$11.15 Billion in Sales Expected for Cigna (CI) This Quarter
Wall Street brokerages expect Cigna (NYSE:CI) to post $11.15 billion in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Cigna’s earnings. The highest sales estimate is $11.37 billion and the lowest is $10.91 billion. Cigna posted sales of $10.27 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.6%. The business is expected to announce its next quarterly earnings results on Friday, August 3rd.
On average, analysts expect that Cigna will report full-year sales of $44.83 billion for the current year, with estimates ranging from $44.17 billion to $45.69 billion. For the next financial year, analysts expect that the company will post sales of $47.83 billion per share, with estimates ranging from $47.29 billion to $48.92 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Cigna.
Cigna (NYSE:CI) last posted its quarterly earnings data on Thursday, May 3rd. The health services provider reported $4.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.39 by $0.72. The business had revenue of $11.38 billion for the quarter, compared to analysts’ expectations of $10.97 billion. Cigna had a return on equity of 20.90% and a net margin of 5.99%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.77 EPS.
Cigna opened at $177.15 on Thursday, MarketBeat reports. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.37. The company has a market cap of $43.19 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.09 and a beta of 0.59. Cigna has a fifty-two week low of $174.87 and a fifty-two week high of $176.54.
In related news, CEO David Cordani sold 36,769 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $191.68, for a total value of $7,047,881.92. Following the completion of the transaction, the chief executive officer now directly owns 372,076 shares in the company, valued at approximately $71,319,527.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher J. Hocevar sold 2,759 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $191.84, for a total transaction of $529,286.56. Following the completion of the transaction, 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 sold 45,384 shares of company stock valued at $8,693,791. 1.10% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CI. Commerzbank Aktiengesellschaft FI raised its stake in Cigna by 19.5% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,667 shares of the health services provider’s stock valued at $339,000 after buying an additional 272 shares during the last quarter. Bfsg LLC raised its stake in Cigna by 23.1% during the 4th quarter. Bfsg LLC now owns 1,642 shares of the health services provider’s stock valued at $333,000 after buying an additional 308 shares during the last quarter. Atria Investments LLC raised its stake in Cigna by 9.6% during the 4th quarter. Atria Investments LLC now owns 3,580 shares of the health services provider’s stock valued at $727,000 after buying an additional 314 shares during the last quarter. HPM Partners LLC raised its stake in Cigna by 8.1% during the 4th quarter. HPM Partners LLC now owns 4,256 shares of the health services provider’s stock valued at $864,000 after buying an additional 319 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its stake in Cigna by 1.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 29,786 shares of the health services provider’s stock valued at $6,049,000 after buying an additional 379 shares during the last quarter. Institutional investors own 89.48% of the company’s stock.
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.
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