Mitsubishi UFJ Financial Group Weighs in on Centene Corp’s Q2 2019 Earnings (CNC)

Centene Corp (NYSE:CNC) – Equities researchers at Mitsubishi UFJ Financial Group lifted their Q2 2019 earnings per share estimates for shares of Centene in a research report issued to clients and investors on Tuesday, April 23rd. Mitsubishi UFJ Financial Group analyst J. Twizell now anticipates that the company will post earnings of $1.27 per share for the quarter, up from their prior estimate of $1.19.

Several other brokerages have also issued reports on CNC. Zacks Investment Research upgraded Centene from a “hold” rating to a “buy” rating in a research note on Wednesday, February 6th. Oppenheimer decreased their price target on Centene from $165.00 to $83.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 6th. Jefferies Financial Group reiterated a “buy” rating and issued a $76.00 price target on shares of Centene in a research note on Thursday, February 7th. ValuEngine lowered Centene from a “hold” rating to a “sell” rating in a research note on Friday, February 8th. Finally, Cowen assumed coverage on Centene in a research note on Thursday, February 28th. They issued an “outperform” rating and a $77.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $76.35.

Shares of CNC opened at $52.63 on Friday. Centene has a 52-week low of $45.44 and a 52-week high of $74.49. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.04. The firm has a market capitalization of $20.79 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.88 and a beta of 1.26.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.07. Centene had a return on equity of 14.60% and a net margin of 1.66%. The company had revenue of $18.44 billion for the quarter, compared to analyst estimates of $17.44 billion. During the same quarter last year, the company posted $2.17 EPS. The company’s revenue for the quarter was up 39.8% compared to the same quarter last year.

In related news, EVP Christopher D. Bowers sold 9,200 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $65.01, for a total transaction of $598,092.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank boosted its holdings in shares of Centene by 110.7% during the 1st quarter. Huntington National Bank now owns 472 shares of the company’s stock valued at $25,000 after acquiring an additional 248 shares in the last quarter. Toth Financial Advisory Corp boosted its holdings in shares of Centene by 100.0% during the 1st quarter. Toth Financial Advisory Corp now owns 480 shares of the company’s stock valued at $25,000 after acquiring an additional 240 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Centene during the 1st quarter valued at $27,000. Lindbrook Capital LLC acquired a new stake in shares of Centene during the 4th quarter valued at $31,000. Finally, North Star Investment Management Corp. boosted its holdings in shares of Centene by 100.0% during the 1st quarter. North Star Investment Management Corp. now owns 600 shares of the company’s stock valued at $32,000 after acquiring an additional 300 shares in the last quarter. 45.81% of the stock is currently owned by institutional investors.

About Centene

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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