Centene Corporation (CNC) to Release Earnings on Tuesday
Centene Corporation (NYSE:CNC) will post its quarterly earnings results before the market opens on Tuesday, October 24th. Analysts expect Centene Corporation to post earnings of $1.24 per share for the quarter. Centene Corporation has set its FY17 guidance at $4.70-5.06 EPS.
Centene Corporation (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.29. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The business had revenue of $11.95 billion for the quarter, compared to analyst estimates of $11.69 billion. During the same period in the prior year, the business posted $1.29 earnings per share. Centene Corporation’s revenue was up 9.7% compared to the same quarter last year. On average, analysts expect Centene Corporation to post $4.92 EPS for the current fiscal year and $5.43 EPS for the next fiscal year.
Centene Corporation (NYSE:CNC) opened at 90.92 on Tuesday. Centene Corporation has a one year low of $50.00 and a one year high of $98.71. The company has a 50-day moving average of $92.66 and a 200 day moving average of $81.76. The firm has a market capitalization of $15.68 billion, a price-to-earnings ratio of 19.95 and a beta of 0.68.
In related news, EVP Christopher D. Bowers sold 4,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $79.43, for a total transaction of $317,720.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert K. Ditmore sold 4,167 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $82.59, for a total transaction of $344,152.53. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
CNC has been the topic of a number of research reports. Jefferies Group LLC reissued a “buy” rating and set a $94.00 target price on shares of Centene Corporation in a report on Friday, July 14th. Deutsche Bank AG restated a “buy” rating and issued a $111.00 price target (up previously from $95.00) on shares of Centene Corporation in a research report on Thursday, September 14th. Zacks Investment Research downgraded shares of Centene Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BidaskClub upgraded shares of Centene Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 24th. Finally, Citigroup Inc. boosted their price target on shares of Centene Corporation from $80.00 to $89.00 and gave the stock a “sell” rating in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $94.22.
About Centene Corporation
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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