Centene Corporation (NYSE:CNC) Set to Announce Earnings on Tuesday
Centene Corporation (NYSE:CNC) is scheduled to be releasing its earnings data on Tuesday, July 25th. Analysts expect Centene Corporation to post earnings of $1.28 per share for the quarter. Centene Corporation has set its FY17 guidance at $4.50-4.90 EPS.
Centene Corporation (NYSE:CNC) last released its quarterly earnings data on Tuesday, April 25th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.06. Centene Corporation had a return on equity of 14.19% and a net margin of 1.57%. The company had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $11.44 billion. During the same period last year, the firm posted $0.74 earnings per share. The business’s revenue was up 68.6% on a year-over-year basis. On average, analysts expect Centene Corporation to post $4.76 EPS for the current fiscal year and $5.33 EPS for the next fiscal year.
Shares of Centene Corporation (NYSE:CNC) opened at 83.69 on Tuesday. The stock has a 50 day moving average price of $77.26 and a 200-day moving average price of $69.76. Centene Corporation has a 52-week low of $50.00 and a 52-week high of $85.79. The firm has a market capitalization of $14.42 billion, a PE ratio of 20.60 and a beta of 0.67.
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In related news, Chairman Michael F. Neidorff sold 35,000 shares of the stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $80.26, for a total value of $2,809,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mark J. Brooks sold 2,161 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $75.43, for a total value of $163,004.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,728 shares of company stock worth $4,506,020. Insiders own 3.00% of the company’s stock.
CNC has been the topic of several research analyst reports. Citigroup Inc. downgraded Centene Corporation from a “buy” rating to a “neutral” rating and set a $73.00 price objective on the stock. in a research note on Thursday, March 23rd. Zacks Investment Research downgraded Centene Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Deutsche Bank AG initiated coverage on Centene Corporation in a research note on Wednesday, April 5th. They issued a “buy” rating and a $84.00 price objective on the stock. Morgan Stanley initiated coverage on Centene Corporation in a research note on Tuesday, June 6th. They issued an “overweight” rating and a $86.00 price objective on the stock. Finally, Evercore ISI upped their price objective on Centene Corporation from $80.00 to $83.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $81.74.
About Centene Corporation
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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