Zacks: Brokerages Anticipate Centene Co. (NYSE:CNC) Will Post Earnings of $1.50 Per Share

Wall Street brokerages predict that Centene Co. (NYSE:CNCGet Rating) will post earnings of $1.50 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Centene’s earnings, with estimates ranging from $1.42 to $1.75. Centene reported earnings of $1.25 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 20%. The firm is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Centene will report full year earnings of $5.46 per share for the current fiscal year, with EPS estimates ranging from $5.40 to $5.55. For the next fiscal year, analysts expect that the firm will post earnings of $6.28 per share, with EPS estimates ranging from $6.07 to $6.40. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Centene.

Centene (NYSE:CNCGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.15. Centene had a return on equity of 11.82% and a net margin of 1.12%. The company had revenue of $37.19 billion during the quarter, compared to analysts’ expectations of $34.48 billion. During the same quarter in the previous year, the business earned $1.63 EPS. Centene’s revenue was up 24.0% compared to the same quarter last year.

Several equities analysts have issued reports on CNC shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Centene from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, February 9th. Mizuho upped their price target on shares of Centene from $78.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 9th. Barclays started coverage on shares of Centene in a research report on Friday, January 7th. They set an “overweight” rating and a $95.00 price objective on the stock. StockNews.com initiated coverage on Centene in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Finally, Sanford C. Bernstein boosted their target price on Centene from $94.00 to $108.00 in a research report on Tuesday, January 11th. Four equities research 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $91.61.

In other news, EVP Shannon Bagley sold 8,000 shares of the stock in a transaction on Friday, April 29th. The shares were sold at an average price of $80.99, for a total value of $647,920.00. Following the completion of the sale, the executive vice president now owns 128,353 shares of the company’s stock, valued at $10,395,309.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark J. Brooks sold 3,690 shares of the company’s stock in a transaction on Thursday, March 24th. The shares were sold at an average price of $82.71, for a total transaction of $305,199.90. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC acquired a new position in Centene in the fourth quarter worth approximately $26,000. Massmutual Trust Co. FSB ADV raised its position in Centene by 269.3% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 325 shares of the company’s stock valued at $27,000 after buying an additional 237 shares during the period. GHP Investment Advisors Inc. purchased a new stake in Centene in the 1st quarter worth about $27,000. Chilton Capital Management LLC purchased a new position in Centene during the 4th quarter valued at about $28,000. Finally, Hanson & Doremus Investment Management purchased a new stake in shares of Centene in the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Shares of NYSE CNC opened at $84.03 on Friday. The firm has a market cap of $49.15 billion, a PE ratio of 33.35, a PEG ratio of 1.07 and a beta of 0.52. The firm has a fifty day moving average of $84.92 and a 200 day moving average of $80.30. Centene has a one year low of $59.67 and a one year high of $89.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05.

About Centene (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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