Zacks: Analysts Anticipate Centene Corp (CNC) to Announce $1.93 Earnings Per Share

Wall Street analysts forecast that Centene Corp (NYSE:CNC) will report earnings of $1.93 per share for the current quarter, according to Zacks. Six analysts have issued estimates for Centene’s earnings, with the highest EPS estimate coming in at $2.03 and the lowest estimate coming in at $1.55. Centene posted earnings of $1.12 per share in the same quarter last year, which would suggest a positive year over year growth rate of 72.3%. The firm is scheduled to issue its next earnings report before the market opens on Tuesday, April 24th.

According to Zacks, analysts expect that Centene will report full year earnings of $7.09 per share for the current year, with EPS estimates ranging from $5.85 to $7.28. For the next financial year, analysts expect that the firm will post earnings of $8.17 per share, with EPS estimates ranging from $7.80 to $8.50. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Centene.

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Centene (NYSE:CNC) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $12.81 billion for the quarter, compared to analyst estimates of $12.25 billion. Centene had a net margin of 1.71% and a return on equity of 13.68%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.19 EPS.

A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and set a $115.00 target price on shares of Centene in a research note on Monday, December 18th. Jefferies Group lifted their target price on shares of Centene from $112.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Oppenheimer lifted their target price on shares of Centene from $111.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. ValuEngine raised shares of Centene from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Zacks Investment Research lowered shares of Centene from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 22nd. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $110.28.

In other Centene news, EVP Christopher D. Bowers sold 4,800 shares of Centene stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $102.27, for a total value of $490,896.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Keith H. Williamson sold 5,000 shares of Centene stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $100.11, for a total transaction of $500,550.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,300 shares of company stock valued at $2,815,209. 3.00% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of CNC. Focused Wealth Management Inc raised its holdings in shares of Centene by 900.0% during the fourth quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock valued at $101,000 after purchasing an additional 900 shares during the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of Centene during the fourth quarter valued at approximately $112,000. We Are One Seven LLC purchased a new position in shares of Centene during the fourth quarter valued at approximately $114,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Centene during the fourth quarter valued at approximately $131,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Centene during the fourth quarter valued at approximately $145,000. 90.54% of the stock is owned by institutional investors and hedge funds.

Centene stock traded down $0.39 during trading hours on Wednesday, reaching $106.48. The stock had a trading volume of 894,942 shares, compared to its average volume of 1,390,036. The firm has a market cap of $18,731.38, a PE ratio of 20.88, a price-to-earnings-growth ratio of 1.02 and a beta of 0.75. Centene has a 52 week low of $69.20 and a 52 week high of $112.42. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.68.

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About Centene

Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.

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