Centene Co. (CNC) Expected to Post Quarterly Sales of $13.27 Billion

Wall Street analysts expect Centene Co. (NYSE:CNC) to post $13.27 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Centene’s earnings, with the highest sales estimate coming in at $13.84 billion and the lowest estimate coming in at $12.65 billion. Centene posted sales of $11.72 billion in the same quarter last year, which suggests a positive year over year growth rate of 13.2%. The firm is scheduled to issue its next earnings report before the market opens on Tuesday, April 24th.

According to Zacks, analysts expect that Centene will report full-year sales of $60.99 billion for the current financial year, with estimates ranging from $60.63 billion to $61.26 billion. For the next year, analysts anticipate that the company will post sales of $67.74 billion per share, with estimates ranging from $66.78 billion to $69.96 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Centene.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.03. Centene had a return on equity of 13.68% and a net margin of 1.71%. The company had revenue of $12.81 billion for the quarter, compared to the consensus estimate of $12.25 billion. During the same quarter in the previous year, the business earned $1.19 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year.

A number of brokerages have recently issued reports on CNC. Cantor Fitzgerald reaffirmed a “buy” rating and set a $125.00 target price on shares of Centene in a research report on Monday, April 2nd. ValuEngine raised Centene from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research raised Centene from a “hold” rating to a “strong-buy” rating and set a $117.00 target price on the stock in a research report on Tuesday, December 26th. Citigroup reaffirmed an “outperform” rating and set a $130.00 target price (up from $122.00) on shares of Centene in a research report on Wednesday, February 7th. Finally, Morgan Stanley boosted their target price on Centene from $118.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $110.28.

In related news, Director Robert K. Ditmore sold 8,750 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $104.13, for a total transaction of $911,137.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher D. Bowers sold 4,800 shares of the company’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $102.27, for a total value of $490,896.00. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. New Mexico Educational Retirement Board grew its stake in Centene by 3.8% in the fourth quarter. New Mexico Educational Retirement Board now owns 16,600 shares of the company’s stock valued at $1,675,000 after purchasing an additional 600 shares in the last quarter. Eqis Capital Management Inc. grew its stake in Centene by 5.1% in the fourth quarter. Eqis Capital Management Inc. now owns 13,862 shares of the company’s stock valued at $1,398,000 after purchasing an additional 672 shares in the last quarter. Synovus Financial Corp grew its stake in Centene by 2.3% in the fourth quarter. Synovus Financial Corp now owns 30,363 shares of the company’s stock valued at $3,063,000 after purchasing an additional 685 shares in the last quarter. CIBC Asset Management Inc grew its stake in Centene by 4.5% in the fourth quarter. CIBC Asset Management Inc now owns 17,217 shares of the company’s stock valued at $1,737,000 after purchasing an additional 742 shares in the last quarter. Finally, Westbourne Investment Advisors Inc. grew its stake in Centene by 13.7% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 7,450 shares of the company’s stock valued at $752,000 after purchasing an additional 895 shares in the last quarter. Hedge funds and other institutional investors own 90.58% of the company’s stock.

Shares of CNC traded down $0.74 during midday trading on Monday, reaching $110.63. The stock had a trading volume of 1,108,946 shares, compared to its average volume of 1,369,513. Centene has a 52 week low of $70.58 and a 52 week high of $113.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $19,520.11, a PE ratio of 21.99, a P/E/G ratio of 1.06 and a beta of 0.75.

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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. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.

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Earnings History and Estimates for Centene (NYSE:CNC)

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