Centene (NYSE:CNC) issued an update on its FY20 earnings guidance on Monday morning. The company provided EPS guidance of $4.76 to $4.96 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.88. Centene also updated its FY 2020
Pre-Market guidance to 4.76-4.96 EPS.
Shares of Centene stock opened at $59.90 on Thursday. The company has a market capitalization of $34.71 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 0.85 and a beta of 0.61. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. Centene has a 12-month low of $41.62 and a 12-month high of $74.70. The firm’s 50-day moving average price is $61.81 and its two-hundred day moving average price is $62.80.
Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.03). The firm had revenue of $27.71 billion for the quarter, compared to analyst estimates of $27.48 billion. Centene had a return on equity of 14.07% and a net margin of 1.70%. The company’s quarterly revenue was up 51.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.34 earnings per share. On average, sell-side analysts expect that Centene will post 4.88 earnings per share for the current year.
A number of research analysts have recently commented on the stock. Jefferies Financial Group dropped their target price on shares of Centene from $85.00 to $83.00 and set a buy rating for the company in a report on Wednesday, July 29th. SVB Leerink assumed coverage on shares of Centene in a report on Wednesday, July 1st. They issued an outperform rating and a $78.00 target price for the company. Oppenheimer assumed coverage on shares of Centene in a report on Friday, June 12th. They issued a buy rating and a $90.00 target price for the company. Deutsche Bank increased their target price on shares of Centene from $80.00 to $87.00 and gave the stock a buy rating in a report on Wednesday, July 29th. Finally, ValuEngine cut shares of Centene from a sell rating to a strong sell rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $82.92.
In other news, Director Tommy G. Thompson sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $64.13, for a total transaction of $96,195.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Orlando Ayala sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $63.87, for a total transaction of $1,916,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,127 shares of company stock valued at $8,146,586. Insiders own 1.90% of the company’s stock.
Centene Corporation operates as a diversified and multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. The company's Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term services and support, foster care, and medicare-medicaid plans, which covers dually eligible individuals, as well as aged, blind, or disabled programs.
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