Equities analysts expect Centene Co. (NYSE:CNC) to announce earnings of $1.74 per share for the current quarter, Zacks reports. Seven analysts have provided estimates for Centene’s earnings. The highest EPS estimate is $1.89 and the lowest is $1.53. Centene posted earnings per share of $1.59 during the same quarter last year, which suggests a positive year over year growth rate of 9.4%. The company is expected to issue its next quarterly earnings report on Tuesday, July 24th.
On average, analysts expect that Centene will report full-year earnings of $7.05 per share for the current financial year, with EPS estimates ranging from $6.93 to $7.15. For the next year, analysts forecast that the business will report earnings of $8.18 per share, with EPS estimates ranging from $7.90 to $8.50. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Centene.
Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, April 24th. The company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.25. The company had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $13.33 billion. Centene had a return on equity of 15.69% and a net margin of 2.06%. Centene’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 earnings per share.
A number of analysts have commented on CNC shares. Cantor Fitzgerald restated a “buy” rating and issued a $125.00 price target on shares of Centene in a research report on Monday, April 2nd. Zacks Investment Research cut Centene from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 10th. ValuEngine upgraded Centene from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Citigroup restated an “outperform” rating and issued a $130.00 price target (up previously from $122.00) on shares of Centene in a research report on Wednesday, February 7th. Finally, Morgan Stanley upped their price target on Centene from $118.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $116.20.
In related news, EVP Keith H. Williamson sold 1,000 shares of the stock in a transaction dated Wednesday, May 2nd. The stock was sold at an average price of $115.00, for a total transaction of $115,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christopher D. Bowers sold 4,800 shares of the stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $102.27, for a total value of $490,896.00. The disclosure for this sale can be found here. Insiders have sold 265,550 shares of company stock valued at $28,712,209 in the last quarter. 3.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Centene by 4.6% during the fourth quarter. BlackRock Inc. now owns 13,939,406 shares of the company’s stock valued at $1,406,209,000 after buying an additional 616,914 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Centene by 1.0% during the first quarter. JPMorgan Chase & Co. now owns 2,725,000 shares of the company’s stock valued at $291,222,000 after buying an additional 26,402 shares during the last quarter. Geode Capital Management LLC boosted its stake in Centene by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 2,252,890 shares of the company’s stock valued at $226,889,000 after buying an additional 72,566 shares during the last quarter. Northern Trust Corp boosted its stake in Centene by 0.8% during the first quarter. Northern Trust Corp now owns 1,994,281 shares of the company’s stock valued at $213,129,000 after buying an additional 16,383 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Centene by 19.1% during the fourth quarter. Deutsche Bank AG now owns 1,775,194 shares of the company’s stock valued at $179,077,000 after buying an additional 284,620 shares during the last quarter. 76.39% of the stock is owned by institutional investors.
CNC traded up $1.81 during midday trading on Friday, reaching $118.42. The company had a trading volume of 1,060,425 shares, compared to its average volume of 2,352,183. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. The stock has a market cap of $23.93 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 1.13 and a beta of 0.75. Centene has a 1 year low of $72.14 and a 1 year high of $118.93.
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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