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The Cigna Group (CI) is a global health services company worth a market cap of $79.2 billion. The Bloomfield, Connecticut-based company is recognized for its extensive portfolio of insurance products and health services, which include medical, dental, disability, life, and accident insurance. The company is set to announce its fiscal Q4 earnings results before the market opens on Thursday, Jan. 30.
Ahead of the event, analysts expect CI to report a profit of $7.83 per share, up 15.3% from $6.79 per share in the year-ago quarter. The company has consistently exceeded Wall Street's EPS estimates in all of its last four quarterly reports. Its adjusted earnings of $7.51 per share for the last quarter surpassed the consensus estimate by 4%.
For fiscal 2024, analysts expect CI to report EPS of $28.50, up 13.6% from $25.09 in fiscal 2023.
Shares of CI have dropped 6.7% over the past 52 weeks, underperforming the broader S&P 500 Index's ($SPX) 24.4% gains and the Healthcare Select Sector SPDR Fund’s (XLV) marginal gains over the same time frame.
On Oct. 31, CI shares closed up marginally after reporting its Q3 results. Its adjusted EPS of $7.51 exceeded Wall Street expectations of $7.22. The company’s adjusted revenue was $63.7 billion, beating Wall Street forecasts of $59.8 billion.
The consensus opinion on CI stock is very optimistic, with an overall “Strong Buy” rating. Out of 23 analysts covering the stock, 17 advise a “Strong Buy” rating, two suggest a “Moderate Buy” rating, and four recommend a “Hold.” CI's average analyst price target is $395.23, indicating a potential upside of 38.9% from the current levels.
