Wall Street brokerages forecast that Centene Corporation (NYSE:CNC) will post earnings per share (EPS) of $1.88 for the current quarter, according to Zacks. Six analysts have provided estimates for Centene’s earnings. The lowest EPS estimate is $1.55 and the highest is $2.14. Centene posted earnings of $1.12 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 67.9%. The firm is expected to issue its next quarterly earnings results on Tuesday, April 24th.
On average, analysts expect that Centene will report full-year earnings of $7.07 per share for the current year, with EPS estimates ranging from $5.85 to $7.30. For the next financial year, analysts expect that the business will post earnings of $8.13 per share, with EPS estimates ranging from $7.80 to $8.50. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Centene.
Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $12.81 billion for the quarter, compared to the consensus estimate of $12.25 billion. Centene had a net margin of 1.71% and a return on equity of 13.68%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.19 earnings per share.
Several equities analysts recently issued reports on the stock. Leerink Swann reissued a “market perform” rating and set a $90.00 price objective (down previously from $100.00) on shares of Centene in a research note on Tuesday, February 13th. Credit Suisse Group upped their price objective on shares of Centene from $110.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Cantor Fitzgerald upped their price objective on shares of Centene from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Morgan Stanley upped their price objective on shares of Centene from $118.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Finally, Citigroup reaffirmed an “outperform” rating and set a $130.00 price target (up previously from $122.00) on shares of Centene in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Centene presently has an average rating of “Buy” and a consensus target price of $110.28.
In other news, Director Robert K. Ditmore sold 8,750 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $104.13, for a total value of $911,137.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jesse N. Hunter sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $98.73, for a total transaction of $987,300.00. The disclosure for this sale can be found here. In the last three months, insiders sold 32,500 shares of company stock worth $3,311,613. Insiders own 3.00% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Elk Creek Partners LLC raised its stake in shares of Centene by 11.5% in the 3rd quarter. Elk Creek Partners LLC now owns 5,264 shares of the company’s stock valued at $509,000 after acquiring an additional 542 shares during the period. Mutual of America Capital Management LLC raised its stake in shares of Centene by 1.6% in the 3rd quarter. Mutual of America Capital Management LLC now owns 34,834 shares of the company’s stock valued at $3,371,000 after acquiring an additional 562 shares during the period. Savant Capital LLC raised its stake in shares of Centene by 19.7% in the 3rd quarter. Savant Capital LLC now owns 3,580 shares of the company’s stock valued at $346,000 after acquiring an additional 590 shares during the period. New Mexico Educational Retirement Board raised its stake in shares of Centene by 3.8% in the 4th quarter. New Mexico Educational Retirement Board now owns 16,600 shares of the company’s stock valued at $1,675,000 after acquiring an additional 600 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Centene by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 16,475 shares of the company’s stock valued at $1,594,000 after acquiring an additional 630 shares during the period. 93.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Centene (NYSE:CNC) traded down $0.31 on Thursday, hitting $102.37. 770,806 shares of the company traded hands, compared to its average volume of 1,490,000. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $17,670.00, a P/E ratio of 25.72, a price-to-earnings-growth ratio of 0.97 and a beta of 0.71. Centene has a fifty-two week low of $65.03 and a fifty-two week high of $112.42.
TRADEMARK VIOLATION NOTICE: “Zacks: Brokerages Expect Centene Corporation (CNC) to Post $1.88 EPS” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://ledgergazette.com/2018/03/14/zacks-brokerages-expect-centene-corporation-cnc-to-post-1-88-eps.html.
Centene Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Centene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centene and related companies with MarketBeat.com's FREE daily email newsletter.