Healthcare benefits company, Aetna Inc.(AET) saw a plunge in profits for the fourth quarter, and missed analysts estimates on Thursday.
The Hartford, CT based company reported Q4 net income of $190.1 million, or 56 cents per share, down -49% from $372.6 million, or $1.02 per share last year. Adjusted net income was $317 million, or 94 cents per share, down from $354.3 million, or 97 cents per share last year. Analysts were looking to see EPS of 96 cents.
Revenue for the quarter increased by 5% to $8.96 billion, from $8.54 billion last year. Analysts expected to see revenue of $8.97 billion.
For 2012, the company reported earnings of $1.66 billion, or $4.81 per share, down from $1.99 billion, or $5.22 per share in 2011. Adjusted earnings were the year were $1.77 billion, or $5.13 per share, down from $1.97 billion, or $5.17 per share in 2011. Analysts expected to see EPS of $5.15.
Looking ahead, the company is expecting to see FY2013 earnings of about $5.40 per share, which would fall short of analysts estimate of $5.53 per share.
Aetna shares were down 61 cents, or -1.25% during Thursday morning trading. The stock has increased 10% in the past year.
The Bottom Line
Shares of Aetna Inc.(AET) have a 1.67% yield, based on Thursday morning’s price of $47.98.
Aetna Inc.(AET) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.