Centene (CNC) Updates FY17 Earnings Guidance
Centene (NYSE:CNC) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of $4.86-5.04 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.98. The company issued revenue guidance of $47-48.2 billion, compared to the consensus revenue estimate of $47.76 billion.Centene also updated its FY18 guidance to $5.47-5.87 EPS.
Several brokerages recently issued reports on CNC. Oppenheimer reissued a buy rating and set a $111.00 target price on shares of Centene in a research note on Friday. Deutsche Bank reissued a buy rating and set a $111.00 target price (up previously from $95.00) on shares of Centene in a research note on Thursday, September 14th. Cantor Fitzgerald reissued a buy rating and set a $107.00 target price on shares of Centene in a research note on Tuesday, October 24th. Cowen reissued a buy rating and set a $115.00 target price on shares of Centene in a research note on Tuesday, October 24th. Finally, Zacks Investment Research raised Centene from a hold rating to a buy rating and set a $107.00 target price on the stock in a research note on Friday, September 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company. Centene currently has an average rating of Buy and a consensus price target of $99.11.
Centene (NYSE CNC) opened at $94.86 on Friday. The firm has a market capitalization of $17,087.53, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 1.51 and a beta of 0.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 0.99. Centene has a 1-year low of $54.40 and a 1-year high of $103.15.
In other Centene news, Director Robert K. Ditmore sold 4,167 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $90.42, for a total transaction of $376,780.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.00% of the company’s stock.
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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.
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