Centene Corp. Downgraded to Sell at Citigroup Inc. (CNC)
Centene Corp. (NYSE:CNC) was downgraded by equities researchers at Citigroup Inc. from a “neutral” rating to a “sell” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on CNC. Analysts at Deutsche Bank raised their price target on shares of Centene Corp. from $63.00 to $71.00 in a research note to investors on Wednesday, October 16th. They now have a “hold” rating on the stock. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. Centene Corp. currently has an average rating of “Hold” and a consensus target price of $63.99.
Centene Corp. (NYSE:CNC) traded down 3.85% on Wednesday, hitting $63.38. The stock had a trading volume of 868,674 shares. Centene Corp. has a one year low of $34.73 and a one year high of $61.16. The stock’s 50-day moving average is $57.46 and its 200-day moving average is $51.08. The company has a market cap of $3.463 billion and a P/E ratio of 49.01.
Centene Corp. (NYSE:CNC) last released its earnings data on Tuesday, October 22nd. The company reported $0.87 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.84 by $0.03. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 14.5% 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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