We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Elevance Health (ELV) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
In the latest trading session, Elevance Health (ELV - Free Report) closed at $449.26, marking a +0.11% move from the previous day. The stock lagged the S&P 500's daily gain of 0.67%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 1.14%.
Prior to today's trading, shares of the health insurer had lost 5.34% over the past month. This has lagged the Medical sector's gain of 0.27% and the S&P 500's loss of 0.73% in that time.
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 should also note any recent changes to analyst estimates for Elevance Health. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 remained stagnant. Elevance Health is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Elevance Health is currently trading at a Forward P/E ratio of 13.64. For comparison, its industry has an average Forward P/E of 22.35, which means Elevance Health is trading at a discount to the group.
It is also worth noting that ELV currently has a PEG ratio of 1.12. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical Services stocks are, on average, holding a PEG ratio of 1.77 based on yesterday's closing prices.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Elevance Health (ELV) Gains But Lags Market: What You Should Know
In the latest trading session, Elevance Health (ELV - Free Report) closed at $449.26, marking a +0.11% move from the previous day. The stock lagged the S&P 500's daily gain of 0.67%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 1.14%.
Prior to today's trading, shares of the health insurer had lost 5.34% over the past month. This has lagged the Medical sector's gain of 0.27% and the S&P 500's loss of 0.73% in that time.
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 should also note any recent changes to analyst estimates for Elevance Health. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 remained stagnant. Elevance Health is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Elevance Health is currently trading at a Forward P/E ratio of 13.64. For comparison, its industry has an average Forward P/E of 22.35, which means Elevance Health is trading at a discount to the group.
It is also worth noting that ELV currently has a PEG ratio of 1.12. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical Services stocks are, on average, holding a PEG ratio of 1.77 based on yesterday's closing prices.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.