Equities research analysts predict that Cerner Co. (NASDAQ:CERN) will post $0.74 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Cerner’s earnings, with the highest EPS estimate coming in at $0.75 and the lowest estimate coming in at $0.72. Cerner reported earnings per share of $0.71 in the same quarter last year, which indicates a positive year over year growth rate of 4.2%. The company is expected to issue its next earnings report before the market opens on Wednesday, May 5th.
On average, analysts expect that Cerner will report full-year earnings of $3.15 per share for the current financial year, with EPS estimates ranging from $3.13 to $3.18. For the next financial year, analysts anticipate that the firm will post earnings of $3.57 per share, with EPS estimates ranging from $3.51 to $3.67. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Cerner.
Cerner (NASDAQ:CERN) last posted its quarterly earnings data on Tuesday, February 9th. The company reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Cerner had a return on equity of 18.14% and a net margin of 14.28%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 EPS.
Several analysts have recently issued reports on the company. Piper Sandler increased their target price on Cerner from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, February 16th. UBS Group lowered Cerner from a “buy” rating to a “neutral” rating and set a $82.00 target price on the stock. in a report on Thursday, February 11th. Canaccord Genuity increased their target price on Cerner from $81.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, January 7th. Truist increased their target price on Cerner from $72.00 to $82.00 in a report on Thursday, February 11th. Finally, KeyCorp increased their target price on Cerner from $82.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. Cerner currently has an average rating of “Buy” and a consensus price target of $81.50.
CERN stock traded down $0.51 during trading hours on Tuesday, hitting $75.48. 2,819,969 shares of the stock were exchanged, compared to its average volume of 2,364,187. The company has a current ratio of 2.29, a quick ratio of 2.28 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $22.81 billion, a P/E ratio of 29.45, a P/E/G ratio of 2.35 and a beta of 0.76. The company has a 50-day simple moving average of $73.47 and a two-hundred day simple moving average of $74.84. Cerner has a 12 month low of $63.11 and a 12 month high of $84.20.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 20th. Stockholders of record on Tuesday, April 6th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Monday, April 5th. Cerner’s payout ratio is 36.51%.
In other news, CFO Mark J. Erceg purchased 10,761 shares of the business’s stock in a transaction dated Wednesday, March 3rd. The shares were purchased at an average cost of $69.66 per share, with a total value of $749,611.26. Also, CFO Mark J. Erceg purchased 10,547 shares of the business’s stock in a transaction dated Wednesday, March 10th. The shares were purchased at an average cost of $71.13 per share, for a total transaction of $750,208.11. Insiders have bought 31,963 shares of company stock worth $2,250,251 over the last three months. Insiders own 0.33% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CERN. Norges Bank bought a new position in shares of Cerner during the fourth quarter worth about $265,305,000. Veritas Investment Partners UK Ltd. bought a new position in shares of Cerner during the fourth quarter worth about $141,898,000. Morgan Stanley raised its position in shares of Cerner by 36.3% during the fourth quarter. Morgan Stanley now owns 3,979,001 shares of the company’s stock worth $312,272,000 after acquiring an additional 1,059,637 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Cerner by 104.7% during the fourth quarter. Nordea Investment Management AB now owns 1,430,271 shares of the company’s stock worth $112,248,000 after acquiring an additional 731,586 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Cerner by 4.5% during the fourth quarter. Bank of New York Mellon Corp now owns 15,644,437 shares of the company’s stock worth $1,227,776,000 after acquiring an additional 667,202 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.
Cerner Corporation, together with its subsidiaries, provides health care information technology solutions and tech-enabled services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.
Recommended Story: What Factors Can Affect Return on Equity?
Get a free copy of the Zacks research report on Cerner (CERN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cerner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerner and related companies with MarketBeat.com's FREE daily email newsletter.