Zacks: Brokerages Anticipate WellCare Health Plans, Inc. (WCG) Will Post Earnings of $0.23 Per Share

Equities analysts expect that WellCare Health Plans, Inc. (NYSE:WCG) will report $0.23 earnings per share (EPS) for the current quarter, according to Zacks. Six analysts have made estimates for WellCare Health Plans’ earnings, with estimates ranging from $0.12 to $0.69. WellCare Health Plans reported earnings of $1.03 per share during the same quarter last year, which indicates a negative year over year growth rate of 77.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 6th.

On average, analysts expect that WellCare Health Plans will report full year earnings of $8.44 per share for the current year, with EPS estimates ranging from $8.33 to $8.91. For the next year, analysts expect that the company will report earnings of $8.63 per share, with EPS estimates ranging from $8.05 to $9.71. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow WellCare Health Plans.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $4.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.90 by $2.18. WellCare Health Plans had a net margin of 2.21% and a return on equity of 19.42%. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. The firm’s quarterly revenue was up 22.8% on a year-over-year basis.

A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $221.00 price target for the company in a report on Thursday, November 2nd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $214.00 price target on shares of WellCare Health Plans in a report on Wednesday, November 1st. Mitsubishi UFJ Financial Group assumed coverage on shares of WellCare Health Plans in a report on Thursday, September 21st. They set an “overweight” rating and a $204.00 price target for the company. ValuEngine raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Jefferies Group upped their price target on shares of WellCare Health Plans from $190.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, November 1st. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. WellCare Health Plans currently has a consensus rating of “Hold” and a consensus price target of $200.20.

In related news, Director Carol Burt sold 997 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $202.20, for a total value of $201,593.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. acquired a new position in WellCare Health Plans in the 3rd quarter valued at approximately $103,000. Advisory Services Network LLC increased its position in WellCare Health Plans by 8.4% in the 2nd quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock valued at $155,000 after acquiring an additional 67 shares during the period. Harvest Fund Management Co. Ltd increased its position in WellCare Health Plans by 29.3% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 1,318 shares of the company’s stock valued at $237,000 after acquiring an additional 299 shares during the period. CIBC Asset Management Inc acquired a new position in WellCare Health Plans in the 2nd quarter valued at approximately $251,000. Finally, Zweig DiMenna Associates LLC acquired a new position in WellCare Health Plans in the 2nd quarter valued at approximately $287,000. 99.91% of the stock is owned by institutional investors and hedge funds.

Shares of WellCare Health Plans (WCG) opened at $201.65 on Friday. WellCare Health Plans has a twelve month low of $133.21 and a twelve month high of $213.97. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. The firm has a market cap of $9,038.32, a P/E ratio of 21.97, a PEG ratio of 1.57 and a beta of 0.82.

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About WellCare Health Plans

WellCare Health Plans, Inc is a managed care company. The Company focuses on government-sponsored managed care services, primarily through Medicaid, Medicare Advantage (MA) and Medicare Prescription Drug Plans (PDPs), to families, children, seniors and individuals with medical needs. The Company operates through three segments: Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.

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Earnings History and Estimates for WellCare Health Plans (NYSE:WCG)

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