$12.26 Billion in Sales Expected for Centene Corporation (CNC) This Quarter

Brokerages expect that Centene Corporation (NYSE:CNC) will report $12.26 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Centene’s earnings, with estimates ranging from $11.94 billion to $12.64 billion. Centene reported sales of $11.91 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 2.9%. The firm is expected to report its next quarterly earnings report before the market opens on Tuesday, February 6th.

On average, analysts expect that Centene will report full-year sales of $12.26 billion for the current fiscal year, with estimates ranging from $47.56 billion to $48.21 billion. For the next year, analysts anticipate that the business will post sales of $60.31 billion per share, with estimates ranging from $60.12 billion to $60.41 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Centene.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.11. Centene had a return on equity of 14.79% and a net margin of 1.81%. The firm had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same period in the previous year, the business earned $1.12 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year.

A number of analysts recently weighed in on CNC shares. Credit Suisse Group started coverage on Centene in a research note on Thursday, November 2nd. They issued a “neutral” rating and a $102.00 price target on the stock. Oppenheimer lifted their price target on Centene from $111.00 to $122.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. BMO Capital Markets initiated coverage on Centene in a report on Tuesday, October 17th. They set an “outperform” rating and a $120.00 price objective for the company. Cantor Fitzgerald reaffirmed a “buy” rating and set a $107.00 price objective on shares of Centene in a report on Tuesday, October 24th. Finally, Jefferies Group lifted their price objective on Centene from $98.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, October 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $104.21.

In other news, EVP Jesse N. Hunter sold 10,000 shares of the business’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $98.73, for a total value of $987,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert K. Ditmore sold 4,167 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $90.42, for a total value of $376,780.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,917 shares of company stock valued at $2,777,255. 3.00% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware acquired a new position in shares of Centene in the second quarter worth $101,000. Baldwin Brothers Inc. MA acquired a new position in shares of Centene in the third quarter worth $185,000. Sii Investments Inc. WI acquired a new position in shares of Centene in the second quarter worth $202,000. Calamos Advisors LLC acquired a new position in shares of Centene in the third quarter worth $207,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in shares of Centene in the third quarter worth $207,000. 92.16% of the stock is owned by institutional investors.

Shares of Centene (NYSE:CNC) opened at $110.67 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71. Centene has a 12 month low of $61.37 and a 12 month high of $111.95. The firm has a market capitalization of $19,040.00, a P/E ratio of 22.87, a P/E/G ratio of 1.37 and a beta of 0.70.

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Centene Company Profile

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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Earnings History and Estimates for Centene (NYSE:CNC)

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