Centene (CNC) Set to Announce Earnings on Friday

Centene (NYSE:CNC) is set to post its quarterly earnings results before the market opens on Friday, April 26th. Analysts expect Centene to post earnings of $2.20 per share for the quarter. Centene has set its FY 2024 guidance at 6.700- EPS and its FY24 guidance at $6.70 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Centene had a return on equity of 14.26% and a net margin of 1.75%. The business had revenue of $39.46 billion for the quarter, compared to the consensus estimate of $36.16 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. On average, analysts expect Centene to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Centene Price Performance

CNC opened at $76.19 on Thursday. Centene has a 12-month low of $60.83 and a 12-month high of $81.42. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.68. The business’s fifty day simple moving average is $76.47 and its 200-day simple moving average is $74.75. The company has a market capitalization of $40.75 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 0.94 and a beta of 0.38.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CNC shares. Barclays started coverage on Centene in a research note on Wednesday, March 6th. They set an “overweight” rating and a $101.00 price objective for the company. Stephens restated an “equal weight” rating and set a $85.00 price objective (down from $92.00) on shares of Centene in a research note on Thursday, March 21st. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of Centene in a research note on Thursday, April 4th. Finally, Wells Fargo & Company increased their price target on Centene from $89.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Centene has an average rating of “Moderate Buy” and an average price target of $85.38.

Insider Buying and Selling

In related news, Director Lori Jean Robinson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total transaction of $774,100.00. Following the sale, the director now directly owns 11,455 shares of the company’s stock, valued at $886,731.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Centene news, President Kenneth J. Fasola sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total value of $900,840.00. Following the sale, the president now directly owns 235,365 shares of the company’s stock, valued at $17,668,850.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lori Jean Robinson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the sale, the director now directly owns 11,455 shares in the company, valued at $886,731.55. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.