Brokerages Expect Cerner Co. (CERN) Will Post Quarterly Sales of $1.39 Billion

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Equities research analysts expect Cerner Co. (NASDAQ:CERN) to announce sales of $1.39 billion for the current fiscal quarter, according to Zacks. Eleven analysts have issued estimates for Cerner’s earnings. The lowest sales estimate is $1.37 billion and the highest is $1.44 billion. Cerner posted sales of $1.29 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 7.8%. The company is expected to issue its next earnings report on Wednesday, May 1st.

On average, analysts expect that Cerner will report full-year sales of $5.75 billion for the current fiscal year, with estimates ranging from $5.67 billion to $5.86 billion. For the next year, analysts anticipate that the firm will report sales of $6.14 billion, with estimates ranging from $5.93 billion to $6.24 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Cerner.

Cerner (NASDAQ:CERN) last announced its quarterly earnings data on Tuesday, February 5th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. Cerner had a return on equity of 14.84% and a net margin of 11.74%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the business posted $0.58 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year.

Several analysts recently commented on CERN shares. Zacks Investment Research reaffirmed a “sell” rating on shares of Cerner in a report on Monday, December 31st. BidaskClub raised Cerner from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. Finally, Morgan Stanley lowered Cerner from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $68.00 to $47.00 in a report on Thursday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. Cerner has an average rating of “Hold” and a consensus price target of $67.00.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CERN. Adell Harriman & Carpenter Inc. lifted its position in Cerner by 0.6% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 31,427 shares of the company’s stock worth $1,648,000 after buying an additional 200 shares in the last quarter. Securian Asset Management Inc raised its position in Cerner by 0.7% in the fourth quarter. Securian Asset Management Inc now owns 34,031 shares of the company’s stock valued at $1,785,000 after purchasing an additional 248 shares during the period. Griffin Asset Management Inc. raised its position in Cerner by 2.5% in the third quarter. Griffin Asset Management Inc. now owns 10,400 shares of the company’s stock valued at $670,000 after purchasing an additional 250 shares during the period. Armstrong Henry H Associates Inc. raised its position in Cerner by 2.4% in the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,500 shares of the company’s stock valued at $551,000 after purchasing an additional 250 shares during the period. Finally, Motley Fool Wealth Management LLC raised its position in Cerner by 0.5% in the fourth quarter. Motley Fool Wealth Management LLC now owns 50,414 shares of the company’s stock valued at $2,644,000 after purchasing an additional 262 shares during the period. Institutional investors and hedge funds own 79.86% of the company’s stock.

Cerner stock traded up $0.77 during midday trading on Tuesday, hitting $57.91. 2,995,261 shares of the company were exchanged, compared to its average volume of 2,464,852. The firm has a market cap of $18.78 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.88 and a beta of 0.97. Cerner has a fifty-two week low of $48.78 and a fifty-two week high of $67.57. The company has a quick ratio of 2.38, a current ratio of 2.41 and a debt-to-equity ratio of 0.09.

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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