market perform” rating and a $194.00 target price for the company. Finally, Barclays started coverage on CIGNA in a research note on Thursday, March 8th. They set an “overweight” rating and a $235.00 target price for the company. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $217.00.

CIGNA stock traded down $0.92 during trading hours on Tuesday, hitting $174.08. The stock had a trading volume of 2,526,428 shares, compared to its average volume of 1,787,083. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $42.57 billion, a PE ratio of 16.64, a P/E/G ratio of 1.09 and a beta of 0.58. CIGNA has a one year low of $163.02 and a one year high of $227.13.

In other CIGNA news, Director William D. Zollars sold 265 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $176.93, for a total value of $46,886.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Hoeltzel Mary T. Agoglia sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $176.19, for a total value of $176,190.00. Following the completion of the sale, the vice president now directly owns 4,635 shares of the company’s stock, valued at approximately $816,640.65. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. HPM Partners LLC lifted its holdings in shares of CIGNA by 8.1% in the fourth quarter. HPM Partners LLC now owns 4,256 shares of the health services provider’s stock valued at $864,000 after purchasing an additional 319 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of CIGNA by 7.6% in the first quarter. Moors & Cabot Inc. now owns 5,547 shares of the health services provider’s stock valued at $930,000 after purchasing an additional 394 shares in the last quarter. Brown Advisory Inc. lifted its holdings in CIGNA by 1.7% during the fourth quarter. Brown Advisory Inc. now owns 23,562 shares of the health services provider’s stock worth $4,785,000 after acquiring an additional 399 shares during the period. D.A. Davidson & CO. lifted its holdings in CIGNA by 29.0% during the first quarter. D.A. Davidson & CO. now owns 2,068 shares of the health services provider’s stock worth $347,000 after acquiring an additional 465 shares during the period. Finally, Fulton Bank N.A. lifted its holdings in CIGNA by 27.3% during the first quarter. Fulton Bank N.A. now owns 2,251 shares of the health services provider’s stock worth $378,000 after acquiring an additional 483 shares during the period. 87.72% of the stock is owned by hedge funds and other institutional investors.

CIGNA Company Profile

Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments. The Global Health Care segment offers medical, dental, behavioral health, vision, and prescription drug benefit plans, as well as health advocacy programs, and other products and services to insured and self-insured customers.

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Earnings History and Estimates for CIGNA (NYSE:CI)

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