Leerink Swann Weighs in on Centene Corporation’s Q1 2018 Earnings (CNC)

Centene Corporation (NYSE:CNC) – Investment analysts at Leerink Swann issued their Q1 2018 earnings estimates for Centene in a research report issued to clients and investors on Monday. Leerink Swann analyst A. Gupte expects that the company will earn $1.90 per share for the quarter. Leerink Swann currently has a “Market Perform” rating and a $90.00 price objective on the stock. Leerink Swann also issued estimates for Centene’s Q2 2018 earnings at $1.80 EPS, Q3 2018 earnings at $1.90 EPS and Q4 2018 earnings at $1.40 EPS.

Several other equities research analysts also recently issued reports on CNC. BMO Capital Markets started coverage on shares of Centene in a research note on Tuesday, October 17th. They set an “outperform” rating and a $120.00 price objective for the company. Cowen reiterated a “buy” rating and set a $115.00 price objective on shares of Centene in a research note on Tuesday, October 24th. Cantor Fitzgerald restated a “buy” rating and issued a $107.00 target price on shares of Centene in a research note on Tuesday, October 24th. Oppenheimer restated a “buy” rating and issued a $105.00 target price on shares of Centene in a research note on Tuesday, October 24th. Finally, Credit Suisse Group assumed coverage on shares of Centene in a research note on Thursday, November 2nd. They issued a “neutral” rating and a $102.00 target price for the company. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $110.28.

Shares of Centene (NYSE CNC) opened at $103.00 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.99 and a current ratio of 0.93. Centene has a 52 week low of $65.03 and a 52 week high of $112.42. The stock has a market cap of $17,879.62, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 0.97 and a beta of 0.71.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Focused Wealth Management Inc raised its holdings in Centene by 900.0% in the fourth quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock valued at $101,000 after acquiring an additional 900 shares in the last quarter. Financial Gravity Companies Inc. acquired a new stake in Centene in the fourth quarter valued at $112,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Centene in the fourth quarter valued at $131,000. Tower Research Capital LLC TRC acquired a new stake in Centene in the fourth quarter valued at $145,000. Finally, Advisors Preferred LLC acquired a new stake in Centene in the fourth quarter valued at $159,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Keith H. Williamson sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $100.11, for a total value of $500,550.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jesse N. Hunter sold 10,000 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $98.73, for a total transaction of $987,300.00. The disclosure for this sale can be found here. Insiders sold 32,500 shares of company stock valued at $3,311,613 over the last 90 days. Insiders own 3.00% 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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