Zacks: Analysts Expect Cerner Corporation (CERN) Will Post Quarterly Sales of $1.29 Billion
Wall Street brokerages predict that Cerner Corporation (NASDAQ:CERN) will announce sales of $1.29 billion for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Cerner Corporation’s earnings. The lowest sales estimate is $1.28 billion and the highest is $1.30 billion. Cerner Corporation posted sales of $1.18 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 9.3%. The company is expected to report its next quarterly earnings report after the market closes on Thursday, October 26th.
On average, analysts expect that Cerner Corporation will report full year sales of $1.29 billion for the current financial year, with estimates ranging from $5.18 billion to $5.25 billion. For the next financial year, analysts forecast that the company will report sales of $5.63 billion per share, with estimates ranging from $5.53 billion to $5.73 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Cerner Corporation.
Cerner Corporation (NASDAQ:CERN) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). Cerner Corporation had a net margin of 13.47% and a return on equity of 18.18%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the company earned $0.58 EPS. The business’s revenue was up 6.3% on a year-over-year basis.
Several brokerages have weighed in on CERN. SunTrust Banks, Inc. reissued a “buy” rating and set a $79.00 price objective on shares of Cerner Corporation in a report on Thursday, October 19th. Zacks Investment Research raised shares of Cerner Corporation from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a report on Tuesday, October 17th. Jefferies Group LLC set a $79.00 price objective on shares of Cerner Corporation and gave the stock a “buy” rating in a report on Friday, October 13th. Piper Jaffray Companies reissued a “buy” rating and set a $77.00 price objective on shares of Cerner Corporation in a report on Thursday, October 12th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $77.00 price objective on shares of Cerner Corporation in a report on Tuesday, October 10th. Fourteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $69.05.
In other Cerner Corporation news, President Zane M. Burke sold 94,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $67.47, for a total transaction of $6,342,180.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Nill sold 99,470 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $70.45, for a total transaction of $7,007,661.50. The disclosure for this sale can be found here. Insiders have sold a total of 371,583 shares of company stock valued at $24,758,191 over the last three months. 13.20% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of CERN. Advisory Services Network LLC boosted its stake in Cerner Corporation by 4.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,648 shares of the company’s stock valued at $110,000 after purchasing an additional 70 shares during the period. Acrospire Investment Management LLC boosted its stake in Cerner Corporation by 100.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock valued at $120,000 after purchasing an additional 900 shares during the period. Pacad Investment Ltd. acquired a new position in Cerner Corporation during the 2nd quarter valued at about $130,000. Sun Life Financial INC boosted its stake in Cerner Corporation by 23,700.0% during the 2nd quarter. Sun Life Financial INC now owns 2,142 shares of the company’s stock valued at $142,000 after purchasing an additional 2,133 shares during the period. Finally, Archford Capital Strategies LLC boosted its stake in Cerner Corporation by 93.8% during the 1st quarter. Archford Capital Strategies LLC now owns 2,599 shares of the company’s stock valued at $153,000 after purchasing an additional 1,258 shares during the period. 78.98% of the stock is owned by hedge funds and other institutional investors.
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Cerner Corporation (NASDAQ CERN) traded up 0.17% during trading on Tuesday, reaching $72.57. 2,397,446 shares of the company’s stock traded hands. The stock has a market capitalization of $24.06 billion, a P/E ratio of 36.67 and a beta of 0.95. The stock has a 50-day moving average price of $70.96 and a 200 day moving average price of $66.11. Cerner Corporation has a 1-year low of $47.01 and a 1-year high of $73.86.
Cerner Corporation Company Profile
Cerner Corporation (Cerner) is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.
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