Brokerages Anticipate Cerner Co. (NASDAQ:CERN) Will Post Quarterly Sales of $1.40 Billion


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Equities research analysts forecast that Cerner Co. (NASDAQ:CERN) will report $1.40 billion in sales for the current quarter, Zacks reports. Eight analysts have issued estimates for Cerner’s earnings, with the highest sales estimate coming in at $1.42 billion and the lowest estimate coming in at $1.39 billion. Cerner reported sales of $1.41 billion during the same quarter last year, which would suggest a negative year over year growth rate of 0.7%. The firm is scheduled to announce its next earnings report before the market opens on Wednesday, May 5th.

According to Zacks, analysts expect that Cerner will report full year sales of $5.83 billion for the current fiscal year, with estimates ranging from $5.75 billion to $5.86 billion. For the next financial year, analysts expect that the business will post sales of $6.15 billion, with estimates ranging from $5.98 billion to $6.24 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Cerner.

Cerner (NASDAQ:CERN) last posted its quarterly earnings data on Tuesday, February 9th. The company reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Cerner had a return on equity of 18.14% and a net margin of 14.28%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 EPS.

Several analysts have recently issued reports on the company. Bank of America lowered Cerner from a “buy” rating to an “underperform” rating in a report on Tuesday, January 19th. Truist increased their target price on Cerner from $72.00 to $82.00 in a report on Thursday, February 11th. Argus increased their target price on Cerner from $77.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, December 29th. Piper Sandler increased their target price on Cerner from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, February 16th. Finally, Canaccord Genuity increased their target price on Cerner from $81.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, January 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $80.00.

In other news, CFO Mark J. Erceg bought 10,547 shares of the company’s stock in a transaction on Wednesday, March 10th. The stock was purchased at an average cost of $71.13 per share, for a total transaction of $750,208.11. Also, CFO Mark J. Erceg acquired 10,761 shares of the stock in a transaction dated Wednesday, March 3rd. The shares were bought at an average price of $69.66 per share, with a total value of $749,611.26. Insiders acquired 31,963 shares of company stock valued at $2,250,251 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Childress Capital Advisors LLC bought a new position in shares of Cerner during the fourth quarter worth about $27,000. CX Institutional raised its position in shares of Cerner by 79.1% during the fourth quarter. CX Institutional now owns 394 shares of the company’s stock worth $31,000 after acquiring an additional 174 shares during the last quarter. Cowa LLC bought a new position in shares of Cerner during the fourth quarter worth about $32,000. Grant Street Asset Management Inc. bought a new position in shares of Cerner during the fourth quarter worth about $31,000. Finally, Addison Advisors LLC bought a new position in shares of Cerner during the fourth quarter worth about $33,000. Institutional investors own 83.01% of the company’s stock.

CERN stock traded up $0.64 during trading hours on Tuesday, hitting $75.32. 1,747,085 shares of the stock were exchanged, compared to its average volume of 2,420,646. The firm has a market capitalization of $22.77 billion, a P/E ratio of 29.42, a P/E/G ratio of 2.35 and a beta of 0.76. Cerner has a 12 month low of $63.11 and a 12 month high of $84.20. The company has a current ratio of 2.29, a quick ratio of 2.28 and a debt-to-equity ratio of 0.30. The company has a 50-day simple moving average of $72.12 and a two-hundred day simple moving average of $74.64.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 20th. Shareholders of record on Tuesday, April 6th will be given a $0.22 dividend. The ex-dividend date of this dividend is Monday, April 5th. This represents a $0.88 annualized dividend and a yield of 1.17%. Cerner’s dividend payout ratio is presently 36.51%.

Cerner Company Profile

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