Centene Corporation Expected to Earn FY2018 Earnings of $7.00 Per Share (CNC)

Centene Corporation (NYSE:CNC) – Leerink Swann upped their FY2018 earnings per share (EPS) estimates for shares of Centene in a report released on Monday. Leerink Swann analyst A. Gupte now anticipates that the company will post earnings per share of $7.00 for the year, up from their previous forecast of $5.60. Leerink Swann has a “Market Perform” rating and a $90.00 price objective on the stock. Leerink Swann also issued estimates for Centene’s FY2019 earnings at $8.00 EPS.

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

A number of other research firms have also weighed in on CNC. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Centene in a research note on Monday, December 18th. Jefferies Group upped their price objective on Centene from $112.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. Oppenheimer upped their price objective on Centene from $111.00 to $122.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 20th. ValuEngine raised Centene from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Zacks Investment Research lowered Centene from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 22nd. 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. Centene has an average rating of “Buy” and a consensus price target of $110.28.

Centene (CNC) traded down $3.73 during midday trading on Thursday, hitting $98.40. The stock had a trading volume of 782,573 shares, compared to its average volume of 1,394,024. The company has a market capitalization of $17,450.00, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.71. 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 1 year low of $65.03 and a 1 year high of $112.42.

In other Centene news, Director Robert K. Ditmore sold 8,750 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $104.13, for a total transaction of $911,137.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Keith H. Williamson sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $100.11, for a total value of $500,550.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,500 shares of company stock worth $3,311,613. Company insiders own 3.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP purchased a new stake in shares of Centene in the second quarter worth approximately $283,000. Janus Henderson Group PLC raised its holdings in shares of Centene by 320.5% in the second quarter. Janus Henderson Group PLC now owns 102,870 shares of the company’s stock worth $8,216,000 after buying an additional 78,409 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Centene in the second quarter worth approximately $455,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Centene in the second quarter worth approximately $337,000. Finally, Koch Industries Inc. purchased a new stake in shares of Centene in the second quarter worth approximately $241,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

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About Centene

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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