Centene (NYSE:CNC) issued an update on its FY 2020
Pre-Market earnings guidance on Monday morning. The company provided earnings per share guidance of 4.76-4.96 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.87. Centene also updated its FY20 guidance to $4.76 to $4.96 EPS.
A number of equities analysts recently issued reports on CNC shares. ValuEngine lowered shares of Centene from a sell rating to a strong sell rating in a research report on Thursday, July 2nd. Oppenheimer began coverage on shares of Centene in a report on Friday, June 12th. They set a buy rating and a $90.00 target price for the company. Deutsche Bank boosted their target price on shares of Centene from $80.00 to $87.00 and gave the company a buy rating in a research report on Wednesday, July 29th. SVB Leerink initiated coverage on Centene in a research report on Wednesday, July 1st. They set an outperform rating and a $78.00 price target on the stock. Finally, Jefferies Financial Group reduced their price objective on Centene from $85.00 to $83.00 and set a buy rating for the company in a research note on Wednesday, July 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $82.92.
Centene stock opened at $56.44 on Monday. The company has a fifty day simple moving average of $62.85 and a 200-day simple moving average of $62.87. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $32.71 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 0.82 and a beta of 0.61. Centene has a 52-week low of $41.62 and a 52-week high of $74.70.
Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $2.40 EPS for the quarter, missing the Zacks’ consensus estimate of $2.43 by ($0.03). The company had revenue of $27.71 billion for the quarter, compared to analysts’ expectations of $27.48 billion. Centene had a return on equity of 14.07% and a net margin of 1.70%. The business’s quarterly revenue was up 51.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 EPS. On average, research analysts anticipate that Centene will post 4.88 EPS for the current fiscal year.
In related news, Director Tommy G. Thompson sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $64.13, for a total transaction of $96,195.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard A. Gephardt sold 10,401 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $65.02, for a total value of $676,273.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,528 shares of company stock worth $8,822,859. Corporate insiders own 1.90% of the company’s stock.
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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