WellCare Health Plans (WCG) Releases FY18 Earnings Guidance

WellCare Health Plans (NYSE:WCG) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $10.90-11.00 for the period, compared to the Thomson Reuters consensus estimate of $10.87. The company issued revenue guidance of $20-20.3 billion, compared to the consensus revenue estimate of $20.00 billion.WellCare Health Plans also updated its FY 2018 guidance to $10.90-11.00 EPS.

WCG traded down $9.38 during midday trading on Tuesday, hitting $282.12. 1,375,377 shares of the company’s stock traded hands, compared to its average volume of 552,557. The firm has a market cap of $13.24 billion, a PE ratio of 33.11, a PEG ratio of 1.77 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.27 and a current ratio of 1.27. WellCare Health Plans has a one year low of $180.30 and a one year high of $324.99.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Tuesday, October 30th. The company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.23. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. WellCare Health Plans had a net margin of 2.69% and a return on equity of 19.20%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.08 earnings per share. On average, sell-side analysts anticipate that WellCare Health Plans will post 10.83 earnings per share for the current fiscal year.



WCG has been the topic of several recent research reports. Argus raised their price objective on shares of WellCare Health Plans from $265.00 to $360.00 and gave the company a buy rating in a research report on Friday, August 31st. SunTrust Banks raised their price objective on shares of WellCare Health Plans to $315.00 and gave the company a buy rating in a research report on Wednesday, August 1st. Wells Fargo & Co reaffirmed a buy rating on shares of WellCare Health Plans in a research report on Tuesday, July 31st. Bank of America increased their price target on WellCare Health Plans from $260.00 to $270.00 and gave the company a buy rating in a report on Tuesday, July 24th. Finally, BMO Capital Markets set a $345.00 price target on WellCare Health Plans and gave the company a buy rating in a report on Friday, September 14th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $296.00.

About WellCare Health Plans

WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare PDPs. The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs and long-term services and supports for qualifying families who are not eligible for Medicaid.

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Earnings History and Estimates for WellCare Health Plans (NYSE:WCG)

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