Unum (UNM) Beats Stock Market Upswing: What Investors Need to Know
In the latest market close, Unum (UNM) reached $50.78, with a +1.68% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 1.06%. Elsewhere, the Dow saw an upswing of 0.93%, while the tech-heavy Nasdaq appreciated by 1.2%.
The insurance company's shares have seen an increase of 2.91% over the last month, surpassing the Finance sector's loss of 4.1% and the S&P 500's loss of 3%.
Investors will be eagerly watching for the performance of Unum in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 31, 2023. The company's upcoming EPS is projected at $1.92, signifying a 27.15% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.1 billion, up 4.5% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.75 per share and a revenue of $12.37 billion, indicating changes of +24.8% and +3.01%, respectively, from the former year.
Any recent changes to analyst estimates for Unum should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.17% upward. Unum is currently a Zacks Rank #3 (Hold).
With respect to valuation, Unum is currently being traded at a Forward P/E ratio of 6.45. This expresses a discount compared to the average Forward P/E of 12.49 of its industry.
We can additionally observe that UNM currently boasts a PEG ratio of 0.88. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Insurance - Accident and Health industry currently had an average PEG ratio of 1.66 as of yesterday's close.
The Insurance - Accident and Health industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 22, placing it within the top 9% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Unum Group (UNM) : Free Stock Analysis Report
