In its upcoming report, Elevance Health (ELV) is predicted by Wall Street analysts to post quarterly earnings of $6.18 per share, reflecting a decline of 30.1% compared to the same period last year. Revenues are forecasted to be $48.45 billion, representing a year-over-year decrease of 2%.
The current level reflects a downward revision of 0.1% 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 it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Elevance Health metrics that Wall Street analysts commonly model and monitor.
Analysts predict that the 'Revenues- Net investment income' will reach $446.85 million. The estimate points to a change of -8.1% from the year-ago quarter.
Analysts' assessment points toward 'Revenues- Service fees' reaching $2.24 billion. The estimate indicates a change of +6% from the prior-year quarter.
The average prediction of analysts places 'Revenues- Premiums' at $39.90 billion. The estimate indicates a year-over-year change of -3.3%.
The consensus estimate for 'Revenues- Product revenue' stands at $6.32 billion. The estimate suggests a change of +4.7% year over year.
The combined assessment of analysts suggests that 'Total Medical Membership' will likely reach 44.82 million. Compared to the present estimate, the company reported 45.62 million in the same quarter last year.
Based on the collective assessment of analysts, 'Medical Membership - Medicare - Medicare Advantage' should arrive at 1.87 million. Compared to the current estimate, the company reported 2.26 million in the same quarter of the previous year.
According to the collective judgment of analysts, 'Medical Membership - Medicaid' should come in at 8.23 million. Compared to the present estimate, the company reported 8.73 million in the same quarter last year.
Analysts forecast 'Medical Membership - Federal Employees Health Benefits' to reach 1.56 million. Compared to the current estimate, the company reported 1.64 million in the same quarter of the previous year.
Analysts expect 'Medical Membership - Total Medicare' to come in at 2.75 million. Compared to the current estimate, the company reported 3.13 million in the same quarter of the previous year.
The consensus among analysts is that 'Medical Membership - Commercial Risk-Based - Individual' will reach 1.21 million. The estimate compares to the year-ago value of 1.35 million.
It is projected by analysts that the 'Benefit Expense Ratio' will reach 89.4%. The estimate compares to the year-ago value of 88.9%.
The collective assessment of analysts points to an estimated 'Medical Membership - Commercial Fee-Based' of 27.68 million. Compared to the current estimate, the company reported 27.15 million in the same quarter of the previous year.
View all Key Company Metrics for Elevance Health here>>>Elevance Health shares have witnessed a change of +5.3% in the past month, in contrast to the Zacks S&P 500 composite's +2.2% 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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