Q4 2019 EPS Estimates for Centene Corp (CNC) Cut by Analyst

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Centene Corp (NYSE:CNC) – Stock analysts at Mitsubishi UFJ Financial Group cut their Q4 2019 earnings estimates for shares of Centene in a research note issued to investors on Thursday, February 7th. Mitsubishi UFJ Financial Group analyst J. Twizell now expects that the company will post earnings per share of $0.34 for the quarter, down from their prior estimate of $0.43. Mitsubishi UFJ Financial Group also issued estimates for Centene’s FY2021 earnings at $2.72 EPS.

Centene (NYSE:CNC) last posted its quarterly earnings results on Tuesday, February 5th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.05. Centene had a return on equity of 14.10% and a net margin of 1.50%. The business had revenue of $16.56 billion for the quarter, compared to analyst estimates of $16.38 billion. During the same period last year, the company earned $0.49 EPS. The firm’s revenue was up 29.3% on a year-over-year basis.

Several other research analysts have also issued reports on CNC. Leerink Swann upgraded Centene from a “market perform” rating to an “outperform” rating and set a $79.84 price target on the stock in a research report on Wednesday, October 24th. Zacks Investment Research raised Centene from a “sell” rating to a “hold” rating in a research note on Thursday, October 25th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $72.50 price objective on shares of Centene in a research note on Thursday, December 13th. Goldman Sachs Group downgraded Centene from a “conviction-buy” rating to a “buy” rating in a research note on Monday, December 17th. Finally, ValuEngine downgraded Centene from a “buy” rating to a “hold” rating in a research note on Monday, December 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $77.65.

NYSE:CNC opened at $61.95 on Monday. Centene has a 12-month low of $48.81 and a 12-month high of $74.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.03 and a current ratio of 1.00. The firm has a market capitalization of $25.83 billion, a PE ratio of 17.50, a P/E/G ratio of 1.11 and a beta of 1.32.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNC. Lindbrook Capital LLC acquired a new stake in shares of Centene in the 4th quarter valued at about $31,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of Centene in the 4th quarter valued at about $47,000. Exane Asset Management raised its stake in shares of Centene by 40.7% in the 4th quarter. Exane Asset Management now owns 678 shares of the company’s stock valued at $78,000 after purchasing an additional 196 shares during the period. Flagship Harbor Advisors LLC raised its stake in shares of Centene by 39.5% in the 4th quarter. Flagship Harbor Advisors LLC now owns 706 shares of the company’s stock valued at $81,000 after purchasing an additional 200 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Centene by 15,334.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,787,010 shares of the company’s stock valued at $85,000 after purchasing an additional 9,723,601 shares during the period. 93.34% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Mark J. Brooks sold 2,540 shares of the firm’s stock in a transaction on Tuesday, December 18th. The stock was sold at an average price of $121.26, for a total transaction of $308,000.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey A. Schwaneke sold 4,000 shares of Centene stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $125.00, for a total value of $500,000.00. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

About Centene

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.

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Earnings History and Estimates for Centene (NYSE:CNC)

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