Centene Corp Receives Average Rating of “Buy” from Brokerages (NYSE:CNC)
Centene Corp (NYSE:CNC) has been given a consensus recommendation of “Buy” by the twenty ratings firms that are currently covering the stock, AmericanBankingNews.com reports. Six research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $83.89.
Shares of Centene Corp (NYSE:CNC) opened at 78.13 on Tuesday. Centene Corp has a one year low of $54.12 and a one year high of $81.98. The stock has a 50-day moving average of $75.22 and a 200-day moving average of $69.42. The company has a market cap of $4.577 billion and a price-to-earnings ratio of 24.60.
Centene Corp (NYSE:CNC) last released its 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. On average, analysts predict that Centene Corp will post $3.83 earnings per share for the current fiscal year.
CNC has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Centene Corp from an “outperform” rating to a “neutral” rating in a research note on Monday, August 25th. They now have a $84.00 price target on the stock. Separately, 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. Finally, 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.
In other Centene Corp news, CAO Jeffrey A. Schwaneke unloaded 1,000 shares of Centene Corp stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $77.02, for a total value of $77,020.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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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