Analysts predict that Centene Corp (NYSE:CNC) will report $18.36 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Centene’s earnings, with estimates ranging from $17.85 billion to $18.58 billion. Centene posted sales of $16.18 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.5%. The company is expected to issue its next quarterly earnings report on Tuesday, October 22nd.

On average, analysts expect that Centene will report full-year sales of $73.55 billion for the current year, with estimates ranging from $72.76 billion to $73.99 billion. For the next financial year, analysts forecast that the business will report sales of $80.32 billion, with estimates ranging from $79.32 billion to $81.34 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Centene.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.10. Centene had a net margin of 1.84% and a return on equity of 15.87%. The company had revenue of $18.36 billion during the quarter, compared to analysts’ expectations of $18.02 billion. During the same period in the prior year, the company posted $0.90 earnings per share. Centene’s revenue for the quarter was up 29.4% compared to the same quarter last year.

A number of equities research analysts have commented on CNC shares. Citigroup upgraded shares of Centene from a “neutral” rating to a “buy” rating and set a $69.00 price target for the company in a report on Friday, May 10th. Morgan Stanley reduced their price target on shares of Centene from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Friday, July 12th. SunTrust Banks reduced their price target on shares of Centene to $80.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Zacks Investment Research cut shares of Centene from a “buy” rating to a “hold” rating and set a $59.00 price target for the company. in a report on Wednesday, May 29th. Finally, ValuEngine cut shares of Centene from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Centene presently has a consensus rating of “Buy” and a consensus target price of $75.26.

In other Centene news, Director Jessica L. Blume acquired 2,850 shares of the company’s stock in a transaction on Friday, July 26th. The shares were purchased at an average cost of $52.99 per share, with a total value of $151,021.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.50% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Centene during the 1st quarter worth approximately $27,000. Shamrock Asset Management LLC increased its holdings in shares of Centene by 100.0% in the 1st quarter. Shamrock Asset Management LLC now owns 522 shares of the company’s stock valued at $28,000 after acquiring an additional 261 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Centene in the 2nd quarter valued at about $30,000. Zions Bancorporation N.A. increased its holdings in shares of Centene by 131.5% in the 1st quarter. Zions Bancorporation N.A. now owns 602 shares of the company’s stock valued at $32,000 after acquiring an additional 342 shares during the last quarter. Finally, Camarda Financial Advisors LLC increased its holdings in shares of Centene by 112.5% in the 1st quarter. Camarda Financial Advisors LLC now owns 612 shares of the company’s stock valued at $32,000 after acquiring an additional 324 shares during the last quarter. 93.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CNC traded down $0.89 during trading hours on Monday, hitting $46.04. 145,187 shares of the stock were exchanged, compared to its average volume of 5,169,329. Centene has a fifty-two week low of $45.44 and a fifty-two week high of $74.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50-day moving average of $51.15 and a 200-day moving average of $56.76. The firm has a market capitalization of $19.37 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 0.76 and a beta of 0.83.

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. 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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Earnings History and Estimates for Centene (NYSE:CNC)

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