Market Update: Aetna Inc (NYSE:AET) – A.M. Best Removes From Under Review and Downgrades Issuer Credit Ratings of Aetna Inc. and Some of Its Subsidiaries

[Business Wire] – A.M. Best has removed from under review with negative implications and downgraded the issuer credit rating to “bbb” from “bbb+” of Aetna Inc. . Read more on this. Aetna Inc. (AET) , valued at $42.13B, began trading this morning at $121.12. Looking at today’s market, AET one day range is $119.98 to $122.36 with a one year range of $92.42 to $134.40. AET shares are currently priced at 15.08x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 8.54x earnings multiple. And for dividend hunters, the company pays shareholders $1.00 per share annually in dividends, yielding 0.83%. According to a consensus of 20 analysts, the earnings estimate of $2.12 per share would be $0.07 better than the year-ago quarter and a $0.01 sequential decrease. Investors should also note that the full-year EPS estimate of $8.03 is a $0.32 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $15.70 Billion. If reported, that would be a 3.77% increase over the year-ago quarter. In terms of ratings, Bernstein Initiated AET at Outperform (Jun 16, 2016). Previously, Jefferies downgraded AET from Buy to Hold. Given all the information above, we should disclose to readers that the average price target is $139.29, which is 15.00% above than it opened this morning. See more in (NYSE:AET) Similar Articles: Market Update: Aetna Inc (NYSE:AET) – CoventryCares Medicaid Plan Changes Name to Aetna Better Health of Virginia Market Update: Aetna Inc (NYSE:AET) – Aetna and Mount Sinai Health Partners Create Accountable Care Organization Alliance Market Update: Aetna Inc (NYSE:AET) – Aetna Offering Individual Products under Accountable Care Agreements with PinnacleHealth and Valley Preferred