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In the latest market close, Oscar Health, Inc. (OSCR) reached $13.30, with a -1.34% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.97%. Meanwhile, the Dow lost 1.69%, and the Nasdaq, a tech-heavy index, lost 2.7%.
The company's shares have seen a decrease of 8.86% over the last month, not keeping up with the Finance sector's loss of 0.82% and the S&P 500's loss of 2.79%.
The investment community will be paying close attention to the earnings performance of Oscar Health, Inc. in its upcoming release. On that day, Oscar Health, Inc. is projected to report earnings of $0.83 per share, which would represent year-over-year growth of 33.87%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.8 billion, up 30.75% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.69 per share and a revenue of $11.04 billion, indicating changes of +590% and +20.34%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Oscar Health, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Oscar Health, Inc. boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Oscar Health, Inc. has a Forward P/E ratio of 19.54 right now. This signifies a premium in comparison to the average Forward P/E of 10.4 for its industry.
The Insurance - Multi line industry is part of the Finance sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.