Brokers Set Expectations for Centene Corporation’s FY2018 Earnings (CNC)

Centene Corporation (NYSE:CNC) – Equities researchers at Cantor Fitzgerald lifted their FY2018 earnings per share estimates for shares of Centene in a research note issued to investors on Wednesday. Cantor Fitzgerald analyst S. Halper now anticipates that the company will post earnings per share of $7.25 for the year, up from their previous estimate of $5.75. Cantor Fitzgerald currently has a “Overweight” rating and a $125.00 price target on the stock.

Centene (NYSE:CNC) last released its earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $12.81 billion during the quarter, compared to the consensus estimate of $12.25 billion. Centene had a net margin of 1.71% and a return on equity of 13.68%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 earnings per share.

Other research analysts also recently issued research reports about the stock. ValuEngine raised shares of Centene from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Jefferies Group raised their target price on shares of Centene from $112.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, December 18th. Piper Jaffray Companies reissued a “buy” rating and issued a $134.00 price objective on shares of Centene in a research report on Monday, December 18th. Oppenheimer reissued a “buy” rating and issued a $111.00 price objective on shares of Centene in a research report on Friday, December 15th. Finally, Cowen reissued a “buy” rating and issued a $115.00 price objective on shares of Centene in a research report on Tuesday, October 24th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $110.28.

Centene (NYSE:CNC) opened at $101.66 on Monday. The firm has a market cap of $17,631.61, a price-to-earnings ratio of 21.68, a P/E/G ratio of 0.96 and a beta of 0.71. Centene has a 12-month low of $65.03 and a 12-month high of $112.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.93 and a quick ratio of 0.99.

In other news, EVP Keith H. Williamson sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $100.11, for a total transaction of $500,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert K. Ditmore sold 8,750 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $104.30, for a total transaction of $912,625.00. The disclosure for this sale can be found here. In the last three months, insiders sold 23,750 shares of company stock valued at $2,400,475. Insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Centene during the 4th quarter worth about $131,000. Tower Research Capital LLC TRC acquired a new stake in shares of Centene during the 4th quarter worth about $145,000. Baldwin Brothers Inc. MA acquired a new stake in shares of Centene during the 3rd quarter worth about $185,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Centene during the 4th quarter worth about $188,000. Finally, Calamos Advisors LLC acquired a new stake in shares of Centene during the 3rd quarter worth about $207,000. Institutional investors own 92.03% of the company’s stock.

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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.

Earnings History and Estimates for Centene (NYSE:CNC)

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