Wall Street analysts forecast that Elevance Health (ELV) will report quarterly earnings of $11.09 per share in its upcoming release, pointing to a year-over-year increase of 4.2%. It is anticipated that revenues will amount to $45.93 billion, exhibiting an increase of 8.7% compared to the year-ago quarter.
The current level reflects a downward revision of 1.5% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
With that in mind, let's delve into the average projections of some Elevance Health metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts expect 'Revenues- Premiums' to come in at $38.66 billion. The estimate indicates a year-over-year change of +8.3%.
The combined assessment of analysts suggests that 'Revenues- Service fees' will likely reach $2.13 billion. The estimate points to a change of +2.6% from the year-ago quarter.
Analysts predict that the 'Revenues- Net investment income' will reach $461.32 million. The estimate indicates a year-over-year change of -0.8%.
Analysts' assessment points toward 'Revenues- Product revenue' reaching $5.11 billion. The estimate indicates a change of +13.6% from the prior-year quarter.
Analysts forecast 'Total Medical Membership' to reach 46.24 million. Compared to the present estimate, the company reported 46.24 million in the same quarter last year.
The consensus among analysts is that 'Medical Membership - Medicare - Medicare Advantage' will reach 2.21 million. Compared to the present estimate, the company reported 2.02 million in the same quarter last year.
The collective assessment of analysts points to an estimated 'Medical Membership - Medicaid' of 8.89 million. Compared to the current estimate, the company reported 9.33 million in the same quarter of the previous year.
The average prediction of analysts places 'Medical Membership - Federal Employees Health Benefits' at 1.66 million. The estimate compares to the year-ago value of 1.66 million.
The consensus estimate for 'Medical Membership - Total Medicare' stands at 3.08 million. The estimate compares to the year-ago value of 2.91 million.
It is projected by analysts that the 'Medical Membership - Commercial Risk-Based - Individual' will reach 1.42 million. Compared to the current estimate, the company reported 1.25 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Benefit Expense Ratio' should arrive at 87.3%. Compared to the current estimate, the company reported 85.6% in the same quarter of the previous year.
According to the collective judgment of analysts, 'Medical Membership - Commercial Fee-Based' should come in at 27.44 million. The estimate is in contrast to the year-ago figure of 27.45 million.
View all Key Company Metrics for Elevance Health here>>>
Elevance Health shares have witnessed a change of +0.4% in the past month, in contrast to the Zacks S&P 500 composite's -4.2% move. With a Zacks Rank #3 (Hold), ELV is expected closely follow the overall market performance in the near term. 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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