Centene Corp (NYSE:CNC) Expected to Post Earnings of $1.23 Per Share

Wall Street brokerages expect Centene Corp (NYSE:CNC) to announce earnings of $1.23 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Centene’s earnings. The highest EPS estimate is $1.37 and the lowest is $1.03. Centene posted earnings per share of $1.39 during the same quarter last year, which would suggest a negative year-over-year growth rate of 11.5%. The firm is expected to issue its next 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 fiscal year, with EPS estimates ranging from $4.75 to $4.96. For the next financial year, analysts anticipate that the firm will report earnings of $5.78 per share, with EPS estimates ranging from $5.61 to $6.05. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Centene.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.73 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.73. The business had revenue of $18.86 billion during the quarter, compared to the consensus estimate of $18.45 billion. Centene had a net margin of 1.77% and a return on equity of 15.18%. Centene’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 earnings per share.

Several research firms have recently weighed in on CNC. Credit Suisse Group upped their price target on shares of Centene from $65.00 to $72.50 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Wells Fargo & Co increased their target price on shares of Centene from $72.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Piper Jaffray Companies reiterated a “buy” rating and issued a $80.00 price target on shares of Centene in a research note on Monday, December 16th. JPMorgan Chase & Co. initiated coverage on shares of Centene in a research note on Wednesday, February 5th. They issued an “overweight” rating and a $88.00 price target for the company. Finally, Goldman Sachs Group initiated coverage on shares of Centene in a research report on Friday, February 7th. They issued a “buy” rating and a $80.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $78.62.

In other news, Director Tommy G. Thompson sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $62.98, for a total value of $31,490.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert K. Ditmore sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were 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. Over the last ninety days, insiders have sold 171,500 shares of company stock worth $10,448,920. 2.50% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of CNC. FMR LLC boosted its stake in shares of Centene by 38.8% in the 4th quarter. FMR LLC now owns 25,495,564 shares of the company’s stock valued at $1,602,906,000 after purchasing an additional 7,128,896 shares in the last quarter. Capital World Investors boosted its stake in shares of Centene by 13.9% in the 4th quarter. Capital World Investors now owns 36,150,812 shares of the company’s stock valued at $2,272,802,000 after purchasing an additional 4,418,509 shares in the last quarter. Lyrical Asset Management LP acquired a new stake in shares of Centene in the 4th quarter valued at approximately $265,482,000. Capital Research Global Investors boosted its stake in shares of Centene by 38.2% in the 4th quarter. Capital Research Global Investors now owns 12,171,718 shares of the company’s stock valued at $765,236,000 after purchasing an additional 3,361,967 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Centene in the 4th quarter valued at approximately $115,464,000. Institutional investors own 97.83% of the company’s stock.

NYSE:CNC traded down $0.24 during trading hours on Friday, hitting $65.49. The stock had a trading volume of 3,098,878 shares, compared to its average volume of 6,098,233. Centene has a one year low of $41.62 and a one year high of $68.64. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.01 and a current ratio of 1.57. The company has a market cap of $27.10 billion, a price-to-earnings ratio of 20.86, a P/E/G ratio of 0.94 and a beta of 0.95. The business’s 50 day moving average is $64.34 and its 200-day moving average is $54.74.

About Centene

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.

See Also: Cost of Goods Sold (COGS)

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Earnings History and Estimates for Centene (NYSE:CNC)

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