Centene (CNC) Issues FY18 Earnings Guidance

Centene (NYSE:CNC) issued an update on its FY18 earnings guidance on Thursday morning. The company provided EPS guidance of $5.47-5.87 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.49. The company issued revenue guidance of $60-60.8 billion, compared to the consensus revenue estimate of $51.91 billion.Centene also updated its FY17 guidance to $4.86-5.04 EPS.

Centene (NYSE:CNC) traded up $0.33 on Thursday, hitting $101.19. The stock had a trading volume of 1,989,800 shares, compared to its average volume of 1,676,377. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71. Centene has a 52-week low of $54.40 and a 52-week high of $103.15. The stock has a market capitalization of $17,470.00, a PE ratio of 19.21, a PEG ratio of 1.54 and a beta of 0.71.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.11. Centene had a return on equity of 14.79% and a net margin of 1.81%. The firm had revenue of $11.90 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same period in the previous year, the firm earned $1.12 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. analysts forecast that Centene will post 4.98 earnings per share for the current fiscal year.

CNC has been the topic of several research reports. Deutsche Bank restated a buy rating and set a $111.00 price target (up from $95.00) on shares of Centene in a research report on Thursday, September 14th. Oppenheimer lifted their price target on Centene from $105.00 to $111.00 and gave the company an outperform rating in a research report on Wednesday, October 25th. Zacks Investment Research upgraded Centene from a hold rating to a buy rating and set a $107.00 price target on the stock in a research report on Friday, September 15th. Jefferies Group lifted their price target on Centene from $98.00 to $112.00 and gave the company a buy rating in a research report on Friday, October 13th. Finally, Credit Suisse Group initiated coverage on Centene in a research report on Thursday, November 2nd. They set a neutral rating and a $102.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $99.11.

In other Centene news, Director Robert K. Ditmore sold 4,167 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $90.42, for a total value of $376,780.14. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.00% of the company’s stock.

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Centene 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.

Earnings History and Estimates for Centene (NYSE:CNC)

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