Why Cigna Stock Is Plummeting Today
Shares of Cigna (NYSE: CI) were dropping Thursday. The stock was down 8.4% as of 1:20 p.m. ET but had lost as much as 11.3% earlier in the day. The leg down comes as the S 500 gained 0.2% and the Nasdaq Composite lost 0.2%.
The insurer reported earnings before the market open, missing certain estimates and offering guidance that disappointed investors.
While Cigna's Q4 revenue of $65.65 billion beat Wall Street's estimate of $63.44, rising medical costs led to a much more significant earnings-per-share (EPS) miss. The company delivered $6.64 per share, when Wall Street expected $7.82.
Source Fool.com
Cigna Corp. Stock
€230.25
-0.600%
The stock is an absolute favorite of our community with 41 Buy predictions and no Sell predictions.
With a target price of 348 € there is a hugely positive potential of 51.14% for Cigna Corp. compared to the current price of 230.25 €.
