Centene (CNC) Set to Announce Earnings on Friday

Centene (NYSE:CNC) is scheduled to release its earnings data before the market opens on Friday, April 26th. Analysts expect Centene to post earnings of $2.20 per share for the quarter. Centene has set its FY 2024 guidance at 6.700- EPS and its FY24 guidance at $6.70 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Centene (NYSE:CNC) last issued its earnings results on Tuesday, February 6th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $39.46 billion for the quarter, compared to analysts’ expectations of $36.16 billion. Centene had a return on equity of 14.26% and a net margin of 1.75%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share. On average, analysts expect Centene to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Centene Trading Up 0.5 %

Shares of CNC opened at $76.19 on Thursday. The stock’s 50-day moving average is $76.47 and its two-hundred day moving average is $74.75. The stock has a market cap of $40.75 billion, a PE ratio of 15.52, a P/E/G ratio of 0.94 and a beta of 0.38. Centene has a 12 month low of $60.83 and a 12 month high of $81.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.11 and a quick ratio of 1.11.

Insider Activity at Centene

In related news, Director Lori Jean Robinson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the sale, the director now directly owns 11,455 shares of the company’s stock, valued at $886,731.55. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, President Kenneth J. Fasola sold 12,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total value of $900,840.00. Following the completion of the sale, the president now directly owns 235,365 shares of the company’s stock, valued at $17,668,850.55. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lori Jean Robinson sold 10,000 shares of Centene stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the transaction, the director now owns 11,455 shares of the company’s stock, valued at $886,731.55. The disclosure for this sale can be found here. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on CNC shares. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 28th. Wells Fargo & Company boosted their price objective on Centene from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Barclays started coverage on Centene in a research note on Wednesday, March 6th. They set an “overweight” rating and a $101.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Centene in a research note on Thursday, April 4th. Finally, Stephens reaffirmed an “equal weight” rating and set a $85.00 target price (down from $92.00) on shares of Centene in a research report on Thursday, March 21st. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $85.38.

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.