Finance
 Posted by - May 5, 2017

Cigna Corporation Boosts Guidance As Q1 Profit, Revenue Beat

Written by StockNews.com

CIGNA Corporation (NYSE: CI) early Friday posted market-beating first quarter earnings and lifted its full-year outlook, as it continues to attract customers to its plans.

The Bloomfield, CT-based health insurer reported Q1:

  • earnings per share (EPS) of $2.77, which was $0.31 better than the Wall Street consensus estimate of $2.46 [and that]
  • revenues rose 5.1% from last year to $10.38 billion, also topping analysts' view for $10.11 billion.

    • Looking ahead, CI:

  • forecast full year 2017 EPS of $9.25 to $9.75, up from a prior range of $9.00 to $9.50, and right in-line with Wall Street's view of $9.50 per share for the year.
  • [sees] 2017 revenues…rising 3% to 4% from last year to approximately $40.7 to $41.1 billion, above analysts' current estimate of $40.57 billion. Cigna had previously forecast 2% to 3% revenue growth for the year.

    • …[David M. Cordani, President, and Chief Executive Officer] commented via press release:

    “Cigna's strong first quarter performance reflects the value we are delivering to our customers and clients through affordable, high-quality and personalized solutions.

    We expect continued positive momentum and growth across targeted customer segments, fueled by ongoing investments in innovative products and services.”

    CI currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #4 of 12 stocks in the Medical – Health Insurance category.

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