Centene Corporation (NYSE:CNC) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $4.70-5.06 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.79. The company issued revenue guidance of $46.4-47.2 billion, compared to the consensus revenue estimate of $46.82 billion.
A number of analysts recently issued reports on the company. Piper Jaffray Companies reissued a buy rating and set a $105.00 price objective on shares of Centene Corporation in a report on Thursday, July 27th. UBS AG reaffirmed a buy rating and issued a $95.00 price target (up previously from $88.00) on shares of Centene Corporation in a report on Wednesday, July 26th. ValuEngine raised Centene Corporation from a hold rating to a buy rating in a report on Thursday, July 27th. Jefferies Group LLC reaffirmed a buy rating and issued a $98.00 price target on shares of Centene Corporation in a report on Thursday, July 27th. Finally, Zacks Investment Research cut Centene Corporation from a buy rating to a hold rating in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $86.82.
Centene Corporation (CNC) opened at 82.14 on Friday. The company’s 50-day moving average price is $82.24 and its 200 day moving average price is $74.50. The company has a market capitalization of $14.17 billion, a price-to-earnings ratio of 18.03 and a beta of 0.66. Centene Corporation has a 52-week low of $50.00 and a 52-week high of $87.94.
Centene Corporation (NYSE:CNC) last issued its earnings results on Tuesday, July 25th. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.29. The firm had revenue of $11.95 billion during the quarter, compared to the consensus estimate of $11.69 billion. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.29 earnings per share. On average, equities analysts expect that Centene Corporation will post $4.92 EPS for the current fiscal year.
In related news, EVP Christopher D. Bowers sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $79.43, for a total value of $317,720.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert K. Ditmore sold 3,900 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $75.43, for a total transaction of $294,177.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,578 shares of company stock valued at $4,264,757. Insiders own 3.00% of the company’s stock.
Centene Corporation Company Profile
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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