Centene (NYSE:CNC) Updates FY22 Earnings Guidance

Centene (NYSE:CNCGet Rating) updated its FY22 earnings guidance on Tuesday. The company provided earnings per share guidance of $5.40-5.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.41. The company issued revenue guidance of $139.9-141.9 billion, compared to the consensus revenue estimate of $137.01 billion.Centene also updated its FY 2022 guidance to $5.400-$5.550 EPS.

A number of brokerages recently issued reports on CNC. Barclays began coverage on shares of Centene in a report on Friday, January 7th. They set an overweight rating and a $95.00 price target on the stock. StockNews.com began coverage on shares of Centene in a report on Thursday, March 31st. They set a strong-buy rating on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Centene from $84.00 to $88.00 and gave the stock a buy rating in a report on Wednesday, February 9th. Sanford C. Bernstein increased their price objective on shares of Centene from $94.00 to $108.00 in a report on Tuesday, January 11th. Finally, Mizuho increased their price objective on shares of Centene from $78.00 to $84.00 and gave the company a neutral rating in a report on Wednesday, February 9th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $91.61.

Centene stock opened at $84.86 on Tuesday. Centene has a 12-month low of $59.33 and a 12-month high of $89.92. The stock has a market cap of $49.46 billion, a P/E ratio of 37.38, a PEG ratio of 1.27 and a beta of 0.52. The company has a 50-day moving average price of $85.02 and a 200 day moving average price of $79.39. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.69.

Centene (NYSE:CNCGet Rating) last released its quarterly earnings data on Tuesday, February 8th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.03. Centene had a net margin of 1.07% and a return on equity of 11.47%. The firm had revenue of $32.57 billion during the quarter, compared to analysts’ expectations of $32.52 billion. During the same period last year, the business earned $0.46 earnings per share. Centene’s revenue was up 15.1% compared to the same quarter last year. As a group, analysts forecast that Centene will post 5.42 EPS for the current year.

In related news, EVP Mark J. Brooks sold 3,690 shares of the firm’s stock in a transaction dated Thursday, March 24th. The shares were sold at an average price of $82.71, for a total transaction of $305,199.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vident Investment Advisory LLC increased its position in shares of Centene by 15.7% during the fourth quarter. Vident Investment Advisory LLC now owns 11,530 shares of the company’s stock valued at $950,000 after acquiring an additional 1,564 shares during the last quarter. SkyView Investment Advisors LLC acquired a new stake in shares of Centene during the fourth quarter valued at about $196,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Centene during the fourth quarter valued at about $26,000. NewEdge Advisors LLC boosted its stake in shares of Centene by 288.6% in the fourth quarter. NewEdge Advisors LLC now owns 14,135 shares of the company’s stock valued at $1,165,000 after purchasing an additional 10,498 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Centene in the fourth quarter valued at approximately $515,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

Centene Company Profile (Get Rating)

Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its 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 cover dually eligible individuals, as well as aged, blind, or disabled programs.

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Earnings History and Estimates for Centene (NYSE:CNC)

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