Centene Corp’s Neutral Rating Reaffirmed at JPMorgan Chase & Co. (CNC)
Centene Corp (NYSE:CNC)‘s stock had its “neutral” rating reiterated by equities researchers at JPMorgan Chase & Co. in a research report issued on Monday. They currently have a $71.00 price target on the stock, up from their previous price target of $69.00. JPMorgan Chase & Co.’s target price would suggest a potential downside of 4.22% from the stock’s previous close.
Shares of Centene Corp (NYSE:CNC) traded up 0.84% during mid-day trading on Monday, hitting $74.75. 393,928 shares of the company’s stock traded hands. Centene Corp has a 1-year low of $48.89 and a 1-year high of $75.90. The stock has a 50-day moving average of $70.71 and a 200-day moving average of $63.23. The company has a market cap of $4.312 billion and a P/E ratio of 24.27.
Centene Corp (NYSE:CNC) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.13. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 31.9% on a year-over-year basis. On average, analysts predict that Centene Corp will post $3.71 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on CNC. Analysts at Oppenheimer raised their price target on shares of Centene Corp from $78.00 to $81.00 in a research note on Monday. They now have an “outperform” rating on the stock. Separately, analysts at Susquehanna raised their price target on shares of Centene Corp from $80.00 to $85.00 in a research note on Monday. Finally, analysts at Citigroup Inc. downgraded shares of Centene Corp from a “neutral” rating to a “sell” rating in a research note on Tuesday, June 3rd. They now have a $65.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $73.94.
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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