Humana (NYSE:HUM) Releases FY24 Earnings Guidance

Humana (NYSE:HUM) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of at least $16.00 for the period, compared to the consensus earnings per share estimate of $16.17. Humana also updated its FY 2024 guidance to 16.000- EPS.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HUM shares. JPMorgan Chase & Co. increased their price target on shares of Humana from $332.00 to $396.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Bank of America cut Humana from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $376.00 to $247.00 in a research report on Wednesday, October 2nd. Truist Financial decreased their price objective on Humana from $400.00 to $260.00 and set a “hold” rating for the company in a report on Friday, October 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $395.00 price objective on shares of Humana in a report on Tuesday, October 1st. Finally, Sanford C. Bernstein raised shares of Humana from a “market perform” rating to an “outperform” rating and set a $308.00 price target on the stock in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $315.33.

Humana Price Performance

Shares of NYSE HUM traded up $10.41 during midday trading on Wednesday, hitting $268.18. 1,419,466 shares of the company’s stock were exchanged, compared to its average volume of 1,848,386. The business’s fifty day moving average price is $302.69 and its two-hundred day moving average price is $335.58. The company has a market cap of $32.32 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 2.04 and a beta of 0.50. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.70. Humana has a 12-month low of $213.31 and a 12-month high of $527.18.

Humana (NYSE:HUM) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $6.96 EPS for the quarter, topping analysts’ consensus estimates of $5.89 by $1.07. Humana had a net margin of 1.53% and a return on equity of 16.12%. The business had revenue of $29.54 billion during the quarter, compared to analysts’ expectations of $28.52 billion. During the same quarter in the previous year, the company earned $8.94 EPS. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, research analysts forecast that Humana will post 16.06 EPS for the current fiscal year.

Humana Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.885 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.54 annualized dividend and a dividend yield of 1.32%. Humana’s dividend payout ratio is currently 22.04%.

About Humana

Humana Inc, together with its subsidiaries, provides medical and specialty insurance products in the United States. It operates through two segments, Insurance and CenterWell. The company offers medical and supplemental benefit plans to individuals. It has a contract with Centers for Medicare and Medicaid Services to administer the Limited Income Newly Eligible Transition prescription drug plan program; and contracts with various states to provide Medicaid, dual eligible, and long-term support services benefits.