WellCare Health Plans, Inc. (WCG) Expected to Announce Earnings of $0.18 Per Share

Analysts predict that WellCare Health Plans, Inc. (NYSE:WCG) will announce earnings per share (EPS) of $0.18 for the current quarter, Zacks reports. Six analysts have made estimates for WellCare Health Plans’ earnings. The lowest EPS estimate is $0.12 and the highest is $0.24. WellCare Health Plans reported earnings of $1.03 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 82.5%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, February 6th.

According to Zacks, analysts expect that WellCare Health Plans will report full-year earnings of $8.40 per share for the current fiscal year, with EPS estimates ranging from $8.33 to $8.56. For the next year, analysts forecast that the company will post earnings of $8.61 per share, with EPS estimates ranging from $8.05 to $9.69. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow WellCare Health Plans.

WellCare Health Plans (NYSE:WCG) last announced its earnings results on Tuesday, October 31st. The company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $2.18. WellCare Health Plans had a return on equity of 19.42% and a net margin of 2.21%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same period last year, the firm posted $1.63 earnings per share. The business’s revenue for the quarter was up 22.8% on a year-over-year basis.

Several research analysts have recently commented on the company. Cowen assumed coverage on WellCare Health Plans in a research note on Monday, October 9th. They issued an “outperform” rating and a $200.00 price objective on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $214.00 price objective on shares of WellCare Health Plans in a research note on Wednesday, November 1st. Zacks Investment Research downgraded WellCare Health Plans from a “strong-buy” rating to a “hold” rating in a research note on Saturday, January 6th. ValuEngine downgraded WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Jefferies Group raised their price objective on WellCare Health Plans from $190.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, November 1st. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. WellCare Health Plans presently has a consensus rating of “Hold” and an average target price of $210.07.

In related news, Director Carol Burt sold 997 shares of WellCare Health Plans stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total transaction of $201,593.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.47% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of WCG. Fuller & Thaler Asset Management Inc. bought a new stake in WellCare Health Plans during the 3rd quarter valued at approximately $103,000. Advisory Services Network LLC increased its stake in WellCare Health Plans by 8.4% in the 2nd quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock worth $155,000 after acquiring an additional 67 shares during the last quarter. Bayesian Capital Management LP bought a new stake in WellCare Health Plans in the 2nd quarter worth approximately $307,000. Highbridge Capital Management LLC bought a new stake in WellCare Health Plans in the 3rd quarter worth approximately $311,000. Finally, Hillsdale Investment Management Inc. increased its stake in WellCare Health Plans by 2,075.0% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 1,740 shares of the company’s stock worth $312,000 after acquiring an additional 1,660 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors.

WellCare Health Plans (NYSE WCG) traded up $2.86 during midday trading on Friday, hitting $218.79. The stock had a trading volume of 236,254 shares, compared to its average volume of 281,846. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 1.28. WellCare Health Plans has a 1 year low of $136.23 and a 1 year high of $218.81. The company has a market capitalization of $9,660.00, a P/E ratio of 27.45, a P/E/G ratio of 1.57 and a beta of 0.82.

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About WellCare Health Plans

WellCare Health Plans, Inc is a managed care company. The Company focuses on government-sponsored managed care services, primarily through Medicaid, Medicare Advantage (MA) and Medicare Prescription Drug Plans (PDPs), to families, children, seniors and individuals with medical needs. The Company operates through three segments: Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.

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Earnings History and Estimates for WellCare Health Plans (NYSE:WCG)

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