Health insurance company Cigna (NYSE:CI) will be reporting earnings this Thursday before market open. Here’s what to expect.
Cigna beat analysts’ revenue expectations last quarter, reporting revenues of $68.52 billion, up 4.7% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and full-year EPS guidance in line with analysts’ estimates. It added 200,000 customers to reach a total of 16.62 million.
Is Cigna a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Cigna’s revenue to grow 5.3% year on year, slowing from the 11% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Cigna has a history of exceeding Wall Street’s expectations.
Looking at Cigna’s peers in the health insurance providers segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Centene delivered year-on-year revenue growth of 9.9%, beating analysts’ expectations by 13.1%, and UnitedHealth reported flat revenue, topping estimates by 1.2%. UnitedHealth traded up 1.8% following the results.
Read our full analysis of Centene’s results here and UnitedHealth’s results here.
There has been positive sentiment among investors in the health insurance providers segment, with share prices up 4.4% on average over the last month. Cigna is up 7.4% during the same time and is heading into earnings with an average analyst price target of $340.92 (compared to the current share price of $299.30).
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