Q2 2021 EPS Estimates for Centene Co. Reduced by Analyst (NYSE:CNC)

Centene Co. (NYSE:CNC) – Investment analysts at Truist Securiti decreased their Q2 2021 earnings estimates for shares of Centene in a research note issued to investors on Thursday, June 17th. Truist Securiti analyst D. Macdonald now anticipates that the company will earn $1.24 per share for the quarter, down from their prior forecast of $1.49. Truist Securiti also issued estimates for Centene’s Q3 2021 earnings at $1.25 EPS, FY2021 earnings at $5.15 EPS and FY2022 earnings at $5.76 EPS.

Centene (NYSE:CNC) last announced its quarterly earnings results on Monday, April 26th. The company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.04. The company had revenue of $29.96 billion during the quarter, compared to analyst estimates of $29.55 billion. Centene had a return on equity of 13.09% and a net margin of 2.14%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 earnings per share.

A number of other equities research analysts also recently commented on CNC. Citigroup lifted their target price on shares of Centene from $80.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, June 17th. Wells Fargo & Company lifted their price target on shares of Centene from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, June 17th. TheStreet raised shares of Centene from a “c+” rating to a “b-” rating in a research note on Thursday, April 1st. Oppenheimer reissued a “buy” rating and issued a $90.00 target price on shares of Centene in a report on Thursday, June 17th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on shares of Centene from $80.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, June 17th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Centene presently has an average rating of “Buy” and a consensus price target of $81.91.

CNC opened at $72.20 on Monday. The stock has a market cap of $42.07 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 1.18 and a beta of 0.47. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average of $68.96. Centene has a 1 year low of $53.60 and a 1 year high of $75.25.

In related news, Director Orlando Ayala sold 7,201 shares of the firm’s stock in a transaction dated Thursday, April 29th. The stock was sold at an average price of $60.00, for a total transaction of $432,060.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Brent D. Layton sold 7,682 shares of the stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $65.00, for a total value of $499,330.00. Following the sale, the executive vice president now directly owns 424,808 shares of the company’s stock, valued at $27,612,520. The disclosure for this sale can be found here. Insiders sold a total of 89,883 shares of company stock valued at $6,150,940 in the last quarter. Company insiders own 1.80% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Forsta AP Fonden lifted its position in Centene by 42.6% during the 1st quarter. Forsta AP Fonden now owns 135,800 shares of the company’s stock worth $8,679,000 after acquiring an additional 40,600 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Centene by 14.1% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 190,402 shares of the company’s stock worth $12,169,000 after buying an additional 23,529 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Centene by 5.6% in the first quarter. Handelsbanken Fonder AB now owns 137,277 shares of the company’s stock valued at $8,773,000 after purchasing an additional 7,338 shares in the last quarter. Barings LLC lifted its position in shares of Centene by 34.3% in the first quarter. Barings LLC now owns 5,715 shares of the company’s stock worth $366,000 after purchasing an additional 1,461 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Centene by 8.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 110,795 shares of the company’s stock worth $6,651,000 after acquiring an additional 8,554 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

About Centene

Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Its 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 cover dually eligible individuals, as well as aged, blind, or disabled programs.

Further Reading: Cost of Debt

Earnings History and Estimates for Centene (NYSE:CNC)

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