Centene Corp. PT Raised to $71.00 (CNC)
Deutsche Bank lifted their price objective on shares of Centene Corp. (NYSE:CNC) from $63.00 to $71.00 in a research note issued on Wednesday, Analyst Ratings News reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s price target indicates a potential upside of 8.53% from the company’s current price.
Shares of Centene Corp. (NYSE:CNC) traded up 1.25% during mid-day trading on Wednesday, hitting $66.24. The stock had a trading volume of 231,742 shares. Centene Corp. has a 52 week low of $35.07 and a 52 week high of $66.61. The stock’s 50-day moving average is $61.76 and its 200-day moving average is $53.99. The company has a market cap of $3.619 billion and a price-to-earnings ratio of 48.64.
Centene Corp. (NYSE:CNC) last announced its earnings results 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. On average, analysts predict that Centene Corp. will post $2.80 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on CNC. Analysts at Zacks upgraded shares of Centene Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, October 10th. They now have a $66.90 price target on the stock. Separately, analysts at Susquehanna reiterated a “neutral” rating on shares of Centene Corp. in a research note to investors on Wednesday, October 9th. They now have a $60.00 price target on the stock, up previously from $55.00. Finally, analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of Centene Corp. in a research note to investors on Tuesday, October 8th. They now have a $60.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Centene Corp. currently has an average rating of “Buy” and an average price target of $62.68.
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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