Zacks: Analysts Expect Cerner Co. (CERN) to Announce $0.61 Earnings Per Share

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Wall Street brokerages predict that Cerner Co. (NASDAQ:CERN) will post earnings of $0.61 per share for the current quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for Cerner’s earnings, with estimates ranging from $0.59 to $0.67. Cerner also reported earnings of $0.61 per share during the same quarter last year. The business is scheduled to report its next earnings results on Thursday, July 26th.

According to Zacks, analysts expect that Cerner will report full year earnings of $2.51 per share for the current financial year, with EPS estimates ranging from $2.46 to $2.60. For the next financial year, analysts anticipate that the company will post earnings of $2.81 per share, with EPS estimates ranging from $2.68 to $3.00. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that that provide coverage for Cerner.

Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Wednesday, May 2nd. The company reported $0.58 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.58. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Cerner had a net margin of 16.50% and a return on equity of 15.80%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 EPS.

CERN has been the topic of a number of research reports. Bank of America initiated coverage on shares of Cerner in a research note on Tuesday, February 27th. They issued a “buy” rating and a $75.00 price objective on the stock. Cantor Fitzgerald reissued a “buy” rating and issued a $80.00 price objective on shares of Cerner in a research note on Monday, March 5th. BidaskClub raised shares of Cerner from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 8th. Stifel Nicolaus reissued a “hold” rating and issued a $71.00 price objective (up from $69.00) on shares of Cerner in a research note on Thursday, March 8th. Finally, Argus cut shares of Cerner from a “buy” rating to a “hold” rating and increased their price objective for the company from $54.49 to $64.65 in a research note on Tuesday, March 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. Cerner currently has an average rating of “Hold” and an average price target of $68.51.

Shares of Cerner opened at $59.81 on Friday, according to MarketBeat.com. The stock has a market capitalization of $20.26 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 1.93 and a beta of 0.96. Cerner has a 52 week low of $52.05 and a 52 week high of $73.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.93 and a current ratio of 2.95.

In other Cerner news, Vice Chairman Clifford W. Illig sold 45,000 shares of the company’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $60.63, for a total value of $2,728,350.00. Following the transaction, the insider now directly owns 1,229,719 shares in the company, valued at approximately $74,557,862.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman David Brent Shafer sold 13,348 shares of the company’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $61.36, for a total transaction of $819,033.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 275,848 shares of company stock worth $16,650,169. 4.71% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Icon Wealth Partners LLC purchased a new position in shares of Cerner during the 4th quarter worth about $107,000. MV Capital Management Inc. purchased a new position in shares of Cerner during the 1st quarter worth about $116,000. Delpha Capital Management LLC purchased a new position in shares of Cerner during the 4th quarter worth about $144,000. Archford Capital Strategies LLC purchased a new position in shares of Cerner during the 1st quarter worth about $181,000. Finally, Virtue Capital Management LLC purchased a new position in shares of Cerner during the 4th quarter worth about $197,000. Institutional investors and hedge funds own 77.72% of the company’s stock.

About Cerner

Cerner Corporation provides health care information technology solutions and 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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