SunTrust Banks Comments on Centene Corp’s Q2 2018 Earnings (CNC)

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Centene Corp (NYSE:CNC) – SunTrust Banks issued their Q2 2018 earnings per share (EPS) estimates for shares of Centene in a research report issued on Monday, June 11th. SunTrust Banks analyst D. Macdonald anticipates that the company will post earnings per share of $1.77 for the quarter. SunTrust Banks also issued estimates for Centene’s Q3 2018 earnings at $1.79 EPS, Q4 2018 earnings at $1.32 EPS, FY2018 earnings at $7.05 EPS, Q1 2019 earnings at $2.39 EPS, Q2 2019 earnings at $2.25 EPS, Q3 2019 earnings at $2.11 EPS, Q4 2019 earnings at $1.55 EPS and FY2019 earnings at $8.30 EPS.

Several other equities analysts have also commented on the company. Morgan Stanley upped their target price on Centene from $126.00 to $127.00 and gave the company an “overweight” rating in a report on Wednesday, April 25th. Zacks Investment Research lowered Centene from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 10th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $125.00 target price on shares of Centene in a report on Monday, April 2nd. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Centene in a research report on Monday, March 26th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Centene currently has a consensus rating of “Buy” and a consensus price target of $116.20.

Centene opened at $123.50 on Thursday, Marketbeat reports. The company has a market cap of $25.02 billion, a PE ratio of 24.55, a P/E/G ratio of 1.18 and a beta of 0.76. Centene has a 52 week low of $77.83 and a 52 week high of $126.04. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, April 24th. The company reported $2.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.25. The company had revenue of $13.19 billion during the quarter, compared to analyst estimates of $13.33 billion. Centene had a return on equity of 15.69% and a net margin of 2.06%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 earnings per share.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNC. Focused Wealth Management Inc lifted its position in Centene by 900.0% in the fourth quarter. Focused Wealth Management Inc now owns 1,000 shares of the company’s stock worth $101,000 after purchasing an additional 900 shares during the period. Financial Gravity Companies Inc. acquired a new stake in Centene in the fourth quarter worth approximately $112,000. We Are One Seven LLC acquired a new stake in Centene in the fourth quarter worth approximately $114,000. Financial Gravity Wealth Inc. acquired a new stake in Centene in the first quarter worth approximately $114,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Centene in the fourth quarter worth approximately $145,000. Hedge funds and other institutional investors own 76.42% of the company’s stock.

In other Centene news, EVP Keith H. Williamson sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $110.00, for a total value of $110,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael F. Neidorff sold 250,000 shares of the company’s stock in a transaction that occurred on Thursday, April 26th. The stock was sold at an average price of $108.20, for a total value of $27,050,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 262,750 shares of company stock valued at $28,461,313. Insiders own 3.00% of the company’s stock.

Centene Company Profile

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. It operates through two segments, Managed Care and Specialty Services. The Managed Care segment offers health plan coverage to individuals through government subsidized programs, including Medicaid, the State children's health insurance program, long-term care, foster care, and dual eligible individual, as well as aged, blind, or disabled programs.

Earnings History and Estimates for Centene (NYSE:CNC)

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