Wall Street analysts forecast that Elevance Health (ELV) will report quarterly earnings of $9.20 per share in its upcoming release, pointing to a year-over-year decline of 9.1%. It is anticipated that revenues will amount to $48.13 billion, exhibiting an increase of 11.4% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain Elevance Health metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus estimate for 'Revenues- Premiums' stands at $39.62 billion. The estimate suggests a change of +11.9% year over year.
According to the collective judgment of analysts, 'Revenues- Service fees' should come in at $2.24 billion. The estimate suggests a change of -1.8% year over year.
Based on the collective assessment of analysts, 'Revenues- Net investment income' should arrive at $464.67 million. The estimate points to a change of -8.5% from the year-ago quarter.
Analysts forecast 'Revenues- Product revenue' to reach $6.14 billion. The estimate points to a change of +11.1% from the year-ago quarter.
The consensus among analysts is that 'Benefit Expense Ratio' will reach 88.4%. Compared to the present estimate, the company reported 86.3% in the same quarter last year.
Analysts expect 'Medical Membership - Medicare - Medicare Supplement' to come in at 868.88 thousand. The estimate is in contrast to the year-ago figure of 894.00 thousand.
It is projected by analysts that the 'Medical Membership - Commercial Risk-Based - Employer Group Risk-Based' will reach 3.64 million. Compared to the current estimate, the company reported 3.65 million in the same quarter of the previous year.
The average prediction of analysts places 'Medical Membership - Commercial Risk-Based' at 5.00 million. The estimate is in contrast to the year-ago figure of 4.93 million.
The collective assessment of analysts points to an estimated 'Total Medical Membership' of 45.83 million. The estimate is in contrast to the year-ago figure of 45.78 million.
The combined assessment of analysts suggests that 'Medical Membership - Medicare - Medicare Advantage' will likely reach 2.24 million. The estimate is in contrast to the year-ago figure of 2.03 million.
Analysts' assessment points toward 'Medical Membership - Medicaid' reaching 8.86 million. The estimate is in contrast to the year-ago figure of 9.03 million.
Analysts predict that the 'Medical Membership - Federal Employees Health Benefits' will reach 1.65 million. Compared to the current estimate, the company reported 1.66 million in the same quarter of the previous year.
View all Key Company Metrics for Elevance Health here>>>
Over the past month, shares of Elevance Health have returned -11.4% versus the Zacks S&P 500 composite's +4% change. Currently, ELV carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Elevance Health, Inc. (ELV): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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