Zacks Research Weighs in on Centene Co.’s FY2024 Earnings (NYSE:CNC)

Centene Co. (NYSE:CNC) – Equities research analysts at Zacks Research issued their FY2024 earnings estimates for Centene in a research report issued on Wednesday, August 14th. Zacks Research analyst K. Dey anticipates that the company will post earnings of $6.84 per share for the year. The consensus estimate for Centene’s current full-year earnings is $6.84 per share. Zacks Research also issued estimates for Centene’s Q4 2024 earnings at $0.55 EPS and FY2026 earnings at $8.31 EPS.

Centene (NYSE:CNC) last announced its earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). Centene had a net margin of 1.79% and a return on equity of 14.45%. The firm had revenue of $39.84 billion for the quarter, compared to analyst estimates of $36.83 billion. During the same period last year, the firm earned $2.10 earnings per share. Centene’s revenue for the quarter was up 5.9% compared to the same quarter last year.

A number of other research firms also recently issued reports on CNC. Truist Financial cut their target price on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Centene from $82.00 to $87.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Barclays increased their target price on shares of Centene from $101.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Robert W. Baird started coverage on Centene in a research note on Thursday, May 30th. They set a “neutral” rating and a $83.00 price target for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of Centene in a research report on Monday. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Centene presently has an average rating of “Moderate Buy” and a consensus target price of $84.36.

Centene Trading Down 0.2 %

Shares of NYSE CNC opened at $78.16 on Monday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. Centene has a one year low of $60.83 and a one year high of $81.42. The business has a 50-day moving average price of $70.43 and a two-hundred day moving average price of $73.78. The firm has a market capitalization of $41.71 billion, a PE ratio of 15.54, a PEG ratio of 1.00 and a beta of 0.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CNC. Rise Advisors LLC bought a new stake in shares of Centene during the first quarter worth $25,000. WR Wealth Planners LLC lifted its position in Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after purchasing an additional 137 shares during the period. Chris Bulman Inc bought a new position in shares of Centene in the 2nd quarter valued at about $33,000. Riverview Trust Co raised its stake in shares of Centene by 154.6% during the second quarter. Riverview Trust Co now owns 527 shares of the company’s stock worth $35,000 after buying an additional 320 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Centene in the second quarter valued at approximately $36,000. Institutional investors own 93.63% of the company’s stock.

Centene Company Profile

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.