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

Wall Street analysts predict that Centene Corp (NYSE:CNC) will announce earnings of $0.97 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Centene’s earnings, with estimates ranging from $0.92 to $1.06. Centene posted earnings per share of $0.89 during the same quarter last year, which would indicate a positive year-over-year growth rate of 9%. The company is scheduled to issue its next earnings results on Tuesday, October 22nd.

On average, 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 expect that the company will report earnings of $4.94 per share, with EPS estimates ranging from $4.76 to $5.08. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Centene.

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

CNC has been the topic of a number of research reports. Zacks Investment Research lowered shares of Centene from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research report on Monday, September 2nd. ValuEngine lowered shares of Centene from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Morgan Stanley lowered their target price on shares of Centene from $71.00 to $64.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Finally, Deutsche Bank started coverage on shares of Centene in a research report on Thursday. They issued a “buy” rating and a $62.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $73.10.

Shares of CNC traded up $0.70 during mid-day trading on Friday, reaching $45.59. 159,152 shares of the company’s stock were exchanged, compared to its average volume of 4,019,593. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $19.57 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 0.75 and a beta of 0.85. The business’s fifty day simple moving average is $48.36 and its 200-day simple moving average is $53.23. Centene has a 52-week low of $44.50 and a 52-week high of $74.49.

In other news, Director Jessica L. Blume acquired 2,850 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $52.99 per share, for a total transaction of $151,021.50. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.50% of the company’s stock.

Large investors have recently bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Centene by 5.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 117,973 shares of the company’s stock worth $6,187,000 after purchasing an additional 5,801 shares in the last quarter. Polar Asset Management Partners Inc. boosted its position in shares of Centene by 12.7% during the 2nd quarter. Polar Asset Management Partners Inc. now owns 50,700 shares of the company’s stock worth $2,659,000 after purchasing an additional 5,700 shares in the last quarter. Boston Partners boosted its position in shares of Centene by 111.8% during the 2nd quarter. Boston Partners now owns 4,976,011 shares of the company’s stock worth $260,985,000 after purchasing an additional 2,626,873 shares in the last quarter. Atria Investments LLC boosted its position in shares of Centene by 15.3% during the 2nd quarter. Atria Investments LLC now owns 51,800 shares of the company’s stock worth $2,510,000 after purchasing an additional 6,865 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of Centene by 2.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 176,672 shares of the company’s stock worth $9,265,000 after purchasing an additional 4,250 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

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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