Centene (CNC) Releases FY18 Earnings Guidance

Centene (NYSE:CNC) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.47-5.87 for the period, compared to the Thomson Reuters consensus estimate of $5.49. The company issued revenue guidance of $60-60.8 billion, compared to the consensus revenue estimate of $51.91 billion.Centene also updated its FY17 guidance to $4.86-5.04 EPS.

Several research analysts recently commented on the stock. Cowen reiterated an outperform rating and set a $105.00 price objective (up previously from $77.00) on shares of Centene in a research note on Wednesday, September 13th. Cantor Fitzgerald boosted their price objective on shares of Centene to $107.00 and gave the stock an overweight rating in a research note on Wednesday, September 13th. BidaskClub upgraded shares of Centene from a hold rating to a buy rating in a research note on Thursday, August 24th. Piper Jaffray Companies reiterated a buy rating and set a $105.00 price objective on shares of Centene in a research note on Friday, September 1st. Finally, BMO Capital Markets assumed coverage on shares of Centene in a research note on Tuesday, October 17th. They set an outperform rating and a $120.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $99.11.

Shares of Centene (CNC) opened at $99.02 on Friday. The company has a market cap of $17,462.00, a price-to-earnings ratio of 19.27, a PEG ratio of 1.54 and a beta of 0.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71. Centene has a twelve month low of $54.40 and a twelve month high of $103.15.

Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.24 by $0.11. The business had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.75 billion. Centene had a net margin of 1.81% and a return on equity of 14.79%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS. sell-side analysts predict that Centene will post 4.98 earnings per share for the current fiscal year.

In other news, Director Robert K. Ditmore sold 4,167 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $90.42, for a total value of $376,780.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by corporate insiders.

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About Centene

Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.

Earnings History and Estimates for Centene (NYSE:CNC)

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