Equities research analysts expect Centene Co. (NYSE:CNC) to report earnings of $1.93 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Centene’s earnings, with estimates ranging from $1.53 to $2.03. Centene posted earnings of $1.12 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 72.3%. The firm is expected to issue its next quarterly earnings report before the market opens on Tuesday, April 24th.
On average, analysts expect that Centene will report full year earnings of $7.20 per share for the current fiscal year, with EPS estimates ranging from $7.00 to $7.28. For the next financial year, analysts anticipate that the company will post earnings of $8.19 per share, with EPS estimates ranging from $7.80 to $8.50. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Centene.
Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $12.81 billion for the quarter, compared to analysts’ expectations of $12.25 billion. Centene had a return on equity of 13.68% and a net margin of 1.71%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.19 earnings per share.
Several equities analysts recently issued reports on CNC shares. ValuEngine upgraded Centene from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Goldman Sachs initiated coverage on Centene in a report on Wednesday, January 3rd. They set a “buy” rating and a $135.00 target price on the stock. Jefferies Group raised their target price on Centene from $112.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Piper Jaffray restated a “buy” rating and set a $134.00 target price on shares of Centene in a report on Monday, December 18th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $115.00 target price on shares of Centene in a report on Monday, December 18th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $110.28.
Centene stock opened at $109.92 on Friday. The stock has a market capitalization of $18,691.07, a P/E ratio of 21.85, a PEG ratio of 1.02 and a beta of 0.75. Centene has a 12-month low of $70.25 and a 12-month 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 related news, EVP Christopher D. Bowers sold 4,800 shares of Centene stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $102.27, for a total value of $490,896.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert K. Ditmore sold 8,750 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $104.13, for a total value of $911,137.50. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB increased its position in shares of Centene by 7.3% during the 4th quarter. Xact Kapitalforvaltning AB now owns 34,317 shares of the company’s stock worth $3,462,000 after purchasing an additional 2,329 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Centene by 7.0% during the 4th quarter. Handelsbanken Fonder AB now owns 190,500 shares of the company’s stock worth $19,218,000 after purchasing an additional 12,500 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Centene by 8.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 101,900 shares of the company’s stock worth $10,280,000 after purchasing an additional 7,731 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Centene by 4.0% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 98,733 shares of the company’s stock worth $9,960,000 after purchasing an additional 3,838 shares during the last quarter. Finally, We Are One Seven LLC acquired a new position in shares of Centene during the 4th quarter worth approximately $114,000. 90.58% of the stock is currently owned by hedge funds and other institutional investors.
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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. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.
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