Cigna Corp (CI) Expected to Post Quarterly Sales of $34.36 Billion

Share on StockTwits

Equities analysts expect Cigna Corp (NYSE:CI) to post $34.36 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Cigna’s earnings, with the lowest sales estimate coming in at $33.06 billion and the highest estimate coming in at $38.17 billion. Cigna reported sales of $11.50 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 198.8%. The business is scheduled to announce its next quarterly earnings report on Thursday, August 1st.

On average, analysts expect that Cigna will report full year sales of $137.14 billion for the current financial year, with estimates ranging from $132.79 billion to $150.32 billion. For the next fiscal year, analysts anticipate that the company will report sales of $142.43 billion, with estimates ranging from $138.24 billion to $149.87 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Cigna.

Cigna (NYSE:CI) last announced its quarterly earnings results on Thursday, May 2nd. The health services provider reported $3.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.74 by $0.16. The business had revenue of $33.43 billion during the quarter, compared to the consensus estimate of $32.79 billion. Cigna had a net margin of 4.11% and a return on equity of 14.23%. The business’s revenue was up 192.9% compared to the same quarter last year. During the same quarter last year, the firm earned $4.11 EPS.

CI has been the subject of a number of research analyst reports. ValuEngine cut shares of Cigna from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. UBS Group initiated coverage on shares of Cigna in a research report on Tuesday, April 23rd. They set a “buy” rating and a $185.00 price objective for the company. Morgan Stanley lowered their price objective on shares of Cigna from $304.00 to $299.00 and set an “overweight” rating for the company in a research report on Tuesday, February 5th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Cigna in a research report on Saturday, February 2nd. Finally, Zacks Investment Research raised shares of Cigna from a “hold” rating to a “strong-buy” rating and set a $171.00 price objective for the company in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $225.85.

NYSE:CI opened at $155.27 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $58.93 billion, a P/E ratio of 10.92, a P/E/G ratio of 0.78 and a beta of 0.69. Cigna has a fifty-two week low of $141.95 and a fifty-two week high of $226.60.

In other Cigna news, Director William D. Zollars sold 272 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $168.43, for a total value of $45,812.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian C. Evanko purchased 2,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was acquired at an average cost of $163.40 per share, with a total value of $326,800.00. The disclosure for this purchase can be found here. Company insiders own 0.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. BRYN MAWR TRUST Co lifted its position in shares of Cigna by 29.3% during the 1st quarter. BRYN MAWR TRUST Co now owns 10,508 shares of the health services provider’s stock worth $1,690,000 after purchasing an additional 2,380 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Cigna by 48.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 397 shares of the health services provider’s stock worth $64,000 after purchasing an additional 130 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of Cigna by 18.5% during the 1st quarter. Macquarie Group Ltd. now owns 4,398,789 shares of the health services provider’s stock worth $707,454,000 after purchasing an additional 687,549 shares during the last quarter. Coastal Investment Advisors Inc. purchased a new stake in shares of Cigna during the 1st quarter worth $121,000. Finally, SEI Investments Co lifted its position in shares of Cigna by 29.5% during the 1st quarter. SEI Investments Co now owns 367,842 shares of the health services provider’s stock worth $59,106,000 after purchasing an additional 83,787 shares during the last quarter. 88.61% of the stock is owned by institutional investors and hedge funds.

About Cigna

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.

Further Reading: Support Level

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

Earnings History and Estimates for Cigna (NYSE:CI)

Receive News & Ratings for Cigna Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cigna and related companies with MarketBeat.com's FREE daily email newsletter.