The upcoming report from Elevance Health (ELV) is expected to reveal quarterly earnings of $10.61 per share, indicating a decline of 11.4% compared to the year-ago period. Analysts forecast revenues of $48.37 billion, representing a decline of 0.8% year over year.
Over the last 30 days, there has been a downward revision of 0.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
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 typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Elevance Health metrics that Wall Street analysts commonly model and monitor.
The average prediction of analysts places 'Revenues- Net investment income' at $480.23 million. The estimate suggests a change of -18.6% year over year.
Analysts' assessment points toward 'Revenues- Service fees' reaching $2.13 billion. The estimate points to a change of +3.1% from the year-ago quarter.
Based on the collective assessment of analysts, 'Revenues- Premiums' should arrive at $40.13 billion. The estimate indicates a change of -1.8% from the prior-year quarter.
The consensus estimate for 'Revenues- Product revenue' stands at $6.09 billion. The estimate points to a change of +4.9% from the year-ago quarter.
Analysts forecast 'Total Medical Membership' to reach 44.05 million. The estimate compares to the year-ago value of 45.83 million.
It is projected by analysts that the 'Medical Membership - Medicare - Medicare Advantage' will reach 1.84 million. Compared to the present estimate, the company reported 2.26 million in the same quarter last year.
The combined assessment of analysts suggests that 'Medical Membership - Medicaid' will likely reach 8.11 million. Compared to the present estimate, the company reported 8.86 million in the same quarter last year.
The consensus among analysts is that 'Medical Membership - Federal Employees Health Benefits' will reach 1.59 million. Compared to the current estimate, the company reported 1.65 million in the same quarter of the previous year.
Analysts predict that the 'Medical Membership - Total Medicare' will reach 2.69 million. The estimate compares to the year-ago value of 3.13 million.
According to the collective judgment of analysts, 'Medical Membership - Commercial Risk-Based - Individual' should come in at 1.06 million. The estimate is in contrast to the year-ago figure of 1.42 million.
Analysts expect 'Benefit Expense Ratio' to come in at 87.5%. The estimate is in contrast to the year-ago figure of 86.4%.
The collective assessment of analysts points to an estimated 'Medical Membership - Commercial Fee-Based' of 27.29 million. Compared to the present estimate, the company reported 27.13 million in the same quarter last year.
View all Key Company Metrics for Elevance Health here>>>Over the past month, shares of Elevance Health have returned +8.5% versus the Zacks S&P 500 composite's +5.2% change. Currently, ELV carries a Zacks Rank #4 (Sell), suggesting that it may underperform 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 Report
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