Cigna (NYSE:CI) Posts Earnings Results, Beats Estimates By $0.66 EPS
Cigna (NYSE:CI) posted its quarterly earnings results on Thursday. The health services provider reported $5.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.15 by $0.66, MarketWatch Earnings reports. The company had revenue of $39.27 billion for the quarter, compared to the consensus estimate of $37.93 billion. Cigna had a return on equity of 15.89% and a net margin of 3.41%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.30 EPS. Cigna updated its FY 2020
Pre-Market guidance to 18.00-18.60 EPS and its FY20 guidance to $18.00-18.60 EPS.
Shares of NYSE CI traded down $5.78 during mid-day trading on Friday, hitting $172.69. The company had a trading volume of 2,452,731 shares, compared to its average volume of 1,887,986. The company has a market capitalization of $63.72 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 0.87 and a beta of 0.70. The firm has a 50-day simple moving average of $184.19 and a two-hundred day simple moving average of $189.90. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 0.67. Cigna has a one year low of $118.50 and a one year high of $224.64.
CI has been the topic of several research analyst reports. Barclays dropped their price objective on Cigna from $232.00 to $229.00 and set an “overweight” rating on the stock in a research note on Monday, May 4th. BMO Capital Markets raised their price objective on Cigna from $215.00 to $242.00 and gave the stock an “outperform” rating in a research note on Friday, June 5th. SunTrust Banks dropped their price objective on Cigna from $280.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Sanford C. Bernstein downgraded Cigna from an “outperform” rating to a “market perform” rating and set a $223.00 price objective on the stock. in a research note on Monday, May 4th. Finally, UBS Group lowered their target price on Cigna from $252.00 to $246.00 and set a “buy” rating for the company in a report on Friday, June 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Cigna presently has an average rating of “Buy” and an average target price of $244.00.
Cigna Company Profile
Cigna Corporation, a health service organization, provides insurance and related products and services in the United States and internationally. It operates through Integrated Medical, Health Services, International Markets, and Group Disability and Other segments. The Integrated Medical segment offers medical, pharmacy, dental, behavioral health and vision, health advocacy programs, and other products and services to insured and self-insured clients; Medicare Advantage, Medicare Supplement, and Medicare Part D plans to Medicare-eligible beneficiaries, as well as Medicaid plans; and health insurance coverage to individual customers on and off the public exchanges.
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