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) Dips More Than Broader Market: What You Should Know
Read MoreHide Full Article
Elevance Health (ELV - Free Report) closed at $498.35 in the latest trading session, marking a -1.19% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 1.02% for the day. On the other hand, the Dow registered a loss of 1.04%, and the technology-centric Nasdaq decreased by 1.65%.
Heading into today, shares of the health insurer had gained 2.86% over the past month, lagging the Medical sector's gain of 4.07% and the S&P 500's gain of 3.64% in that time.
Market participants will be closely following the financial results of Elevance Health in its upcoming release. The company is predicted to post an EPS of $10.50, indicating a 10.99% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $42.7 billion, indicating a 1.91% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $37.13 per share and revenue of $172.79 billion. These totals would mark changes of +12.04% and +1.52%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Elevance Health. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.01% upward. Right now, Elevance Health possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Elevance Health is currently trading at a Forward P/E ratio of 13.58. This signifies a discount in comparison to the average Forward P/E of 21.49 for its industry.
We can additionally observe that ELV currently boasts a PEG ratio of 1.13. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. ELV's industry had an average PEG ratio of 1.57 as of yesterday's close.
The Medical Services industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 69, placing it within the top 28% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Elevance Health (ELV) Dips More Than Broader Market: What You Should Know
Elevance Health (ELV - Free Report) closed at $498.35 in the latest trading session, marking a -1.19% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 1.02% for the day. On the other hand, the Dow registered a loss of 1.04%, and the technology-centric Nasdaq decreased by 1.65%.
Heading into today, shares of the health insurer had gained 2.86% over the past month, lagging the Medical sector's gain of 4.07% and the S&P 500's gain of 3.64% in that time.
Market participants will be closely following the financial results of Elevance Health in its upcoming release. The company is predicted to post an EPS of $10.50, indicating a 10.99% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $42.7 billion, indicating a 1.91% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $37.13 per share and revenue of $172.79 billion. These totals would mark changes of +12.04% and +1.52%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Elevance Health. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.01% upward. Right now, Elevance Health possesses a Zacks Rank of #2 (Buy).
In terms of valuation, Elevance Health is currently trading at a Forward P/E ratio of 13.58. This signifies a discount in comparison to the average Forward P/E of 21.49 for its industry.
We can additionally observe that ELV currently boasts a PEG ratio of 1.13. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. ELV's industry had an average PEG ratio of 1.57 as of yesterday's close.
The Medical Services industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 69, placing it within the top 28% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.