Centene Corp Downgraded by Zacks to Neutral (CNC)
Centene Corp (NYSE:CNC) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued to investors on Monday. They currently have a $84.00 price target on the stock. Zacks‘s target price would indicate a potential upside of 11.24% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cantor Fitzgerald raised their price target on shares of Centene Corp from $80.00 to $85.00 in a research note on Thursday, July 31st. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Centene Corp from $71.00 to $78.00 in a research note on Tuesday, July 29th. They now have a “neutral” rating on the stock. Finally, 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, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Centene Corp presently has a consensus rating of “Buy” and a consensus price target of $83.89.
Shares of Centene Corp (NYSE:CNC) traded up 0.07% on Monday, hitting $75.56. The stock had a trading volume of 174,916 shares. Centene Corp has a 1-year low of $54.12 and a 1-year high of $81.98. The stock’s 50-day moving average is $75.29 and its 200-day moving average is $68.86. The company has a market cap of $4.427 billion and a P/E ratio of 23.87.
Centene Corp (NYSE:CNC) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.70 earnings per share. The company’s quarterly revenue was up 48.5% on a year-over-year basis. Analysts expect that Centene Corp will post $3.83 EPS 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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