Analysts predict that Cigna (NYSE:CI) will report sales of $11.06 billion for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Cigna’s earnings, with the lowest sales estimate coming in at $10.97 billion and the highest estimate coming in at $11.14 billion. Cigna posted sales of $10.27 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.7%. The company is expected to issue its next quarterly earnings report on Friday, August 3rd.
According to Zacks, analysts expect that Cigna will report full-year sales of $44.57 billion for the current year, with estimates ranging from $44.33 billion to $44.77 billion. For the next financial year, analysts forecast that the company will report sales of $47.66 billion per share, with estimates ranging from $46.95 billion to $48.06 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Cigna.
Get Cigna alerts:
Cigna (NYSE:CI) last issued its quarterly earnings data on Thursday, May 3rd. The health services provider reported $4.11 EPS for the quarter, beating analysts’ consensus estimates of $3.39 by $0.72. Cigna had a return on equity of 20.90% and a net margin of 5.99%. The firm had revenue of $11.38 billion for the quarter, compared to analyst estimates of $10.97 billion. During the same period in the prior year, the firm posted $2.77 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis.
A number of brokerages have commented on CI. Credit Suisse Group upped their price objective on Cigna from $215.00 to $218.00 and gave the company an “outperform” rating in a report on Friday. Sanford C. Bernstein began coverage on Cigna in a report on Tuesday, March 13th. They issued a “market perform” rating and a $194.00 price objective on the stock. Barclays assumed coverage on Cigna in a report on Thursday, March 8th. They issued an “overweight” rating and a $235.00 price objective on the stock. Zacks Investment Research downgraded Cigna from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Finally, Oppenheimer upped their target price on Cigna to $237.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $210.53.
NYSE CI traded down $1.71 on Monday, reaching $171.17. The stock had a trading volume of 1,854,324 shares, compared to its average volume of 2,029,120. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.35 and a quick ratio of 0.37. Cigna has a 1-year low of $158.24 and a 1-year high of $227.13. The firm has a market cap of $41,988.30, a price-to-earnings ratio of 16.36, a P/E/G ratio of 1.03 and a beta of 0.59.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 10th. Investors of record on Monday, March 12th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, March 9th. This represents a $0.16 annualized dividend and a dividend yield of 0.09%. Cigna’s dividend payout ratio is currently 0.38%.
In related news, EVP Nicole S. Jones sold 5,856 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $190.68, for a total transaction of $1,116,622.08. Following the completion of the sale, the executive vice president now directly owns 36,658 shares in the company, valued at approximately $6,989,947.44. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher J. Hocevar sold 2,759 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $191.84, for a total value of $529,286.56. Following the sale, the insider now owns 12,784 shares of the company’s stock, valued at $2,452,482.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,384 shares of company stock valued at $8,693,791. 1.10% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in CI. Financial Gravity Companies Inc. bought a new stake in shares of Cigna during the 4th quarter worth $112,000. Stuart Chaussee & Associates Inc. bought a new position in Cigna in the fourth quarter valued at about $122,000. Cerebellum GP LLC bought a new position in Cigna in the fourth quarter valued at about $127,000. Aevitas Wealth Management Inc. bought a new position in Cigna in the fourth quarter valued at about $162,000. Finally, Community Bank N.A. bought a new position in Cigna in the fourth quarter valued at about $186,000. Institutional investors and hedge funds own 88.76% of the company’s stock.
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.
Get a free copy of the Zacks research report on Cigna (CI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com