Centene (NYSE:CNC) Issues FY20 Earnings Guidance

Centene (NYSE:CNC) issued an update on its FY20 earnings guidance on Monday morning. The company provided earnings per share guidance of $4.76 to $4.96 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.88.

NYSE CNC opened at $56.44 on Monday. Centene has a fifty-two week low of $41.62 and a fifty-two week high of $74.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a 50 day simple moving average of $62.85 and a two-hundred day simple moving average of $62.87. The stock has a market cap of $32.71 billion, a P/E ratio of 19.80, a price-to-earnings-growth ratio of 0.82 and a beta of 0.61.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, July 28th. The company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.03). Centene had a return on equity of 14.07% and a net margin of 1.70%. The business had revenue of $27.71 billion during the quarter, compared to analysts’ expectations of $27.48 billion. During the same quarter last year, the business posted $1.34 EPS. The company’s quarterly revenue was up 51.0% compared to the same quarter last year. Sell-side analysts predict that Centene will post 4.88 earnings per share for the current year.

A number of research analysts have recently commented on CNC shares. Jefferies Financial Group lowered their target price on Centene from $85.00 to $83.00 and set a buy rating for the company in a research note on Wednesday, July 29th. Deutsche Bank lifted their target price on Centene from $80.00 to $87.00 and gave the stock a buy rating in a report on Wednesday, July 29th. Oppenheimer began coverage on Centene in a report on Friday, June 12th. They issued a buy rating and a $90.00 target price for the company. ValuEngine lowered Centene from a sell rating to a strong sell rating in a report on Thursday, July 2nd. Finally, SVB Leerink began coverage on Centene in a report on Wednesday, July 1st. They issued an outperform rating and a $78.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $82.92.

In other Centene news, Director Richard A. Gephardt sold 10,401 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $65.02, for a total transaction of $676,273.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tommy G. Thompson sold 1,500 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $64.13, for a total value of $96,195.00. The disclosure for this sale can be found here. Insiders sold 136,528 shares of company stock valued at $8,822,859 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Centene Company Profile

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

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Earnings History and Estimates for Centene (NYSE:CNC)

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