$ELV Earnings Preview: Oversold Potential + Key Metrics AheadEarnings Estimates: Analysts forecast an EPS of $3.82 for the upcoming quarter, indicating a 32% year-over-year decline. Revenue is projected at $44.67 billion, a 5.2% increase from the same period last year.
Oversold Potential: With an oversold score of 59%, NYSE:ELV appears attractive for accumulation.
PEG Ratio: The PEG ratio stands at -0.77, suggesting undervaluation despite negative growth.
Valuation Metrics: A forward P/E of 11.03, lower than the trailing P/E of 14.14, indicates potential undervaluation.
Revenue Growth: Positive quarterly revenue growth estimates point to resilient performance.
In the previous quarter, Elevance reported an EPS of $8.37, missing the consensus estimate of $9.66, but achieved a 5.3% year-over-year revenue increase to $44.72 billion.
Guidance: In the previous quarter, Elevance Health revised its full-year 2024 adjusted EPS guidance downward to approximately $33, down from the prior estimate of $37.20, due to challenges in its Medicaid business.
Despite these hurdles, Elevance's diversified portfolio and strategic initiatives position it for potential growth.
