Zacks: Brokerages Expect Cerner Co. (NASDAQ:CERN) Will Announce Earnings of $0.66 Per Share

Wall Street analysts expect Cerner Co. (NASDAQ:CERN) to report earnings per share of $0.66 for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for Cerner’s earnings. The highest EPS estimate is $0.70 and the lowest is $0.63. Cerner posted earnings of $0.63 per share in the same quarter last year, which would suggest a positive year over year growth rate of 4.8%. The business is scheduled to announce its next earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Cerner will report full year earnings of $2.68 per share for the current fiscal year, with EPS estimates ranging from $2.64 to $2.73. For the next fiscal year, analysts anticipate that the company will post earnings of $3.19 per share, with EPS estimates ranging from $3.04 to $3.33. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Cerner.

Cerner (NASDAQ:CERN) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.44 billion. Cerner had a return on equity of 15.14% and a net margin of 10.75%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 EPS.

A number of brokerages have issued reports on CERN. Deutsche Bank initiated coverage on Cerner in a report on Thursday, September 26th. They issued a “buy” rating and a $82.00 target price for the company. Piper Jaffray Companies increased their price target on Cerner from $74.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. BidaskClub raised Cerner from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 25th. Citigroup increased their price objective on Cerner from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $82.00 price target (up from $76.00) on shares of Cerner in a research report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $75.19.

In other Cerner news, EVP John Peterzalek sold 27,484 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $72.11, for a total transaction of $1,981,871.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeffrey A. Townsend sold 199,432 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $66.46, for a total transaction of $13,254,250.72. Following the transaction, the vice president now directly owns 59,432 shares of the company’s stock, valued at approximately $3,949,850.72. The disclosure for this sale can be found here. Insiders sold a total of 344,268 shares of company stock valued at $23,243,010 over the last 90 days. 0.75% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the stock. Smith Asset Management Group LP purchased a new stake in Cerner in the 2nd quarter worth about $18,104,000. Janus Henderson Group PLC lifted its stake in shares of Cerner by 0.8% during the second quarter. Janus Henderson Group PLC now owns 367,043 shares of the company’s stock worth $26,900,000 after buying an additional 2,859 shares during the period. Hartford Investment Management Co. lifted its stake in shares of Cerner by 0.3% during the second quarter. Hartford Investment Management Co. now owns 104,219 shares of the company’s stock worth $7,639,000 after buying an additional 313 shares during the period. FinTrust Capital Advisors LLC lifted its stake in shares of Cerner by 6,480.6% during the second quarter. FinTrust Capital Advisors LLC now owns 8,160 shares of the company’s stock worth $598,000 after buying an additional 8,036 shares during the period. Finally, Advisory Services Network LLC lifted its stake in shares of Cerner by 12.9% during the first quarter. Advisory Services Network LLC now owns 4,504 shares of the company’s stock worth $258,000 after buying an additional 514 shares during the period. 82.66% of the stock is owned by hedge funds and other institutional investors.

Shares of Cerner stock traded up $0.62 during trading on Wednesday, reaching $65.72. 630,625 shares of the company’s stock were exchanged, compared to its average volume of 2,342,364. Cerner has a 1-year low of $48.78 and a 1-year high of $76.47. The firm’s 50-day moving average price is $68.10 and its 200 day moving average price is $68.44. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.50 and a current ratio of 2.52. The company has a market cap of $20.73 billion, a P/E ratio of 29.74, a PEG ratio of 2.08 and a beta of 0.93.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 25th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $0.72 annualized dividend and a dividend yield of 1.10%. Cerner’s dividend payout ratio (DPR) is 32.58%.

Cerner Company Profile

Cerner Corporation 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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Earnings History and Estimates for Cerner (NASDAQ:CERN)

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