Centene (NYSE:CNC) Updates FY19 Earnings Guidance

Centene (NYSE:CNC) updated its FY19 earnings guidance on Tuesday. The company provided earnings per share guidance of $4.29-$4.49 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.41. The company issued revenue guidance of $73.6-$74.2 billion, compared to the consensus revenue estimate of $73.81 billion.Centene also updated its FY 2019 guidance to $3.04-3.21 EPS.

A number of analysts have weighed in on the stock. Deutsche Bank assumed coverage on shares of Centene in a report on Thursday, September 12th. They set a buy rating and a $62.00 price objective on the stock. Zacks Investment Research lowered shares of Centene from a hold rating to a sell rating and set a $50.00 target price on the stock. in a research report on Friday. Morgan Stanley lowered their target price on shares of Centene from $64.00 to $62.00 and set an overweight rating on the stock in a research report on Thursday, September 26th. Finally, ValuEngine upgraded shares of Centene from a strong sell rating to a sell rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $71.53.

NYSE:CNC traded up $2.57 during midday trading on Tuesday, reaching $48.35. The stock had a trading volume of 3,281,378 shares, compared to its average volume of 4,890,235. The firm has a fifty day simple moving average of $45.16 and a two-hundred day simple moving average of $50.64. Centene has a 12-month low of $41.62 and a 12-month high of $74.49. 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 stock has a market cap of $19.39 billion, a P/E ratio of 13.66, a P/E/G ratio of 0.75 and a beta of 0.86.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.10. Centene had a net margin of 1.84% and a return on equity of 15.87%. The firm had revenue of $18.36 billion for the quarter, compared to analyst estimates of $18.02 billion. During the same period last year, the firm posted $0.90 EPS. Centene’s quarterly revenue was up 29.4% on a year-over-year basis. On average, sell-side analysts anticipate that Centene will post 4.41 earnings per share for the current fiscal year.

In other Centene news, Director Jessica L. Blume bought 2,850 shares of Centene stock in a transaction on Friday, July 26th. The stock was bought at an average price of $52.99 per share, with a total value of $151,021.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.50% of the stock is currently owned by company insiders.

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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