Centene (CNC) Scheduled to Post Quarterly Earnings on Friday

Centene (NYSE:CNC) is scheduled to be announcing its earnings results before the market opens on Friday, July 26th. Analysts expect the company to announce earnings of $1.91 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Centene (NYSE:CNC) last issued its quarterly earnings results on Friday, April 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.17. Centene had a return on equity of 14.19% and a net margin of 1.76%. The firm had revenue of $40.41 billion during the quarter, compared to analyst estimates of $36.43 billion. During the same period last year, the company earned $2.11 EPS. Centene’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, analysts expect Centene to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Centene Price Performance

Shares of CNC stock opened at $66.11 on Thursday. Centene has a 52-week low of $60.83 and a 52-week high of $81.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market capitalization of $35.28 billion, a P/E ratio of 13.14, a P/E/G ratio of 0.85 and a beta of 0.50. The stock has a 50 day moving average price of $69.33 and a 200 day moving average price of $73.83.

Insider Activity

In related news, President Kenneth J. Fasola sold 8,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $77.62, for a total transaction of $620,960.00. Following the transaction, the president now directly owns 300,357 shares in the company, valued at approximately $23,313,710.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, President Kenneth J. Fasola sold 8,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $77.62, for a total transaction of $620,960.00. Following the transaction, the president now directly owns 300,357 shares in the company, valued at approximately $23,313,710.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christopher J. Coughlin sold 878 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $76.75, for a total value of $67,386.50. Following the transaction, the director now owns 25,504 shares in the company, valued at $1,957,432. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CNC shares. Oppenheimer reissued an “outperform” rating and set a $110.00 price target on shares of Centene in a research note on Friday, June 21st. Stephens restated an “equal weight” rating and set a $83.00 price objective on shares of Centene in a report on Thursday, May 30th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Centene in a report on Tuesday. JPMorgan Chase & Co. reduced their price objective on Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Jefferies Financial Group downgraded Centene from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $83.00 to $69.00 in a report on Wednesday. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Centene has an average rating of “Hold” and a consensus price target of $83.93.

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.