Centene Corp. Price Target Raised to $63.00 at Deutsche Bank (CNC)
Deutsche Bank lifted their price objective on shares of Centene Corp. (NYSE:CNC) from $55.00 to $63.00 in a research note issued on Tuesday, Analyst Ratings Net reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s target price would suggest a potential downside of 2.79% from the company’s current price.
Centene Corp. (NYSE:CNC) traded down 1.18% during mid-day trading on Tuesday, hitting $64.045. 64,554 shares of the company’s stock traded hands. Centene Corp. has a 52-week low of $34.73 and a 52-week high of $66.61. The stock’s 50-day moving average is $60.34 and its 200-day moving average is $53.1. The company has a market cap of $3.499 billion and a price-to-earnings ratio of 48.19.
Centene Corp. (NYSE:CNC) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.77 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.16) earnings per share. Centene Corp.’s revenue was up 29.1% compared to the same quarter last year. On average, analysts predict that Centene Corp. will post $2.80 earnings per share for the current fiscal year.
CNC has been the subject of a number of other recent research reports. Analysts at Jefferies Group reiterated a “hold” rating on shares of Centene Corp. in a research note to investors on Tuesday, September 24th. They now have a $63.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Centene Corp. from $50.00 to $60.00 in a research note to investors on Tuesday, September 24th. They now have a “neutral” rating on the stock. Finally, analysts at Wedbush reiterated a “buy” rating on shares of Centene Corp. in a research note to investors on Monday, September 16th. They now have a $67.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Centene Corp. presently has a consensus rating of “Buy” and a consensus target price of $61.53.
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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