Zacks: Brokerages Anticipate Cerner Co. (NASDAQ:CERN) Will Announce Quarterly Sales of $1.40 Billion

Analysts expect Cerner Co. (NASDAQ:CERN) to report $1.40 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Cerner’s earnings, with the lowest sales estimate coming in at $1.39 billion and the highest estimate coming in at $1.42 billion. Cerner reported sales of $1.41 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 0.7%. The company is scheduled to announce its next quarterly earnings report on Tuesday, April 27th.

On average, analysts expect that Cerner will report full year sales of $5.83 billion for the current fiscal year, with estimates ranging from $5.75 billion to $5.86 billion. For the next fiscal year, analysts anticipate that the company will report sales of $6.15 billion, with estimates ranging from $5.98 billion to $6.24 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Cerner.

Cerner (NASDAQ:CERN) last announced its quarterly earnings results on Tuesday, February 9th. The company reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. Cerner had a return on equity of 18.14% and a net margin of 14.28%. The business’s revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS.

Several analysts recently issued reports on CERN shares. Bank of America downgraded Cerner from a “buy” rating to an “underperform” rating in a report on Tuesday, January 19th. Wells Fargo & Company raised their target price on Cerner from $81.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Canaccord Genuity raised their target price on Cerner from $81.00 to $89.00 and gave the company a “buy” rating in a research report on Thursday, January 7th. Piper Sandler raised their target price on Cerner from $84.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, February 16th. Finally, UBS Group cut Cerner from a “buy” rating to a “neutral” rating and set a $82.00 target price on the stock. in a research report on Thursday, February 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $79.37.

Shares of NASDAQ CERN traded down $0.88 during mid-day trading on Thursday, hitting $70.03. The company had a trading volume of 265,808 shares, compared to its average volume of 1,964,632. The stock has a market cap of $21.47 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 2.35 and a beta of 0.76. Cerner has a 12 month low of $53.08 and a 12 month high of $84.20. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 2.28. The firm’s 50 day simple moving average is $78.43 and its two-hundred day simple moving average is $74.55.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Newfound Research LLC acquired a new position in shares of Cerner in the 3rd quarter worth $27,000. CX Institutional grew its holdings in shares of Cerner by 79.1% in the 4th quarter. CX Institutional now owns 394 shares of the company’s stock worth $31,000 after acquiring an additional 174 shares during the last quarter. Cowa LLC acquired a new position in shares of Cerner in the 4th quarter worth $32,000. Addison Advisors LLC acquired a new position in shares of Cerner in the 4th quarter worth $33,000. Finally, Professional Financial Advisors LLC acquired a new stake in shares of Cerner in the third quarter worth $36,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

Cerner Company Profile

Cerner Corporation, together with its subsidiaries, provides health care information technology solutions and tech-enabled services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.

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