Centene (CNC) Posts Quarterly Earnings Results, Beats Estimates By $0.25 EPS

Centene (NYSE:CNC) issued its earnings results on Tuesday. The company reported $2.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.25, Bloomberg Earnings reports. The company had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $13.33 billion. Centene had a return on equity of 13.68% and a net margin of 1.71%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 EPS. Centene updated its FY18 guidance to $6.75-7.15 EPS.

Centene stock opened at $107.74 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.68. Centene has a 52 week low of $71.30 and a 52 week high of $113.88. The firm has a market cap of $19,379.89, a PE ratio of 21.42, a price-to-earnings-growth ratio of 1.05 and a beta of 0.75.

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Several research firms recently weighed in on CNC. Leerink Swann reissued a “market perform” rating and set a $90.00 price target (down from $100.00) on shares of Centene in a report on Tuesday, February 13th. Credit Suisse Group lifted their price target on Centene from $110.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. ValuEngine raised Centene from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research cut Centene from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 10th. Finally, BMO Capital Markets reissued a “buy” rating on shares of Centene in a report on Monday, March 26th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $110.28.

In other Centene news, EVP Christopher D. Bowers sold 4,800 shares of the company’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $102.27, for a total value of $490,896.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert K. Ditmore sold 8,750 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $104.13, for a total value of $911,137.50. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Focused Wealth Management Inc boosted its position in shares of Centene by 900.0% during the 4th quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock valued at $101,000 after purchasing an additional 900 shares in the last quarter. Financial Gravity Companies Inc. bought a new stake in shares of Centene during the 4th quarter valued at about $112,000. We Are One Seven LLC bought a new stake in shares of Centene during the 4th quarter valued at about $114,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Centene during the 4th quarter valued at about $131,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Centene during the 4th quarter valued at about $145,000. Institutional investors own 90.58% of the company’s stock.

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Centene Company Profile

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. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.

Earnings History for Centene (NYSE:CNC)

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