Cigna (NYSE:CI) Updates FY20 Earnings Guidance

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Cigna (NYSE:CI) updated its FY20 earnings guidance on Thursday. The company provided EPS guidance of $18.00-18.60 for the period, compared to the Thomson Reuters consensus EPS estimate of $18.41. The company issued revenue guidance of $154-156 billion, compared to the consensus revenue estimate of $154.47 billion.Cigna also updated its FY 2020
Pre-Market guidance to 18.00-18.60 EPS.

Shares of CI stock opened at $172.69 on Friday. The company’s fifty day moving average price is $184.19 and its 200-day moving average price is $189.90. The stock has a market cap of $63.72 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 0.85 and a beta of 0.70. 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 12 month low of $118.50 and a 12 month high of $224.64.

Cigna (NYSE:CI) last issued its quarterly earnings results on Thursday, July 30th. The health services provider reported $5.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.15 by $0.66. The company had revenue of $39.27 billion during the quarter, compared to analysts’ expectations of $37.93 billion. Cigna had a net margin of 3.41% and a return on equity of 15.89%. Cigna’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the company posted $4.30 EPS. On average, sell-side analysts forecast that Cigna will post 18.49 earnings per share for the current fiscal year.

Several analysts recently weighed in on CI shares. BMO Capital Markets upped their price target on Cigna from $215.00 to $242.00 and gave the stock an outperform rating in a research note on Friday, June 5th. Morgan Stanley raised their price target on Cigna from $251.00 to $258.00 and gave the company an overweight rating in a report on Monday, April 13th. Goldman Sachs Group upped their price target on shares of Cigna from $244.00 to $264.00 and gave the stock a buy rating in a research note on Friday, June 5th. Barclays cut their price objective on shares of Cigna from $232.00 to $229.00 and set an overweight rating on the stock in a research report on Monday, May 4th. Finally, Royal Bank of Canada lifted their target price on shares of Cigna from $249.00 to $266.00 and gave the stock an outperform rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average target price of $244.00.

In related news, CEO David Cordani sold 1,490 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $205.00, for a total transaction of $305,450.00. Following the completion of the sale, the chief executive officer now directly owns 49,459 shares in the company, valued at $10,139,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Partridge sold 2,700 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $180.04, for a total transaction of $486,108.00. Following the sale, the director now directly owns 27,216 shares of the company’s stock, valued at $4,899,968.64. The disclosure for this sale can be found here. Insiders have sold a total of 231,802 shares of company stock worth $48,470,825 over the last three months. Insiders own 0.90% of the company’s stock.

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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Earnings History and Estimates for Cigna (NYSE:CI)

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