FY2018 Earnings Forecast for WellCare Health Plans, Inc. Issued By Jefferies Financial Group (WCG)

WellCare Health Plans, Inc. (NYSE:WCG) – Analysts at Jefferies Financial Group increased their FY2018 earnings per share (EPS) estimates for WellCare Health Plans in a report released on Tuesday, October 30th. Jefferies Financial Group analyst D. Windley now forecasts that the company will earn $11.04 per share for the year, up from their prior forecast of $10.90. Jefferies Financial Group has a “Hold” rating and a $268.00 price target on the stock. Jefferies Financial Group also issued estimates for WellCare Health Plans’ Q1 2019 earnings at $3.21 EPS, Q2 2019 earnings at $4.26 EPS, Q3 2019 earnings at $3.88 EPS, Q4 2019 earnings at $1.92 EPS, FY2019 earnings at $13.26 EPS and FY2020 earnings at $15.83 EPS.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, October 30th. The company reported $3.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.09 by $0.24. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.06 billion. WellCare Health Plans had a return on equity of 15.45% and a net margin of 2.38%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $4.08 earnings per share.

Other equities research analysts have also issued reports about the company. SunTrust Banks upped their price target on WellCare Health Plans to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Wells Fargo & Co restated a “buy” rating on shares of WellCare Health Plans in a research note on Tuesday, July 31st. Argus upped their price target on WellCare Health Plans from $265.00 to $360.00 and gave the stock a “buy” rating in a research note on Friday, August 31st. Bank of America upped their price target on WellCare Health Plans from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Finally, BMO Capital Markets set a $345.00 price target on WellCare Health Plans and gave the stock a “buy” rating in a research note on Friday, September 14th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $301.13.

Shares of NYSE:WCG opened at $259.10 on Thursday. The stock has a market cap of $12.63 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.71 and a beta of 1.02. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. WellCare Health Plans has a 12 month low of $187.06 and a 12 month high of $324.99.

Hedge funds have recently bought and sold shares of the company. Private Capital Group LLC grew its stake in shares of WellCare Health Plans by 234.0% in the third quarter. Private Capital Group LLC now owns 334 shares of the company’s stock valued at $107,000 after buying an additional 234 shares in the last quarter. Financial Gravity Wealth Inc. grew its stake in shares of WellCare Health Plans by 3,977.8% in the third quarter. Financial Gravity Wealth Inc. now owns 367 shares of the company’s stock valued at $107,000 after buying an additional 358 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of WellCare Health Plans by 55.2% in the second quarter. Harvest Fund Management Co. Ltd now owns 512 shares of the company’s stock valued at $126,000 after buying an additional 182 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of WellCare Health Plans by 98.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 561 shares of the company’s stock valued at $108,000 after buying an additional 279 shares in the last quarter. Finally, Cerebellum GP LLC acquired a new stake in shares of WellCare Health Plans in the third quarter valued at about $191,000. Institutional investors and hedge funds own 97.22% of the company’s stock.

About WellCare Health Plans

WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare PDPs. The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs and long-term services and supports for qualifying families who are not eligible for Medicaid.

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Earnings History and Estimates for WellCare Health Plans (NYSE:WCG)

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