Centene Corporation (NYSE:CNC) – Stock analysts at Leerink Swann reduced their Q4 2017 earnings estimates for Centene Corporation in a research note issued on Wednesday, according to Zacks Investment Research. Leerink Swann analyst A. Gupte now expects that the company will post earnings per share of $0.82 for the quarter, down from their previous estimate of $0.93. Leerink Swann currently has a “Market Perform” rating and a $90.00 target price on the stock.
Centene Corporation (NYSE:CNC) last issued its earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.11. Centene Corporation had a return on equity of 14.79% and a net margin of 1.81%. The business had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.75 billion. During the same period in the prior year, the business posted $1.12 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. TRADEMARK VIOLATION NOTICE: This article was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://www.dispatchtribunal.com/2017/11/12/leerink-swann-comments-on-centene-corporations-q4-2017-earnings-cnc.html.
Other equities analysts also recently issued reports about the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $98.00 price objective on shares of Centene Corporation in a research note on Thursday, July 27th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Centene Corporation in a research note on Thursday, July 27th. ValuEngine upgraded Centene Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 27th. Cantor Fitzgerald reiterated a “buy” rating and set a $90.00 target price on shares of Centene Corporation in a report on Tuesday, July 25th. Finally, Bank of America Corporation increased their target price on Centene Corporation from $93.00 to $95.00 and gave the company a “buy” rating in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Centene Corporation has an average rating of “Buy” and a consensus target price of $97.53.
Centene Corporation (CNC) traded up $0.40 during midday trading on Friday, reaching $93.68. The company had a trading volume of 653,400 shares, compared to its average volume of 1,710,298. Centene Corporation has a 12-month low of $50.33 and a 12-month high of $98.71. The stock has a market cap of $16,097.00, a P/E ratio of 17.77, a P/E/G ratio of 1.42 and a beta of 0.67. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71.
In other Centene Corporation news, Director Robert K. Ditmore sold 4,167 shares of Centene Corporation stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $90.42, for a total value of $376,780.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CNC. FMR LLC boosted its position in shares of Centene Corporation by 86.7% during the first quarter. FMR LLC now owns 600,743 shares of the company’s stock worth $42,809,000 after buying an additional 279,056 shares during the period. Teachers Advisors LLC boosted its position in shares of Centene Corporation by 24.6% during the first quarter. Teachers Advisors LLC now owns 570,023 shares of the company’s stock worth $40,620,000 after buying an additional 112,439 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Centene Corporation by 38.2% during the first quarter. PNC Financial Services Group Inc. now owns 16,340 shares of the company’s stock worth $1,163,000 after buying an additional 4,518 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in shares of Centene Corporation during the first quarter worth approximately $404,000. Finally, Marshall Wace North America L.P. bought a new stake in Centene Corporation during the first quarter worth approximately $404,000. Institutional investors and hedge funds own 92.88% of the company’s stock.
About Centene Corporation
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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