Oppenheimer Weighs in on Centene Corporation’s Q4 2019 Earnings (CNC)

Centene Corporation (NYSE:CNC) – Investment analysts at Oppenheimer issued their Q4 2019 earnings estimates for Centene in a research report issued to clients and investors on Tuesday. Oppenheimer analyst M. Wiederhorn expects that the company will earn $1.53 per share for the quarter. Oppenheimer currently has a “Outperform” rating and a $122.00 price objective on the stock.

CNC has been the subject of several other reports. Goldman Sachs Group began coverage on shares of Centene in a research note on Wednesday, January 3rd. They set a “buy” rating and a $135.00 price objective for the company. Zacks Investment Research upgraded shares of Centene from a “hold” rating to a “strong-buy” rating and set a $117.00 price objective for the company in a research note on Tuesday, December 26th. BMO Capital Markets began coverage on shares of Centene in a research note on Tuesday, October 17th. They set an “outperform” rating and a $120.00 price objective for the company. Cantor Fitzgerald reiterated a “buy” rating and set a $107.00 price objective on shares of Centene in a research note on Tuesday, October 24th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $134.00 price objective on shares of Centene in a research note on Monday, December 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Centene has a consensus rating of “Buy” and a consensus target price of $104.21.

Centene (NYSE:CNC) traded down $0.33 on Thursday, reaching $110.67. 1,236,893 shares of the company’s stock traded hands, compared to its average volume of 1,390,000. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. Centene has a 12 month low of $61.37 and a 12 month high of $111.95. The stock has a market capitalization of $19,100.00, a P/E ratio of 22.87, a P/E/G ratio of 1.37 and a beta of 0.70.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.11. Centene had a net margin of 1.81% and a return on equity of 14.79%. The company had revenue of $11.90 billion during the quarter, compared to the consensus estimate of $11.75 billion. During the same period in the previous year, the firm earned $1.12 earnings per share. Centene’s revenue for the quarter was up 9.7% on a year-over-year basis.

In other news, EVP Keith H. Williamson sold 5,000 shares of the business’s 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert K. Ditmore sold 8,750 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $104.30, for a total transaction of $912,625.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,917 shares of company stock worth $2,777,255. Corporate insiders own 3.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. raised its holdings in Centene by 47.8% in the third quarter. Ameriprise Financial Inc. now owns 5,181,047 shares of the company’s stock valued at $502,999,000 after acquiring an additional 1,676,688 shares in the last quarter. Vanguard Group Inc. raised its holdings in Centene by 4.9% in the second quarter. Vanguard Group Inc. now owns 16,726,500 shares of the company’s stock valued at $1,336,113,000 after acquiring an additional 774,474 shares in the last quarter. Epoch Investment Partners Inc. raised its holdings in Centene by 298.0% in the third quarter. Epoch Investment Partners Inc. now owns 997,346 shares of the company’s stock valued at $96,513,000 after acquiring an additional 746,783 shares in the last quarter. Numeric Investors LLC raised its holdings in Centene by 270.1% in the second quarter. Numeric Investors LLC now owns 1,001,500 shares of the company’s stock valued at $80,000,000 after acquiring an additional 730,900 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Centene by 68.2% in the fourth quarter. Acadian Asset Management LLC now owns 1,239,278 shares of the company’s stock valued at $125,021,000 after acquiring an additional 502,329 shares in the last quarter. 92.16% of the stock is currently owned by institutional investors and hedge funds.

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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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