Wall Street analysts expect Centene Corporation (NYSE:CNC) to report sales of $12.26 billion for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Centene’s earnings. The highest sales estimate is $12.64 billion and the lowest is $11.94 billion. Centene posted sales of $11.91 billion during the same quarter last year, which would indicate a positive year over year growth rate of 2.9%. The firm is expected to announce its next earnings report on Tuesday, February 6th.
According to Zacks, analysts expect that Centene will report full year sales of $12.26 billion for the current year, with estimates ranging from $47.61 billion to $48.21 billion. For the next financial year, analysts forecast that the business will report sales of $60.45 billion per share, with estimates ranging from $60.12 billion to $60.95 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Centene.
Centene (NYSE:CNC) last announced its earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $12.81 billion during the quarter, compared to analyst estimates of $12.25 billion. Centene had a net margin of 1.81% and a return on equity of 14.79%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 EPS.
In other Centene news, EVP Keith H. Williamson sold 5,000 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $100.11, for a total value of $500,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jesse N. Hunter sold 10,000 shares of the 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 disclosure for this sale can be found here. Insiders sold a total of 23,750 shares of company stock valued at $2,400,475 over the last 90 days. 3.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of CNC. Ameriprise Financial Inc. increased its stake in Centene by 47.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,181,047 shares of the company’s stock worth $502,999,000 after buying an additional 1,676,688 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in Centene by 298.0% in the 3rd quarter. Epoch Investment Partners Inc. now owns 997,346 shares of the company’s stock worth $96,513,000 after buying an additional 746,783 shares in the last quarter. Acadian Asset Management LLC increased its stake in Centene by 68.2% in the 4th quarter. Acadian Asset Management LLC now owns 1,239,278 shares of the company’s stock worth $125,021,000 after buying an additional 502,329 shares in the last quarter. Ardevora Asset Management LLP purchased a new stake in Centene in the 3rd quarter worth $42,869,000. Finally, Janus Henderson Group PLC increased its stake in Centene by 341.4% in the 3rd quarter. Janus Henderson Group PLC now owns 454,065 shares of the company’s stock worth $43,940,000 after buying an additional 351,195 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.
Shares of Centene (NYSE CNC) opened at $103.67 on Wednesday. The firm has a market cap of $17,890.00, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 1.28 and a beta of 0.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.99 and a current ratio of 0.99. Centene has a 12 month low of $65.03 and a 12 month high of $112.42.
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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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