Centene Corporation Forecasted to Post Q1 2018 Earnings of $1.90 Per Share (CNC)

Centene Corporation (NYSE:CNC) – Equities research analysts at Leerink Swann issued their Q1 2018 EPS estimates for Centene in a research report issued to clients and investors on Monday. Leerink Swann analyst A. Gupte expects that the company will earn $1.90 per share for the quarter. Leerink Swann currently has a “Market Perform” rating and a $90.00 target price on the stock. Leerink Swann also issued estimates for Centene’s Q2 2018 earnings at $1.80 EPS, Q3 2018 earnings at $1.90 EPS and Q4 2018 earnings at $1.40 EPS.

Other analysts also recently issued reports about the stock. Jefferies Group increased their price target on shares of Centene from $112.00 to $115.00 and gave the company a “buy” rating in a report on Monday, December 18th. Piper Jaffray Companies reissued a “buy” rating and issued a $134.00 price target on shares of Centene in a report on Monday, December 18th. Cantor Fitzgerald reissued a “buy” rating and issued a $115.00 price target on shares of Centene in a report on Monday, December 18th. Oppenheimer reissued a “buy” rating and issued a $111.00 price target on shares of Centene in a report on Friday, December 15th. Finally, Cowen reissued a “buy” rating and issued a $115.00 price target on shares of Centene in a report on Tuesday, October 24th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Centene has a consensus rating of “Buy” and an average price target of $110.28.

Shares of Centene (NYSE CNC) opened at $102.13 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.68. Centene has a 1-year low of $65.03 and a 1-year high of $112.42. The firm has a market cap of $17,620.00, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 0.97 and a beta of 0.71.

Centene (NYSE:CNC) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Centene had a net margin of 1.71% and a return on equity of 13.68%. The firm had revenue of $12.81 billion during the quarter, compared to the consensus estimate of $12.25 billion. During the same period in the prior year, the firm earned $1.19 EPS. The business’s revenue was up 7.5% on a year-over-year basis.

In other news, Director Robert K. Ditmore sold 8,750 shares of the stock in a transaction on Monday, January 8th. The shares were sold at an average price of $104.30, for a total value of $912,625.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Keith H. Williamson sold 5,000 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $100.11, for a total transaction of $500,550.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,500 shares of company stock valued at $3,311,613. Corporate insiders own 3.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Zeke Capital Advisors LLC increased its position in shares of Centene by 30.5% during the 4th quarter. Zeke Capital Advisors LLC now owns 4,291 shares of the company’s stock worth $433,000 after purchasing an additional 1,004 shares in the last quarter. LPL Financial LLC increased its position in shares of Centene by 5.2% during the 4th quarter. LPL Financial LLC now owns 18,855 shares of the company’s stock worth $1,904,000 after purchasing an additional 925 shares in the last quarter. Millennium Management LLC increased its position in shares of Centene by 248.1% during the 4th quarter. Millennium Management LLC now owns 29,610 shares of the company’s stock worth $2,987,000 after purchasing an additional 49,610 shares in the last quarter. Meadow Creek Investment Management LLC increased its position in shares of Centene by 39.3% during the 4th quarter. Meadow Creek Investment Management LLC now owns 68,040 shares of the company’s stock worth $6,864,000 after purchasing an additional 19,180 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of Centene by 41.1% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,342 shares of the company’s stock worth $741,000 after purchasing an additional 2,137 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This news story was first posted by Markets Daily and is owned by of Markets Daily. If you are accessing this news story on another website, it was stolen and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this news story can be read at https://www.themarketsdaily.com/2018/02/15/centene-corporation-forecasted-to-post-q1-2018-earnings-of-1-90-per-share-cnc.html.

About Centene

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)

Receive News & Ratings for Centene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centene and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply