Brokerages Expect Cerner Co. (NASDAQ:CERN) Will Announce Quarterly Sales of $1.47 Billion

Equities research analysts predict that Cerner Co. (NASDAQ:CERNGet Rating) will post $1.47 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Cerner’s earnings, with the lowest sales estimate coming in at $1.44 billion and the highest estimate coming in at $1.50 billion. Cerner posted sales of $1.39 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.8%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Cerner will report full year sales of $6.05 billion for the current year, with estimates ranging from $6.00 billion to $6.08 billion. For the next financial year, analysts anticipate that the company will report sales of $6.34 billion, with estimates ranging from $6.25 billion to $6.42 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Cerner.

Cerner (NASDAQ:CERNGet Rating) last issued its quarterly earnings data on Tuesday, February 22nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.07. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Cerner had a net margin of 9.64% and a return on equity of 21.44%. Cerner’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share.

CERN has been the subject of a number of research analyst reports. Argus lowered shares of Cerner from a “buy” rating to a “hold” rating in a research report on Monday, April 11th. SVB Leerink lowered shares of Cerner from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $88.00 to $95.00 in a research report on Monday, December 20th. Edward Jones lowered shares of Cerner from a “buy” rating to a “hold” rating in a research report on Monday, December 20th. StockNews.com initiated coverage on shares of Cerner in a research report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Royal Bank of Canada lowered shares of Cerner from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $86.00 to $95.00 in a research report on Monday, December 20th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $87.38.

Cerner stock opened at $93.31 on Tuesday. The firm has a market cap of $27.43 billion, a price-to-earnings ratio of 50.44, a P/E/G ratio of 2.36 and a beta of 0.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.51 and a quick ratio of 1.49. Cerner has a fifty-two week low of $69.08 and a fifty-two week high of $93.87. The firm has a fifty day moving average price of $93.09 and a two-hundred day moving average price of $85.22.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 19th. Investors of record on Monday, March 28th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.16%. The ex-dividend date is Friday, March 25th. Cerner’s dividend payout ratio (DPR) is presently 58.38%.

In related news, insider Tracy L. Platt sold 7,769 shares of the stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $93.40, for a total value of $725,624.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. IFM Investors Pty Ltd raised its position in Cerner by 13.6% in the first quarter. IFM Investors Pty Ltd now owns 44,280 shares of the company’s stock worth $4,143,000 after purchasing an additional 5,284 shares in the last quarter. Perkins Coie Trust Co grew its stake in Cerner by 78.0% during the first quarter. Perkins Coie Trust Co now owns 541 shares of the company’s stock worth $51,000 after buying an additional 237 shares during the last quarter. Rosenberg Matthew Hamilton bought a new stake in Cerner during the first quarter worth about $51,000. Gateway Investment Advisers LLC grew its stake in Cerner by 4,798.5% during the first quarter. Gateway Investment Advisers LLC now owns 115,800 shares of the company’s stock worth $10,834,000 after buying an additional 113,436 shares during the last quarter. Finally, Havens Advisors LLC grew its stake in Cerner by 87.1% during the first quarter. Havens Advisors LLC now owns 39,300 shares of the company’s stock worth $3,677,000 after buying an additional 18,300 shares during the last quarter. 83.96% of the stock is owned by hedge funds and other institutional investors.

Cerner Company Profile (Get Rating)

Cerner Corporation, together with its subsidiaries, provides health care information technology solutions and tech-enabled services in the United States and internationally. It 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.

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