Centene (NYSE:CNC) updated its FY19 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $4.29-4.49 for the period, compared to the Thomson Reuters consensus estimate of $4.42. The company issued revenue guidance of $73.6-75.2 billion, compared to the consensus revenue estimate of $74.18 billion.Centene also updated its FY20 guidance to $4.64 to $4.84 EPS.
Several research firms recently commented on CNC. Piper Jaffray Companies restated a buy rating and set a $80.00 target price on shares of Centene in a research report on Monday, December 16th. Morgan Stanley reduced their target price on Centene from $64.00 to $62.00 and set an overweight rating for the company in a research report on Thursday, September 26th. Credit Suisse Group boosted their target price on Centene from $57.00 to $65.00 and gave the stock a neutral rating in a research report on Wednesday, January 8th. Deutsche Bank reduced their target price on Centene from $62.00 to $60.00 and set a buy rating for the company in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets boosted their target price on Centene from $65.00 to $70.00 and gave the stock an outperform rating in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $71.31.
CNC opened at $64.78 on Thursday. The stock has a 50-day moving average price of $61.55 and a 200-day moving average price of $52.54. Centene has a 12-month low of $41.62 and a 12-month high of $69.25. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $26.14 billion, a P/E ratio of 18.30, a PEG ratio of 0.92 and a beta of 0.91.
Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Centene had a return on equity of 15.54% and a net margin of 1.87%. The firm had revenue of $18.98 billion during the quarter, compared to analysts’ expectations of $18.39 billion. During the same period in the prior year, the business earned $1.79 EPS. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, equities research analysts predict that Centene will post 4.42 EPS for the current year.
In other news, Director Tommy G. Thompson sold 500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.98, for a total value of $31,490.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jesse N. Hunter sold 20,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $60.00, for a total value of $1,200,000.00. The disclosure for this sale can be found here. Insiders sold a total of 285,519 shares of company stock valued at $16,416,060 over the last quarter. Company insiders own 2.50% of the company’s stock.
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. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
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