Centene (NYSE:CNC) Releases FY 2022 Earnings Guidance

Centene (NYSE:CNCGet Rating) updated its FY 2022 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $5.55-$5.70 for the period, compared to the consensus estimate of $5.49. The company issued revenue guidance of -.

Several research firms have recently weighed in on CNC. Wells Fargo & Company reduced their price objective on Centene from $96.00 to $95.00 and set an overweight rating for the company in a research report on Wednesday, May 25th. StockNews.com began coverage on Centene in a research report on Thursday, March 31st. They set a strong-buy rating for the company. Sanford C. Bernstein assumed coverage on Centene in a research report on Thursday, May 26th. They set an outperform rating and a $108.00 price objective for the company. Bank of America cut Centene from a buy rating to a neutral rating and reduced their price target for the company from $95.00 to $90.00 in a research report on Thursday, May 26th. Finally, Loop Capital assumed coverage on Centene in a research report on Thursday. They set a buy rating and a $100.00 price target for the company. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $92.50.

NYSE:CNC opened at $76.32 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.68. The stock’s 50 day moving average price is $82.68 and its two-hundred day moving average price is $82.25. The firm has a market capitalization of $44.64 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 0.96 and a beta of 0.52. Centene has a 12-month low of $59.67 and a 12-month high of $89.92.

Centene (NYSE:CNCGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.15. The firm had revenue of $37.19 billion for the quarter, compared to analyst estimates of $34.48 billion. Centene had a return on equity of 11.82% and a net margin of 1.12%. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.63 earnings per share. Equities research analysts expect that Centene will post 5.59 EPS for the current year.

In other news, Director Theodore R. Samuels II bought 6,270 shares of the stock in a transaction dated Thursday, April 28th. The shares were bought at an average price of $80.94 per share, for a total transaction of $507,493.80. Following the completion of the purchase, the director now owns 11,000 shares in the company, valued at $890,340. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Shannon Bagley sold 8,000 shares of the stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $80.99, for a total value of $647,920.00. Following the transaction, the executive vice president now owns 128,353 shares in the company, valued at approximately $10,395,309.47. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of CNC. Flagship Harbor Advisors LLC acquired a new stake in shares of Centene in the 4th quarter valued at $209,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Centene in the 4th quarter valued at $634,000. Penserra Capital Management LLC boosted its holdings in shares of Centene by 19.8% in the 4th quarter. Penserra Capital Management LLC now owns 3,042 shares of the company’s stock valued at $250,000 after purchasing an additional 502 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Centene by 14.2% in the 4th quarter. Glenmede Trust Co. NA now owns 35,210 shares of the company’s stock valued at $2,900,000 after purchasing an additional 4,381 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its holdings in shares of Centene by 96.1% in the 4th quarter. State of Tennessee Treasury Department now owns 193,084 shares of the company’s stock valued at $15,911,000 after purchasing an additional 94,622 shares in the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Centene Company Profile (Get Rating)

Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its 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 cover 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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