$0.73 Earnings Per Share Expected for Centene Corp (NYSE:CNC) This Quarter

Equities research analysts predict that Centene Corp (NYSE:CNC) will announce earnings of $0.73 per share for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Centene’s earnings, with the highest EPS estimate coming in at $0.77 and the lowest estimate coming in at $0.67. Centene posted earnings per share of $0.69 during the same quarter last year, which would indicate a positive year over year growth rate of 5.8%. The business is expected to report its next quarterly earnings report on Tuesday, February 4th.

According to Zacks, analysts expect that Centene will report full year earnings of $4.42 per share for the current fiscal year, with EPS estimates ranging from $4.35 to $4.45. For the next financial year, analysts expect that the company will report earnings of $4.84 per share, with EPS estimates ranging from $4.64 to $5.03. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Centene.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $18.98 billion during the quarter, compared to analysts’ expectations of $18.39 billion. Centene had a return on equity of 15.54% and a net margin of 1.87%. Centene’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.79 earnings per share.

A number of brokerages recently commented on CNC. Morgan Stanley dropped their price target on Centene from $64.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, September 26th. Deutsche Bank decreased their price objective on Centene from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Credit Suisse Group decreased their price objective on Centene from $63.00 to $57.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. ValuEngine upgraded Centene from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research cut Centene from a “hold” rating to a “sell” rating and set a $50.00 price objective on the stock. in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $70.05.

NYSE:CNC traded down $0.81 during mid-day trading on Monday, hitting $57.71. 6,230,462 shares of the company traded hands, compared to its average volume of 3,933,015. The stock’s fifty day moving average price is $56.41 and its 200-day moving average price is $51.32. Centene has a one year low of $41.62 and a one year high of $69.25. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a market cap of $24.27 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 0.93 and a beta of 0.90.

In other Centene news, Director Robert K. Ditmore sold 49,019 shares of Centene stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.01, for a total transaction of $2,451,440.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael F. Neidorff sold 100,000 shares of Centene stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.23, for a total value of $6,023,000.00. Following the transaction, the chief executive officer now owns 6,913,390 shares of the company’s stock, valued at approximately $416,393,479.70. The disclosure for this sale can be found here. Insiders sold a total of 244,019 shares of company stock valued at $13,949,440 in the last 90 days. 2.50% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Centene by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 42,806,796 shares of the company’s stock worth $2,244,788,000 after buying an additional 539,794 shares during the last quarter. Viking Global Investors LP boosted its holdings in shares of Centene by 233.3% during the 2nd quarter. Viking Global Investors LP now owns 13,994,550 shares of the company’s stock worth $733,874,000 after purchasing an additional 9,795,824 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in shares of Centene by 18.3% during the 3rd quarter. Maverick Capital Ltd. now owns 7,244,461 shares of the company’s stock worth $313,395,000 after purchasing an additional 1,121,153 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Centene by 91.2% during the 2nd quarter. Invesco Ltd. now owns 6,368,307 shares of the company’s stock worth $333,956,000 after purchasing an additional 3,037,351 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of Centene by 111.8% during the 2nd quarter. Boston Partners now owns 4,976,011 shares of the company’s stock worth $260,985,000 after purchasing an additional 2,626,873 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

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. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.

Featured Article: How do taxes affect a CDs total return?

Get a free copy of the Zacks research report on Centene (CNC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.