$33.55 Billion in Sales Expected for Cigna Corp (CI) This Quarter

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Equities analysts expect Cigna Corp (NYSE:CI) to report sales of $33.55 billion for the current quarter, Zacks reports. Seven analysts have made estimates for Cigna’s earnings, with the highest sales estimate coming in at $36.66 billion and the lowest estimate coming in at $31.83 billion. Cigna posted sales of $11.42 billion in the same quarter last year, which suggests a positive year over year growth rate of 193.8%. The company is expected to issue its next earnings report on Thursday, May 2nd.

On average, analysts expect that Cigna will report full-year sales of $136.25 billion for the current year, with estimates ranging from $130.17 billion to $148.36 billion. For the next financial year, analysts anticipate that the business will post sales of $141.19 billion, with estimates ranging from $134.02 billion to $149.01 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Cigna.

Cigna (NYSE:CI) last posted its earnings results on Friday, February 1st. The health services provider reported $2.46 EPS for the quarter, missing the Zacks’ consensus estimate of $2.53 by ($0.07). Cigna had a return on equity of 16.64% and a net margin of 5.42%. The firm had revenue of $13.75 billion for the quarter, compared to analyst estimates of $11.38 billion. During the same quarter last year, the firm posted $1.94 EPS. The firm’s revenue for the quarter was up 29.3% on a year-over-year basis.

CI has been the topic of a number of research reports. ValuEngine lowered Cigna from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Morgan Stanley lowered their price target on Cigna from $304.00 to $299.00 and set an “overweight” rating on the stock in a report on Tuesday, February 5th. Goldman Sachs Group reissued a “buy” rating on shares of Cigna in a report on Saturday, February 2nd. Barclays reissued a “buy” rating and set a $220.00 price target on shares of Cigna in a report on Sunday, January 6th. Finally, Edward Jones initiated coverage on Cigna in a report on Wednesday, January 2nd. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $231.28.

In other Cigna news, insider Michael W. Triplett sold 9,148 shares of Cigna stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $181.01, for a total value of $1,655,879.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William D. Zollars sold 272 shares of Cigna 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 disclosure for this sale can be found here. Insiders sold a total of 10,420 shares of company stock worth $1,886,122 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CI. 1 North Wealth Services LLC acquired a new stake in shares of Cigna during the 4th quarter valued at approximately $25,000. Clarfeld Financial Advisors LLC acquired a new stake in shares of Cigna during the 4th quarter valued at approximately $25,000. Private Ocean LLC acquired a new stake in shares of Cigna during the 4th quarter valued at approximately $26,000. Delta Asset Management LLC TN acquired a new stake in shares of Cigna during the 4th quarter valued at approximately $28,000. Finally, Litman Gregory Asset Management LLC acquired a new stake in shares of Cigna during the 4th quarter valued at approximately $30,000. 93.44% of the stock is currently owned by institutional investors.

Shares of NYSE CI traded down $3.11 during midday trading on Friday, reaching $166.45. 3,753,106 shares of the company were exchanged, compared to its average volume of 2,930,273. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.96. Cigna has a 1 year low of $162.42 and a 1 year high of $226.60. The firm has a market cap of $64.80 billion, a P/E ratio of 11.71, a P/E/G ratio of 0.81 and a beta of 0.73.

The firm also recently disclosed a special dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Monday, March 11th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, March 8th. Cigna’s dividend payout ratio is presently 0.28%.

Cigna Company Profile

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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