Centene Corp. PT Raised to $60.00 (CNC)
Research analysts at JPMorgan Chase & Co. upped their target price on shares of Centene Corp. (NYSE:CNC) from $50.00 to $60.00 in a report released on Tuesday, AnalystRatingsNetwork.com reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price target would indicate a potential downside of 7.35% from the stock’s previous close.
Centene Corp. (NYSE:CNC) traded up 5.83% during mid-day trading on Tuesday, hitting $64.76. The stock had a trading volume of 1,149,161 shares. Centene Corp. has a 52-week low of $34.73 and a 52-week high of $64.96. The stock has a 50-day moving average of $58.3 and a 200-day moving average of $51.93. The company has a market cap of $3.538 billion and a price-to-earnings ratio of 45.49.
Centene Corp. (NYSE:CNC) last released its earnings data on Tuesday, July 23rd. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.62 by $0.15. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the company posted ($0.16) earnings per share. The company’s quarterly revenue was up 29.1% on a year-over-year basis. Analysts expect that Centene Corp. will post $2.80 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on CNC. Analysts at Wedbush reiterated a “buy” rating on shares of Centene Corp. (NYSE:CNC) in a research note to investors on Monday, September 16th. They now have a $67.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Centene Corp. (NYSE:CNC) to $63.00 in a research note to investors on Monday, September 16th. They now have a “hold” rating on the stock. Finally, analysts at Barclays Capital reiterated a “buy” rating on shares of Centene Corp. (NYSE:CNC) in a research note to investors on Wednesday, August 21st. They now have a $68.00 price target on the stock.
Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Centene Corp. currently has an average rating of “Buy” and an average target price of $60.80.
Centene Corporation is a multi-line healthcare enterprise, which provides programs and services to the number of under-insured and uninsured individuals.
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