In its upcoming report, Elevance Health (ELV) is predicted by Wall Street analysts to post quarterly earnings of $3.07 per share, reflecting a decline of 20.1% compared to the same period last year. Revenues are forecasted to be $49.53 billion, representing a year-over-year increase of 10.1%.
The consensus EPS estimate for the quarter has been revised 0.2% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link 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 a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
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.
The average prediction of analysts places 'Revenues- Service fees' at $2.13 billion. The estimate indicates a year-over-year change of +4.7%.
The collective assessment of analysts points to an estimated 'Revenues- Premiums' of $40.69 billion. The estimate indicates a year-over-year change of +12.3%.
Analysts' assessment points toward 'Revenues- Net investment income' reaching $469.69 million. The estimate suggests a change of -10.9% year over year.
Based on the collective assessment of analysts, 'Revenues- Product revenue' should arrive at $6.82 billion. The estimate suggests a change of +1.5% year over year.
It is projected by analysts that the 'Total Medical Membership' will reach 45.40 million. Compared to the present estimate, the company reported 45.73 million in the same quarter last year.
The consensus estimate for 'Medical Membership - Medicare - Medicare Advantage' stands at 2.24 million. Compared to the current estimate, the company reported 2.07 million in the same quarter of the previous year.
Analysts predict that the 'Medical Membership - Medicaid' will reach 8.60 million. The estimate is in contrast to the year-ago figure of 8.92 million.
The consensus among analysts is that 'Medical Membership - Federal Employees Health Benefits' will reach 1.63 million. The estimate compares to the year-ago value of 1.66 million.
The combined assessment of analysts suggests that 'Medical Membership - Total Medicare' will likely reach 3.11 million. The estimate compares to the year-ago value of 2.96 million.
Analysts expect 'Medical Membership - Commercial Risk-Based - Individual' to come in at 1.33 million. The estimate compares to the year-ago value of 1.29 million.
Analysts forecast 'Benefit Expense Ratio' to reach 93.4%. The estimate compares to the year-ago value of 92.4%.
According to the collective judgment of analysts, 'Medical Membership - Commercial Fee-Based' should come in at 27.08 million. The estimate compares to the year-ago value of 27.20 million.
View all Key Company Metrics for Elevance Health here>>>
Shares of Elevance Health have demonstrated returns of +8.4% over the past month compared to the Zacks S&P 500 composite's +0.6% change. With a Zacks Rank #4 (Sell), ELV is expected to lag the overall market performance 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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