Oscar Health Inc. Faces Earnings Expectations Amid Market Fluctuations
Oscar Health, Inc. (OSCR) ended the latest trading day at $17.37, reflecting a decline of -1.19% from the prior trading session. This drop was sharper than the S&P 500’s loss of 0.76%. The Dow Jones Industrial Average fell 0.75%, while the Nasdaq, which focuses on tech stocks, lost 1.01%.
Recent Performance and Monthly Losses
Over the past month, Oscar Health shares have significantly decreased by 19.8%. This underperformance stands in contrast to the Finance sector, which reported a loss of 3.43%, and the S&P 500, which gained 4.31% during the same time period.
Upcoming Earnings Report and Expected Growth
Investors are keenly awaiting Oscar Health’s upcoming earnings report, scheduled for November 7, 2024. Analysts predict an earnings per share (EPS) of -$0.20, which would indicate a growth of 31.03% compared to the same quarter last year. Additionally, revenue is expected to reach $2.32 billion, reflecting a 61.39% increase year-over-year.
Yearly Projections and Analyst Sentiment
For the full year, the Zacks Consensus Estimates project earnings of $0.01 per share and revenue of $9.04 billion. These figures would represent notable growth, increasing by 100.82% and 54.2%, respectively, compared to the previous year. Analysts often revise their estimates based on recent business trends, and these updates can signal confidence in a company’s future profitability.
Understanding Stock Performance and Zacks Rank
Research indicates that changes in analyst estimates correlate with stock price movements. The Zacks Rank system leverages these estimate adjustments to provide actionable ratings. This system ranks stocks from #1 (Strong Buy) to #5 (Strong Sell). Historically, #1 rated stocks have delivered average returns of +25% annually since 1988. Currently, Oscar Health holds a Zacks Rank of #3 (Hold), with no changes to the EPS consensus estimate over the past month.
Valuation Metrics Highlight Premium Positioning
Investors should also consider valuation metrics. Oscar Health has a Forward P/E ratio of 1318.5, significantly above the industry’s average Forward P/E of 10.65. Furthermore, the company’s PEG ratio stands at 34.83, which, while reflecting similar expectations for growth, contrasts sharply with the Insurance – Multi line industry’s average PEG ratio of 1.23.
Industry Context and Performance Indicators
The Insurance – Multi line industry falls under the broader Finance sector, currently ranking 99th in the Zacks Industry Rankings, placing it in the top 40% of over 250 industries. Strongly rated industries tend to outperform weaker ones, reinforcing the importance of understanding these metrics when making investment decisions.
Stay Informed on Market Developments
For ongoing updates on stock performance metrics and more, be sure to visit Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
