Centene (CNC) Set to Announce Quarterly Earnings on Friday

Centene (NYSE:CNC) is scheduled to be releasing its earnings data before the market opens on Friday, April 26th. Analysts expect Centene to post earnings of $2.20 per share for the quarter. Centene has set its FY 2024 guidance at 6.700- EPS and its FY24 guidance at $6.70 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, February 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. Centene had a net margin of 1.75% and a return on equity of 14.26%. The business had revenue of $39.46 billion during the quarter, compared to analysts’ expectations of $36.16 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts expect Centene to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Centene Trading Up 0.3 %

Shares of Centene stock opened at $75.84 on Wednesday. The company has a fifty day simple moving average of $76.50 and a 200-day simple moving average of $74.74. Centene has a 12-month low of $60.83 and a 12-month high of $81.42. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.68. The stock has a market cap of $40.57 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 0.93 and a beta of 0.38.

Insider Transactions at Centene

In other news, Director Lori Jean Robinson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the sale, the director now owns 11,455 shares in the company, valued at approximately $886,731.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Lori Jean Robinson sold 10,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the transaction, the director now owns 11,455 shares in the company, valued at approximately $886,731.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Kenneth J. Fasola sold 12,000 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $75.07, for a total transaction of $900,840.00. Following the completion of the transaction, the president now owns 235,365 shares of the company’s stock, valued at approximately $17,668,850.55. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CNC shares. Barclays started coverage on shares of Centene in a report on Wednesday, March 6th. They issued an “overweight” rating and a $101.00 target price for the company. StockNews.com cut shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 28th. Stephens reiterated an “equal weight” rating and set a $85.00 price target (down previously from $92.00) on shares of Centene in a research note on Thursday, March 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price target on shares of Centene in a research note on Thursday, April 4th. Finally, Wells Fargo & Company increased their price target on shares of Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.38.

About Centene

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.