Centene Corp (NYSE:CNC) Expected to Post Earnings of $0.97 Per Share

Equities analysts expect Centene Corp (NYSE:CNC) to post earnings of $0.97 per share for the current quarter, according to Zacks. Six analysts have provided estimates for Centene’s earnings, with the highest EPS estimate coming in at $1.06 and the lowest estimate coming in at $0.92. Centene posted earnings per share of $0.90 in the same quarter last year, which would suggest a positive year over year growth rate of 7.8%. The company is expected to report its next earnings report on Tuesday, October 22nd.

According to Zacks, analysts expect that Centene will report full-year earnings of $4.42 per share for the current year, with EPS estimates ranging from $4.30 to $4.49. For the next fiscal year, analysts anticipate that the business will report earnings of $4.94 per share, with EPS estimates ranging from $4.76 to $5.08. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Centene.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, July 23rd. The company reported $1.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.10. The business had revenue of $18.36 billion for the quarter, compared to analysts’ expectations of $18.02 billion. Centene had a net margin of 1.84% and a return on equity of 15.87%. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS.

Several equities analysts have issued reports on CNC shares. ValuEngine cut shares of Centene from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research cut shares of Centene from a “buy” rating to a “hold” rating and set a $59.00 price objective on the stock. in a research note on Wednesday, May 29th. Morgan Stanley lowered their price objective on shares of Centene from $71.00 to $64.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Citigroup upgraded shares of Centene from a “neutral” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Centene has an average rating of “Buy” and a consensus price target of $74.72.

CNC traded down $0.83 during midday trading on Friday, hitting $44.72. 3,676,606 shares of the company traded hands, compared to its average volume of 4,790,352. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $19.41 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 0.75 and a beta of 0.83. The company’s 50-day moving average is $50.92 and its 200 day moving average is $55.90. Centene has a 52 week low of $44.50 and a 52 week high of $74.49.

In other Centene news, Director Jessica L. Blume acquired 2,850 shares of the stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $52.99 per share, for a total transaction of $151,021.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in CNC. BlackRock Inc. increased its holdings in Centene by 101.6% in the 1st quarter. BlackRock Inc. now owns 36,536,247 shares of the company’s stock worth $1,940,075,000 after acquiring an additional 18,409,531 shares in the last quarter. Viking Global Investors LP increased its holdings in Centene by 233.3% in the 2nd quarter. Viking Global Investors LP now owns 13,994,550 shares of the company’s stock worth $733,874,000 after acquiring an additional 9,795,824 shares in the last quarter. Invesco Ltd. increased its holdings in Centene by 91.2% in the 2nd quarter. Invesco Ltd. now owns 6,368,307 shares of the company’s stock worth $333,956,000 after acquiring an additional 3,037,351 shares in the last quarter. Third Point LLC purchased a new stake in Centene in the 2nd quarter worth approximately $131,100,000. Finally, Janus Henderson Group PLC increased its holdings in Centene by 114.3% in the 1st quarter. Janus Henderson Group PLC now owns 4,657,134 shares of the company’s stock worth $247,296,000 after acquiring an additional 2,484,279 shares in the last quarter. 93.08% of the stock is 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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