The upcoming report from Elevance Health (ELV) is expected to reveal quarterly earnings of $4.66 per share, indicating a decline of 22.7% compared to the year-ago period. Analysts forecast revenues of $48.6 billion, representing a decline of 3% year over year.
The current level reflects no revision 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.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance 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.
That said, let's delve into the average estimates of some Elevance Health metrics that Wall Street analysts commonly model and monitor.
The collective assessment of analysts points to an estimated 'Revenues- Premiums' of $39.73 billion. The estimate indicates a change of -4.9% from the prior-year quarter.
Analysts forecast 'Revenues- Service fees' to reach $2.26 billion. The estimate suggests a change of +5.7% year over year.
Analysts expect 'Revenues- Net investment income' to come in at $476.23 million. The estimate suggests a change of -23.8% year over year.
Analysts' assessment points toward 'Revenues- Product revenue' reaching $6.49 billion. The estimate suggests a change of +5.3% year over year.
Analysts predict that the 'Total Medical Membership' will reach 44.26 million. The estimate is in contrast to the year-ago figure of 45.37 million.
According to the collective judgment of analysts, 'Medical Membership - Medicare - Medicare Advantage' should come in at 1.86 million. The estimate compares to the year-ago value of 2.25 million.
The consensus estimate for 'Medical Membership - Medicaid' stands at 8.05 million. Compared to the current estimate, the company reported 8.65 million in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Medical Membership - Federal Employees Health Benefits' will likely reach 1.55 million. Compared to the current estimate, the company reported 1.63 million in the same quarter of the previous year.
The average prediction of analysts places 'Medical Membership - Total Medicare' at 2.73 million. Compared to the current estimate, the company reported 3.12 million in the same quarter of the previous year.
It is projected by analysts that the 'Medical Membership - Commercial Risk-Based - Individual' will reach 1.12 million. The estimate is in contrast to the year-ago figure of 1.35 million.
Based on the collective assessment of analysts, 'Benefit Expense Ratio' should arrive at 91.4%. Compared to the current estimate, the company reported 91.3% in the same quarter of the previous year.
The consensus among analysts is that 'Medical Membership - Commercial Fee-Based' will reach 27.46 million. The estimate is in contrast to the year-ago figure of 27.00 million.
View all Key Company Metrics for Elevance Health here>>>Elevance Health shares have witnessed a change of +3.4% in the past month, in contrast to the Zacks S&P 500 composite's +2.4% move. With a Zacks Rank #2 (Buy), ELV is expected outperform 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 Report
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