Equities research analysts forecast that Centene Corporation (NYSE:CNC) will post earnings per share (EPS) of $1.88 for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Centene’s earnings, with estimates ranging from $1.55 to $2.14. Centene posted earnings per share of $1.12 in the same quarter last year, which would suggest a positive year over year growth rate of 67.9%. The company is expected to report its next earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Centene will report full year earnings of $7.07 per share for the current fiscal year, with EPS estimates ranging from $5.85 to $7.30. For the next year, analysts anticipate that the business will post earnings of $8.13 per share, with EPS estimates ranging from $7.80 to $8.50. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Centene.
Centene (NYSE:CNC) last announced its earnings results on Tuesday, February 6th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Centene had a return on equity of 13.68% and a net margin of 1.71%. The company had revenue of $12.81 billion during the quarter, compared to analysts’ expectations of $12.25 billion. During the same period last year, the business posted $1.19 EPS. Centene’s revenue for the quarter was up 7.5% on a year-over-year basis.
Shares of Centene (CNC) traded down $1.07 during trading on Thursday, reaching $99.13. The company had a trading volume of 564,532 shares, compared to its average volume of 1,411,751. Centene has a 12 month low of $65.03 and a 12 month high of $112.42. The stock has a market cap of $17,394.67, a PE ratio of 21.20, a price-to-earnings-growth ratio of 0.97 and a beta of 0.71. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.68.
In related news, EVP Jesse N. Hunter sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $98.73, for a total transaction of $987,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert K. Ditmore sold 8,750 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $104.30, for a total value of $912,625.00. The disclosure for this sale can be found here. Insiders sold a total of 32,500 shares of company stock valued at $3,311,613 in the last quarter. Company insiders own 3.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB lifted its stake in Centene by 7.3% during the fourth quarter. Xact Kapitalforvaltning AB now owns 34,317 shares of the company’s stock worth $3,462,000 after purchasing an additional 2,329 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Centene by 7.0% during the fourth quarter. Handelsbanken Fonder AB now owns 190,500 shares of the company’s stock worth $19,218,000 after purchasing an additional 12,500 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Centene by 8.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 101,900 shares of the company’s stock worth $10,280,000 after purchasing an additional 7,731 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Centene by 4.0% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 98,733 shares of the company’s stock worth $9,960,000 after purchasing an additional 3,838 shares during the last quarter. Finally, We Are One Seven LLC purchased a new stake in Centene during the fourth quarter worth approximately $114,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.
Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.
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