Oppenheimer Comments on Centene Corporation’s Q4 2019 Earnings (CNC)

Centene Corporation (NYSE:CNC) – Investment analysts at Oppenheimer issued their Q4 2019 earnings per share (EPS) estimates for Centene in a research report issued to clients and investors on Tuesday. Oppenheimer analyst M. Wiederhorn anticipates that the company will post earnings per share of $1.53 for the quarter. Oppenheimer has a “Outperform” rating and a $122.00 price target on the stock.

Centene (NYSE:CNC) last posted its earnings results on Tuesday, October 24th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.11. The firm had revenue of $11.90 billion during 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 company’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $1.12 earnings per share.

Several other equities analysts also recently weighed in on CNC. ValuEngine upgraded shares of Centene from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Goldman Sachs Group began coverage on shares of Centene in a research note on Wednesday, January 3rd. They issued a “buy” rating and a $135.00 target price for the company. BMO Capital Markets assumed coverage on shares of Centene in a research note on Tuesday, October 17th. They issued an “outperform” rating and a $120.00 target price for the company. Cantor Fitzgerald restated a “buy” rating and issued a $107.00 price objective on shares of Centene in a research report on Tuesday, October 24th. Finally, Morgan Stanley raised their price objective on shares of Centene from $94.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Centene currently has a consensus rating of “Buy” and a consensus price target of $104.21.

Centene (NYSE CNC) traded down $0.35 on Thursday, hitting $111.00. 1,078,375 shares of the stock traded hands, compared to its average volume of 1,400,000. The stock has a market capitalization of $19,150.00, a P/E ratio of 22.93, a price-to-earnings-growth ratio of 1.35 and a beta of 0.70. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.99 and a quick ratio of 0.99. Centene has a 52-week low of $61.37 and a 52-week high of $111.76.

In other Centene news, Director Robert K. Ditmore sold 8,750 shares of Centene stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $104.30, for a total transaction of $912,625.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jesse N. Hunter sold 10,000 shares of Centene stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $98.73, for a total transaction of $987,300.00. The disclosure for this sale can be found here. Insiders sold 27,917 shares of company stock valued at $2,777,255 over the last 90 days. 3.00% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Mckinley Capital Management LLC Delaware bought a new stake in Centene during the second quarter valued at approximately $101,000. Baldwin Brothers Inc. MA bought a new stake in Centene during the third quarter valued at approximately $185,000. Calamos Advisors LLC bought a new stake in Centene during the third quarter valued at approximately $207,000. Commerzbank Aktiengesellschaft FI bought a new stake in Centene during the third quarter valued at approximately $207,000. Finally, Brown Advisory Inc. bought a new stake in Centene during the third quarter valued at approximately $226,000. Institutional investors and hedge funds own 92.16% of the company’s stock.

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Centene Company Profile

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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