Centene Corp. Rating Reiterated by Susquehanna (CNC)
Centene Corp. (NYSE:CNC)‘s stock had its “neutral” rating restated by investment analysts at Susquehanna in a note issued to investors on Wednesday, American Banking News.com reports. They currently have a $60.00 price target on the stock, up from their previous price target of $55.00. Susquehanna’s price target suggests a potential downside of 6.53% from the stock’s previous close.
The analysts wrote, “We expect the managed care group will post solid third quarter results beginning when UNH kicks of earnings on October 17. The earnings period will matter for the group as Humana will offer specific EPS guidance for 2014 and others, particularly UNH, are likely to offer at least some preliminary expectations for next year.”
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of Centene Corp. in a research note to investors on Tuesday. They now have a $60.00 price target on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Centene Corp. from $55.00 to $63.00 in a research note to investors on Tuesday. They now have a “hold” rating on the stock. Finally, 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. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Centene Corp. has a consensus rating of “Buy” and a consensus target price of $61.87.
Shares of Centene Corp. (NYSE:CNC) traded down 0.50% on Wednesday, hitting $63.87. The stock had a trading volume of 10,100 shares. Centene Corp. has a 52-week low of $34.73 and a 52-week high of $66.61. The stock has a 50-day moving average of $60.56 and a 200-day moving average of $53.29. The company has a market cap of $3.489 billion and a price-to-earnings ratio of 47.72.
Centene Corp. (NYSE:CNC) last released its earnings data on Tuesday, July 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted ($0.16) earnings per share. The company’s revenue for the quarter was up 29.1% on a year-over-year basis. On average, analysts predict that Centene Corp. will post $2.80 earnings per share for the current fiscal year.
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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