Cigna (NYSE:CI) Issues FY21 Earnings Guidance

Cigna (NYSE:CI) issued an update on its FY21 earnings guidance on Wednesday morning. The company provided EPS guidance of 20.00-21.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $20.47. Cigna also updated its FY20 guidance to 18.00-18.60 EPS.

Shares of CI opened at $169.36 on Friday. The company’s fifty day moving average is $178.34 and its 200-day moving average is $183.32. Cigna has a 12 month low of $118.50 and a 12 month high of $224.64. The firm has a market cap of $62.33 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 0.83 and a beta of 0.67. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.67.

Cigna (NYSE:CI) last announced its quarterly earnings results on Thursday, July 30th. The health services provider reported $5.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.15 by $0.66. Cigna had a net margin of 3.41% and a return on equity of 15.89%. The company had revenue of $39.27 billion for the quarter, compared to analyst estimates of $37.93 billion. During the same quarter in the prior year, the business posted $4.30 EPS. Cigna’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, research analysts predict that Cigna will post 18.51 earnings per share for the current fiscal year.

CI has been the topic of several analyst reports. Goldman Sachs Group increased 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. SVB Leerink lowered their target price on shares of Cigna from $220.00 to $207.00 and set a market perform rating on the stock in a research note on Friday, July 31st. UBS Group lowered their target price on shares of Cigna from $252.00 to $246.00 and set a buy rating on the stock in a research note on Friday, June 5th. BMO Capital Markets raised their target price on shares of Cigna from $215.00 to $242.00 and gave the company an outperform rating in a research note on Friday, June 5th. Finally, Royal Bank of Canada raised their target price on shares of Cigna from $266.00 to $270.00 and gave the company an outperform rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $243.70.

In other news, EVP Nicole S. Jones sold 9,424 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $185.00, for a total transaction of $1,743,440.00. Following the completion of the transaction, the executive vice president now directly owns 35,409 shares of the company’s stock, valued at approximately $6,550,665. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Partridge sold 2,700 shares of the firm’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $180.04, for a total transaction of $486,108.00. Following the transaction, 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. 0.90% of the stock is currently owned by company insiders.

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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