Equities analysts predict that Centene Corp (NYSE:CNC) will announce earnings per share (EPS) of $1.24 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Centene’s earnings, with estimates ranging from $1.03 to $1.37. Centene reported earnings of $1.39 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 10.8%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, April 28th.
On average, analysts expect that Centene will report full year earnings of $4.81 per share for the current financial year, with EPS estimates ranging from $4.75 to $4.96. For the next fiscal year, analysts anticipate that the firm will report earnings of $5.79 per share, with EPS estimates ranging from $5.61 to $6.05. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Centene.
Centene (NYSE:CNC) last posted its earnings results on Tuesday, February 4th. The company reported $0.73 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. Centene had a net margin of 1.77% and a return on equity of 15.18%. The firm had revenue of $18.86 billion during the quarter, compared to analyst estimates of $18.45 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The business’s revenue was up 13.9% compared to the same quarter last year.
CNC has been the topic of a number of research analyst reports. Credit Suisse Group boosted their price target on shares of Centene from $65.00 to $72.50 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Goldman Sachs Group initiated coverage on shares of Centene in a report on Friday, February 7th. They issued a “buy” rating and a $80.00 price target on the stock. Wolfe Research raised shares of Centene from a “peer perform” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. initiated coverage on shares of Centene in a report on Wednesday, February 5th. They issued an “overweight” rating and a $88.00 price target on the stock. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $80.00 price target on shares of Centene in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $77.21.
In other Centene news, CEO Michael F. Neidorff sold 100,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.23, for a total transaction of $6,023,000.00. Following the sale, the chief executive officer now directly owns 6,913,390 shares of the company’s stock, valued at $416,393,479.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Keith H. Williamson sold 11,000 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $59.13, for a total transaction of $650,430.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,500 shares of company stock worth $11,648,920. Insiders own 2.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citizens Financial Group Inc RI lifted its holdings in Centene by 71.6% during the third quarter. Citizens Financial Group Inc RI now owns 628 shares of the company’s stock valued at $27,000 after purchasing an additional 262 shares during the last quarter. Savior LLC bought a new stake in shares of Centene during the fourth quarter valued at about $32,000. Shine Investment Advisory Services Inc. increased its position in shares of Centene by 44.9% during the fourth quarter. Shine Investment Advisory Services Inc. now owns 549 shares of the company’s stock valued at $35,000 after buying an additional 170 shares during the period. Penserra Capital Management LLC increased its position in shares of Centene by 104.2% during the fourth quarter. Penserra Capital Management LLC now owns 582 shares of the company’s stock valued at $36,000 after buying an additional 297 shares during the period. Finally, Meeder Asset Management Inc. increased its position in shares of Centene by 43.0% during the fourth quarter. Meeder Asset Management Inc. now owns 609 shares of the company’s stock valued at $38,000 after buying an additional 183 shares during the period. 97.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:CNC opened at $64.94 on Friday. The company’s 50-day moving average is $64.01 and its 200 day moving average is $54.29. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.01 and a current ratio of 1.57. The company has a market capitalization of $26.87 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 0.99 and a beta of 0.95. Centene has a fifty-two week low of $41.62 and a fifty-two week high of $68.64.
Centene Company Profile
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
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