Why Centene Corporation (NYSE:CNC) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $81.41 on Centene Corporation (NYSE:CNC) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $4.37 for the next fiscal and $N/A for underway quarter.

Valuation Estimates

Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Centene Corporation (NYSE:CNC) stands at 26.48.

Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Centene Corporation Common Stoc, the PEG ratio for coming 3-5 years is 0.89.

Technical Analysis

The technical analysis highlights that Centene Corporation Common Stoc current is trading $-1.50 points away or -2.13% from its 50-day moving average of $70.12. Further it is trading $4.33 or +6.73% away its 200-day moving average of $64.29.

The 52-week high of Centene Corporation (NYSE:CNC) was $75.57 while lowest point recorded in 52-week was $47.36. It implies if stock price makes a movement of over $-6.95, it will record a new 52-week high. In the case of +44.89% drop, it will touch a new 52-week low.

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