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Elevance Health (ELV) Gains As Market Dips: What You Should Know
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Elevance Health (ELV - Free Report) closed at $450.15 in the latest trading session, marking a +1.76% move from the prior day. This move outpaced the S&P 500's daily loss of 0.42%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the health insurer had lost 6.04% in the past month. In that same time, the Medical sector gained 1.89%, while the S&P 500 gained 1.02%.
Wall Street will be looking for positivity from Elevance Health as it approaches its next earnings report date. On that day, Elevance Health is projected to report earnings of $8.47 per share, which would represent year-over-year growth of 12.48%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.15 billion, up 6.38% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $32.89 per share and revenue of $168.43 billion, which would represent changes of +13.14% and +8.2%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Elevance Health. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% higher. Elevance Health is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Elevance Health is holding a Forward P/E ratio of 13.45. Its industry sports an average Forward P/E of 24.38, so we one might conclude that Elevance Health is trading at a discount comparatively.
Investors should also note that ELV has a PEG ratio of 1.11 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Medical Services stocks are, on average, holding a PEG ratio of 1.8 based on yesterday's closing prices.
The Medical Services industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ELV in the coming trading sessions, be sure to utilize Zacks.com.
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Elevance Health (ELV) Gains As Market Dips: What You Should Know
Elevance Health (ELV - Free Report) closed at $450.15 in the latest trading session, marking a +1.76% move from the prior day. This move outpaced the S&P 500's daily loss of 0.42%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the health insurer had lost 6.04% in the past month. In that same time, the Medical sector gained 1.89%, while the S&P 500 gained 1.02%.
Wall Street will be looking for positivity from Elevance Health as it approaches its next earnings report date. On that day, Elevance Health is projected to report earnings of $8.47 per share, which would represent year-over-year growth of 12.48%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.15 billion, up 6.38% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $32.89 per share and revenue of $168.43 billion, which would represent changes of +13.14% and +8.2%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Elevance Health. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% higher. Elevance Health is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Elevance Health is holding a Forward P/E ratio of 13.45. Its industry sports an average Forward P/E of 24.38, so we one might conclude that Elevance Health is trading at a discount comparatively.
Investors should also note that ELV has a PEG ratio of 1.11 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Medical Services stocks are, on average, holding a PEG ratio of 1.8 based on yesterday's closing prices.
The Medical Services industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 175, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ELV in the coming trading sessions, be sure to utilize Zacks.com.