Elevance Health Inc (NYSE: ELV) has reported earnings for its second fiscal quarter (ending June 30) of $9.85 versus $7.83 for the same period a year ago — an increase of 26%. However, this performance was $-0.16 short of the consensus estimate of $10.01. For the latest four quarters through June 30, E.P.S. were $28.57 versus $26.53 for the same period a year ago — an increase of 8%.
Recent Price Action
On 7/17/24, Elevance Health Inc (NYSE: ELV) stock suffered a large decline of -5.8%, closing at $520.93. Moreover, trading volume in this decline was exceptionally high at 400% of normal. Relative to the market the stock has been strong over the last nine months but has declined -1.6% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, ELV is expected to continue to be a major Value Builder.
Elevance Health has a current Value Trend Rating of C (High Neutral). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Elevance Health has a neutral Appreciation Score of 44 but a good Power Rating of 70, and the High Neutral Value Trend Rating results.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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