Zacks: Brokerages Expect Centene Corp (NYSE:CNC) Will Announce Earnings of $1.24 Per Share

Share on StockTwits

Analysts expect Centene Corp (NYSE:CNC) to announce earnings per share (EPS) of $1.24 for the current quarter, Zacks reports. Five analysts have issued estimates for Centene’s earnings, with the lowest EPS estimate coming in at $1.03 and the highest estimate coming in at $1.37. Centene reported earnings of $1.39 per share during the same quarter last year, which suggests a negative year over year growth rate of 10.8%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, April 28th.

On average, analysts expect that Centene will report full-year earnings of $4.81 per share for the current financial year, with EPS estimates ranging from $4.75 to $4.96. For the next fiscal year, analysts anticipate that the business will post earnings of $5.79 per share, with EPS estimates ranging from $5.61 to $6.05. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Centene.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.73 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.73. Centene had a net margin of 1.77% and a return on equity of 15.18%. The business had revenue of $18.86 billion for the quarter, compared to analyst estimates of $18.45 billion. During the same quarter last year, the business earned $0.69 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis.

A number of research analysts recently commented on the stock. Oppenheimer assumed coverage on shares of Centene in a research note on Tuesday, February 4th. They set a “buy” rating and a $83.00 price objective on the stock. SunTrust Banks reiterated a “buy” rating and set a price objective (up previously from ) on shares of Centene in a research note on Friday, January 24th. Piper Jaffray Companies reiterated a “buy” rating and set a $80.00 price objective on shares of Centene in a research note on Monday, December 16th. Zacks Investment Research lowered shares of Centene from a “hold” rating to a “sell” rating and set a $50.00 price objective on the stock. in a research note on Friday, October 18th. Finally, Goldman Sachs Group assumed coverage on shares of Centene in a research note on Friday, February 7th. They set a “buy” rating and a $80.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $77.21.

NYSE CNC opened at $64.94 on Friday. Centene has a 12 month low of $41.62 and a 12 month high of $68.64. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.57 and a quick ratio of 1.01. The firm has a market capitalization of $26.87 billion, a PE ratio of 20.68, a P/E/G ratio of 0.99 and a beta of 0.95. The company’s 50 day simple moving average is $64.01 and its 200 day simple moving average is $54.29.

In other Centene news, EVP Jesse N. Hunter sold 20,000 shares of Centene stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $60.00, for a total value of $1,200,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert K. Ditmore sold 30,000 shares of Centene stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $65.31, for a total transaction of $1,959,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,500 shares of company stock worth $11,648,920. 2.50% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors grew its position in Centene by 5,219.4% during the 4th quarter. Captrust Financial Advisors now owns 10,426 shares of the company’s stock worth $645,000 after purchasing an additional 10,230 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new position in Centene during the 4th quarter worth approximately $67,000. Castleark Management LLC acquired a new stake in shares of Centene during the 4th quarter valued at $421,000. Partner Investment Management L.P. acquired a new stake in shares of Centene during the 4th quarter valued at $430,000. Finally, Partner Fund Management L.P. acquired a new stake in shares of Centene during the 4th quarter valued at $51,505,000. Hedge funds and other institutional investors own 97.59% of the company’s stock.

Centene Company Profile

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

Further Reading: What is FinTech?

Get a free copy of the Zacks research report on Centene (CNC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Centene (NYSE:CNC)

Receive News & Ratings for Centene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centene and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2020 BBNS.