UnitedHealth Group (NYSE:UNH) Updates FY 2024 Earnings Guidance

UnitedHealth Group (NYSE:UNH) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 27.500-27.750 for the period, compared to the consensus earnings per share estimate of 27.700. The company issued revenue guidance of -. UnitedHealth Group also updated its FY24 guidance to $27.50-27.75 EPS.

UnitedHealth Group Stock Performance

NYSE UNH opened at $571.30 on Thursday. UnitedHealth Group has a fifty-two week low of $436.38 and a fifty-two week high of $608.63. The firm has a market capitalization of $527.55 billion, a P/E ratio of 37.88, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58. The stock’s fifty day moving average is $584.21 and its two-hundred day moving average is $532.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.88 and a current ratio of 0.88.

UnitedHealth Group (NYSE:UNH) last announced its quarterly earnings data on Tuesday, October 15th. The healthcare conglomerate reported $7.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.00 by $0.15. The firm had revenue of $100.82 billion during the quarter, compared to analyst estimates of $99.14 billion. UnitedHealth Group had a net margin of 3.66% and a return on equity of 26.55%. UnitedHealth Group’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.56 earnings per share. On average, research analysts anticipate that UnitedHealth Group will post 27.68 earnings per share for the current year.

UnitedHealth Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Monday, September 16th were given a $2.10 dividend. The ex-dividend date was Monday, September 16th. This represents a $8.40 dividend on an annualized basis and a yield of 1.47%. UnitedHealth Group’s dividend payout ratio is currently 55.70%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. KeyCorp began coverage on shares of UnitedHealth Group in a report on Friday, October 11th. They issued an “overweight” rating and a $675.00 price objective on the stock. Barclays upped their price objective on shares of UnitedHealth Group from $560.00 to $604.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Truist Financial restated a “buy” rating and set a $625.00 price target (down from $640.00) on shares of UnitedHealth Group in a research note on Wednesday. Morgan Stanley cut their price objective on UnitedHealth Group from $615.00 to $610.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, HSBC lifted their target price on UnitedHealth Group from $580.00 to $610.00 in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $615.16.

UnitedHealth Group Company Profile

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. The company operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; health care coverage, and health and well-being services to individuals age 50 and older addressing their needs; Medicaid plans, children's health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage.