Zacks: Brokerages Expect CIGNA Co. (CI) Will Post Earnings of $3.39 Per Share

Wall Street analysts expect CIGNA Co. (NYSE:CI) to announce $3.39 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for CIGNA’s earnings, with estimates ranging from $3.20 to $3.54. CIGNA reported earnings per share of $2.77 in the same quarter last year, which would suggest a positive year-over-year growth rate of 22.4%. The company is scheduled to announce its next quarterly earnings report on Friday, May 4th.

On average, analysts expect that CIGNA will report full year earnings of $12.81 per share for the current year, with EPS estimates ranging from $11.65 to $13.21. For the next fiscal year, analysts anticipate that the firm will report earnings of $14.46 per share, with EPS estimates ranging from $13.96 to $15.10. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover CIGNA.

CIGNA (NYSE:CI) last announced its quarterly earnings data on Thursday, February 1st. The health services provider reported $1.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.07. The company had revenue of $10.53 billion during the quarter, compared to analysts’ expectations of $10.28 billion. CIGNA had a return on equity of 18.84% and a net margin of 5.38%. CIGNA’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.87 EPS.

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price target on CIGNA to $255.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Oppenheimer lifted their price target on CIGNA to $237.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Citigroup lifted their price target on CIGNA from $198.00 to $231.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. ValuEngine upgraded CIGNA from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Credit Suisse Group assumed coverage on CIGNA in a report on Thursday, November 2nd. They set an “outperform” rating and a $219.00 price target for the company. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $210.12.

In other news, EVP John M. Murabito sold 28,037 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $205.68, for a total transaction of $5,766,650.16. Following the completion of the sale, the executive vice president now owns 60,290 shares in the company, valued at $12,400,447.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Isaiah Harris, Jr. sold 212 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $209.35, for a total value of $44,382.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,663 shares of company stock valued at $13,329,903. Corporate insiders own 1.30% of the company’s stock.

Several large investors have recently modified their holdings of CI. Lord Abbett & CO. LLC boosted its holdings in shares of CIGNA by 2.8% during the second quarter. Lord Abbett & CO. LLC now owns 43,600 shares of the health services provider’s stock worth $7,298,000 after acquiring an additional 1,200 shares during the period. Assenagon Asset Management S.A. raised its position in shares of CIGNA by 54.4% in the third quarter. Assenagon Asset Management S.A. now owns 22,058 shares of the health services provider’s stock valued at $4,124,000 after buying an additional 7,775 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of CIGNA by 0.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 614,153 shares of the health services provider’s stock valued at $114,811,000 after buying an additional 5,657 shares in the last quarter. Rockefeller Financial Services Inc. raised its position in shares of CIGNA by 100.3% in the third quarter. Rockefeller Financial Services Inc. now owns 10,905 shares of the health services provider’s stock valued at $2,039,000 after buying an additional 5,460 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. raised its position in shares of CIGNA by 74.2% in the third quarter. Winslow Evans & Crocker Inc. now owns 3,160 shares of the health services provider’s stock valued at $591,000 after buying an additional 1,346 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

CIGNA (NYSE:CI) opened at $193.81 on Monday. CIGNA has a 1-year low of $141.93 and a 1-year high of $227.13. The company has a quick ratio of 0.39, a current ratio of 0.37 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $47,283.25, a PE ratio of 18.55, a PEG ratio of 1.16 and a beta of 0.45.

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CIGNA Company Profile

Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.

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Earnings History and Estimates for CIGNA (NYSE:CI)

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