FY2017 EPS Estimates for Cigna Corporation Increased by Jefferies Group (CI)
Cigna Corporation (NYSE:CI) – Investment analysts at Jefferies Group lifted their FY2017 EPS estimates for shares of Cigna Corporation in a note issued to investors on Thursday. Jefferies Group analyst D. Windley now anticipates that the health services provider will earn $10.41 per share for the year, up from their prior estimate of $10.07. Jefferies Group has a “Buy” rating and a $231.00 price target on the stock. Jefferies Group also issued estimates for Cigna Corporation’s Q4 2017 earnings at $1.88 EPS, Q1 2018 earnings at $3.22 EPS, Q2 2018 earnings at $3.23 EPS and Q4 2018 earnings at $2.44 EPS.
Cigna Corporation (NYSE:CI) last released its earnings results on Thursday, November 2nd. The health services provider reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.47. Cigna Corporation had a net margin of 5.74% and a return on equity of 18.85%. The firm had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.17 billion. During the same quarter in the previous year, the business earned $1.94 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year.
CI has been the subject of a number of other research reports. Zacks Investment Research raised shares of Cigna Corporation from a “hold” rating to a “buy” rating and set a $214.00 target price for the company in a report on Monday, October 9th. BMO Capital Markets started coverage on shares of Cigna Corporation in a report on Monday, October 16th. They set a “market perform” rating and a $210.00 target price for the company. Citigroup Inc. lifted their target price on shares of Cigna Corporation from $198.00 to $231.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. BidaskClub lowered shares of Cigna Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $185.00 price target on shares of Cigna Corporation in a report on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Cigna Corporation has an average rating of “Buy” and a consensus price target of $201.50.
Shares of Cigna Corporation (CI) opened at $205.49 on Monday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.37. Cigna Corporation has a fifty-two week low of $122.35 and a fifty-two week high of $206.45. The company has a market cap of $50,542.69, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 1.56 and a beta of 0.49.
In other Cigna Corporation news, Director William D. Zollars sold 1,232 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $187.23, for a total transaction of $230,667.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Lisa R. Bacus sold 2,236 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $179.95, for a total transaction of $402,368.20. Following the sale, the executive vice president now directly owns 18,501 shares in the company, valued at $3,329,254.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,715 shares of company stock valued at $678,797. Company insiders own 1.30% of the company’s stock.
A number of large investors have recently modified their holdings of CI. JPMorgan Chase & Co. lifted its position in Cigna Corporation by 40.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,088,728 shares of the health services provider’s stock worth $684,413,000 after buying an additional 1,184,632 shares in the last quarter. Waddell & Reed Financial Inc. lifted its position in Cigna Corporation by 125.8% during the 1st quarter. Waddell & Reed Financial Inc. now owns 1,749,647 shares of the health services provider’s stock worth $256,306,000 after buying an additional 974,747 shares in the last quarter. FMR LLC lifted its position in Cigna Corporation by 6.7% during the 2nd quarter. FMR LLC now owns 6,909,638 shares of the health services provider’s stock worth $1,156,604,000 after buying an additional 432,978 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Cigna Corporation by 4,082.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 438,231 shares of the health services provider’s stock worth $73,355,000 after buying an additional 427,754 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Cigna Corporation by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,130,735 shares of the health services provider’s stock worth $2,867,514,000 after buying an additional 424,469 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.
Cigna Corporation Company Profile
Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.
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