Cigna (CI) Stock Down Despite Earnings Beat

Cigna (CI) stock is down in early-morning trading after the company reported its 2015 third quarter earnings results today.
By Amanda Albright ,

NEW YORK (TheStreet) --  Cigna (CI) - Get Report stock is down by 1.33% to $130.64 in early-morning trading on Friday, after the company's 2015 third quarter revenue results missed analyst expectations.

Before the market open on Friday, the Bloomfield, CT-based healthcare company reported earnings of $2.28 per share.

Revenue increased by 7% year over year to $9.4 billion.

Analysts were expecting the company to report earnings of $2.20 per share on revenue of $9.52 billion for the most recent quarter.

Cigna raised its full year 2015 earnings outlook to a range between $8.40 per share and $8.60 per share, which is an increase of 5 cents at the midpoint. 

"Cigna's third quarter results demonstrate the ongoing value we deliver to our customers and clients," Cigna CEO David Cordani said in a statement. "The effective execution of our focused strategy to provide affordable, personalized solutions is reflected in our increased outlook for 2015 and gives us the momentum to drive continued growth in 2016."

Separately, TheStreet Ratings team rates CIGNA CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

We rate CIGNA CORP (CI) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance and growth in earnings per share. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

You can view the full analysis from the report here: CI

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

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