Centene (CNC) Set to Announce Earnings on Friday

Centene (NYSE:CNC) will be posting its quarterly earnings results before the market opens on Friday, April 26th. Analysts expect Centene to post earnings of $2.20 per share for the quarter. Centene has set its FY 2024 guidance at 6.700- EPS and its FY24 guidance at $6.70 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Centene had a return on equity of 14.26% and a net margin of 1.75%. The business had revenue of $39.46 billion for the quarter, compared to analysts’ expectations of $36.16 billion. During the same period in the previous year, the firm earned $0.86 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. On average, analysts expect Centene to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Centene Price Performance

CNC opened at $73.75 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.11 and a current ratio of 1.11. Centene has a 52-week low of $60.83 and a 52-week high of $81.42. The stock has a market capitalization of $39.45 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.90 and a beta of 0.38. The stock’s 50 day moving average price is $76.60 and its 200-day moving average price is $74.53.

Insiders Place Their Bets

In other Centene news, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the sale, the director now directly owns 11,455 shares of the company’s stock, valued at $886,731.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Kenneth J. Fasola sold 12,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total transaction of $900,840.00. Following the transaction, the president now directly owns 235,365 shares of the company’s stock, valued at $17,668,850.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lori Jean Robinson sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the transaction, the director now directly owns 11,455 shares in the company, valued at $886,731.55. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Centene

Hedge funds have recently bought and sold shares of the company. Gladius Capital Management LP increased its position in Centene by 8.5% during the third quarter. Gladius Capital Management LP now owns 8,471 shares of the company’s stock valued at $583,000 after acquiring an additional 663 shares during the last quarter. Brighton Jones LLC purchased a new stake in Centene in the first quarter worth about $203,000. Zions Bancorporation N.A. increased its position in Centene by 199.9% in the first quarter. Zions Bancorporation N.A. now owns 2,030 shares of the company’s stock worth $171,000 after buying an additional 1,353 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Centene by 25.3% in the second quarter. Parkside Financial Bank & Trust now owns 2,394 shares of the company’s stock worth $161,000 after buying an additional 484 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Centene during the first quarter worth about $130,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CNC. Barclays began coverage on Centene in a research note on Wednesday, March 6th. They set an “overweight” rating and a $101.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of Centene in a research note on Thursday, April 4th. UBS Group boosted their target price on Centene from $72.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, December 21st. StockNews.com lowered Centene from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 28th. Finally, Truist Financial lifted their price target on Centene from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, December 21st. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Centene presently has an average rating of “Moderate Buy” and an average target price of $85.38.

About Centene

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.