Centene Corp Given New $78.00 Price Target at JPMorgan Chase & Co. (CNC)
Equities researchers at JPMorgan Chase & Co. hoisted their price target on shares of Centene Corp (NYSE:CNC) from $71.00 to $78.00 in a research report issued on Tuesday. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 3.26% from the stock’s previous close.
A number of other firms have also recently commented on CNC. Analysts at Wells Fargo & Co. downgraded shares of Centene Corp from an “outperform” rating to a “market perform” rating in a research note on Friday. Separately, analysts at Barclays raised their price target on shares of Centene Corp from $84.00 to $96.00 in a research note on Wednesday, July 23rd. They now have an “overweight” rating on the stock. Finally, analysts at Citigroup Inc. reiterated an “outperform” rating on shares of Centene Corp in a research note on Wednesday, July 23rd. They now have a $90.00 price target on the stock, up previously from $83.00. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $83.39.
Shares of Centene Corp (NYSE:CNC) traded down 1.32% during mid-day trading on Tuesday, hitting $74.54. The stock had a trading volume of 153,457 shares. Centene Corp has a 52 week low of $54.12 and a 52 week high of $81.98. The stock has a 50-day moving average of $76. and a 200-day moving average of $67.30. The company has a market cap of $4.367 billion and a P/E ratio of 23.88.
Centene Corp (NYSE:CNC) last announced its earnings results on Tuesday, July 22nd. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.09. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up 48.5% on a year-over-year basis. On average, analysts predict that Centene Corp will post $3.83 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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