Centene Corp (CNC) Expected to Post Quarterly Sales of $16.35 Billion

Wall Street brokerages forecast that Centene Corp (NYSE:CNC) will report $16.35 billion in sales for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for Centene’s earnings. The highest sales estimate is $16.53 billion and the lowest is $15.89 billion. Centene reported sales of $12.81 billion in the same quarter last year, which indicates a positive year over year growth rate of 27.6%. The business is scheduled to report its next quarterly earnings report on Tuesday, February 5th.

On average, analysts expect that Centene will report full-year sales of $59.93 billion for the current year, with estimates ranging from $59.44 billion to $60.27 billion. For the next financial year, analysts anticipate that the firm will report sales of $69.94 billion, with estimates ranging from $69.27 billion to $70.95 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Centene.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, October 23rd. The company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.77 by $0.02. The firm had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.93 billion. Centene had a net margin of 1.58% and a return on equity of 14.42%. The business’s revenue was up 36.0% compared to the same quarter last year. During the same period last year, the firm posted $1.35 earnings per share.



Several research firms have commented on CNC. Credit Suisse Group lifted their price target on shares of Centene from $134.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 4th. Morgan Stanley lifted their price target on shares of Centene from $138.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 5th. Oppenheimer lifted their price target on shares of Centene from $146.00 to $158.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 2nd. MED lifted their price target on shares of Centene from $146.00 to $158.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research raised shares of Centene from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $151.67.

Shares of CNC stock traded up $1.10 during trading hours on Tuesday, hitting $125.99. 60,762 shares of the company’s stock were exchanged, compared to its average volume of 1,760,319. The company has a market capitalization of $26.13 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 1.20 and a beta of 0.82. Centene has a 12-month low of $90.07 and a 12-month high of $148.24. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.

In other Centene news, Director Robert K. Ditmore sold 15,000 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $145.06, for a total value of $2,175,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Keith H. Williamson sold 2,000 shares of the business’s stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $145.00, for a total value of $290,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,800 shares of company stock worth $4,957,590. 3.00% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of CNC. Commonwealth Equity Services LLC increased its holdings in shares of Centene by 209.6% during the first quarter. Commonwealth Equity Services LLC now owns 9,737 shares of the company’s stock worth $1,040,000 after buying an additional 6,592 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Centene by 16.2% during the first quarter. LPL Financial LLC now owns 21,903 shares of the company’s stock worth $2,341,000 after buying an additional 3,048 shares in the last quarter. Atlantic Trust Group LLC increased its holdings in shares of Centene by 27.2% during the first quarter. Atlantic Trust Group LLC now owns 36,238 shares of the company’s stock worth $3,873,000 after buying an additional 7,755 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Centene by 1.8% during the first quarter. Principal Financial Group Inc. now owns 515,596 shares of the company’s stock worth $55,102,000 after buying an additional 8,920 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of Centene by 2.5% during the first quarter. Allianz Asset Management GmbH now owns 821,446 shares of the company’s stock worth $87,787,000 after buying an additional 20,259 shares in the last quarter. 89.98% of the stock is owned by institutional investors and hedge funds.

About Centene

Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.

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