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.
Several analysts have recently commented on the company. Cantor Fitzgerald reissued a buy rating and issued a $90.00 price objective on shares of Centene Corporation in a research note on Tuesday, July 25th. Morgan Stanley assumed coverage on Centene Corporation in a research note on Tuesday, June 6th. They issued an overweight rating and a $86.00 price objective for the company. J P Morgan Chase & Co downgraded Centene Corporation from an overweight rating to a neutral rating and set a $75.00 price objective for the company. in a research note on Monday, May 22nd. Stifel Nicolaus increased their price target on Centene Corporation from $80.00 to $85.00 and gave the company a buy rating in a research report on Wednesday, April 26th. Finally, Jefferies Group LLC reissued a buy rating and set a $85.00 price objective (up from $83.00) on shares of Centene Corporation in a report on Saturday, April 29th. One research 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 company has an average rating of Buy and a consensus price target of $86.82.
Centene Corporation (NYSE:CNC) traded down 0.715% during midday trading on Friday, reaching $82.595. The company’s stock had a trading volume of 1,096,678 shares. Centene Corporation has a one year low of $50.00 and a one year high of $87.94. The firm has a 50 day moving average price of $81.53 and a 200 day moving average price of $73.62. The firm has a market cap of $14.25 billion, a P/E ratio of 18.125 and a beta of 0.66.
Centene Corporation (NYSE:CNC) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.29. Centene Corporation had a net margin of 1.72% and a return on equity of 14.62%. The company had revenue of $11.95 billion for the quarter, compared to analyst estimates of $11.69 billion. During the same period in the prior year, the company posted $1.29 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts forecast that Centene Corporation will post $4.92 EPS for the current fiscal year.
In related news, Chairman Michael F. Neidorff sold 35,000 shares of the stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $80.26, for a total value of $2,809,100.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Mark J. Brooks sold 2,161 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $75.43, for a total transaction of $163,004.23. The disclosure for this sale can be found here. Insiders sold a total of 53,578 shares of company stock worth $4,264,757 over the last three months. 3.00% of the stock is currently owned by corporate insiders.
About Centene Corporation
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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