Equities research analysts predict that Centene Corporation (NYSE:CNC) will announce sales of $12.26 billion for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Centene Corporation’s earnings. The lowest sales estimate is $11.94 billion and the highest is $12.64 billion. Centene Corporation reported sales of $11.91 billion in the same quarter last year, which would suggest a positive year over year growth rate of 2.9%. The firm is expected to report its next earnings results on Tuesday, February 6th.
On average, analysts expect that Centene Corporation will report full year sales of $12.26 billion for the current fiscal year, with estimates ranging from $47.56 billion to $48.21 billion. For the next year, analysts anticipate that the company will report sales of $51.55 billion per share, with estimates ranging from $51.01 billion to $52.52 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Centene Corporation.
Centene Corporation (NYSE:CNC) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.11. Centene Corporation had a net margin of 1.81% and a return on equity of 14.79%. The firm had revenue of $11.90 billion for the quarter, compared to analyst estimates of $11.75 billion. During the same period in the previous year, the business earned $1.12 EPS. The company’s revenue was up 9.7% compared to the same quarter last year.
Several equities research analysts have issued reports on the stock. Deutsche Bank AG reiterated a “buy” rating and issued a $111.00 price target (up from $95.00) on shares of Centene Corporation in a research note on Thursday, September 14th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $105.00 price target on shares of Centene Corporation in a research note on Tuesday, October 24th. Cantor Fitzgerald reiterated a “buy” rating and issued a $107.00 price target on shares of Centene Corporation in a research note on Tuesday, October 24th. Cowen and Company reiterated a “buy” rating and issued a $115.00 price target on shares of Centene Corporation in a research note on Tuesday, October 24th. Finally, Zacks Investment Research raised shares of Centene Corporation from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Friday, September 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the company’s stock. Centene Corporation has a consensus rating of “Buy” and a consensus price target of $99.11.
In other news, Director Robert K. Ditmore sold 4,167 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $90.42, for a total value of $376,780.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership acquired a new position in shares of Centene Corporation in the 2nd quarter valued at approximately $455,000. Handelsbanken Fonder AB raised its position in shares of Centene Corporation by 29.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 178,000 shares of the company’s stock valued at $17,225,000 after buying an additional 40,000 shares in the last quarter. Artemis Investment Management LLP acquired a new position in shares of Centene Corporation in the 2nd quarter valued at approximately $15,326,000. Schwab Charles Investment Management Inc. raised its position in shares of Centene Corporation by 28.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 788,573 shares of the company’s stock valued at $62,992,000 after buying an additional 176,403 shares in the last quarter. Finally, AJO LP acquired a new position in shares of Centene Corporation in the 2nd quarter valued at approximately $100,314,000. Institutional investors own 93.43% of the company’s stock.
Shares of Centene Corporation (CNC) traded down $1.33 during mid-day trading on Wednesday, reaching $93.03. 857,700 shares of the company’s stock traded hands, compared to its average volume of 1,705,594. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71. Centene Corporation has a 12-month low of $52.00 and a 12-month high of $98.71. The firm has a market cap of $16,283.38, a price-to-earnings ratio of 17.97, a P/E/G ratio of 1.44 and a beta of 0.67.
Centene Corporation 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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