Analysts expect that Centene Corp (NYSE:CNC) will report sales of $13.17 billion for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Centene’s earnings. The highest sales estimate is $13.74 billion and the lowest is $12.65 billion. Centene posted sales of $11.72 billion during the same quarter last year, which indicates a positive year over year growth rate of 12.4%. The company is scheduled to announce its next earnings results on Tuesday, April 24th.
On average, analysts expect that Centene will report full year sales of $13.17 billion for the current year, with estimates ranging from $60.63 billion to $61.55 billion. For the next year, analysts expect that the firm will post sales of $67.80 billion per share, with estimates ranging from $66.75 billion to $69.96 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Centene.
Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The firm had revenue of $12.81 billion for the quarter, compared to analyst estimates of $12.25 billion. Centene had a net margin of 1.71% and a return on equity of 13.68%. Centene’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share.
CNC has been the topic of several research reports. Jefferies Group increased their price objective on shares of Centene from $112.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. Piper Jaffray Companies reiterated a “buy” rating and set a $134.00 price objective on shares of Centene in a research note on Monday, December 18th. Cantor Fitzgerald restated a “buy” rating and issued a $115.00 target price on shares of Centene in a research report on Monday, December 18th. Oppenheimer restated a “buy” rating and issued a $111.00 target price on shares of Centene in a research report on Friday, December 15th. Finally, ValuEngine upgraded shares of Centene from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $110.28.
Centene (CNC) traded up $0.37 on Tuesday, reaching $105.61. 2,029,473 shares of the company traded hands, compared to its average volume of 1,361,780. The firm has a market capitalization of $18,151.23, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 1.00 and a beta of 0.76. Centene has a 52-week low of $65.03 and a 52-week high of $112.42. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.68.
In other news, EVP Keith H. Williamson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $100.11, for a total value of $500,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher D. Bowers sold 4,800 shares of the stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $102.27, for a total transaction of $490,896.00. The disclosure for this sale can be found here. Insiders sold 37,300 shares of company stock valued at $3,802,509 over the last quarter. Insiders own 3.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of CNC. Focused Wealth Management Inc boosted its holdings in shares of Centene by 900.0% in the fourth quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock valued at $101,000 after acquiring an additional 900 shares in the last quarter. Financial Gravity Companies Inc. bought a new position in shares of Centene in the fourth quarter valued at approximately $112,000. We Are One Seven LLC bought a new position in shares of Centene in the fourth quarter valued at approximately $114,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Centene in the fourth quarter valued at approximately $131,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of Centene in the fourth quarter valued at approximately $145,000. Institutional investors and hedge funds own 90.53% of the company’s stock.
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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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