Centene (CNC) Posts Earnings Results, Beats Expectations By $0.03 EPS

Centene (NYSE:CNC) released its quarterly earnings data on Tuesday. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03, Bloomberg Earnings reports. The firm had revenue of $12.81 billion during the quarter, compared to analyst estimates of $12.25 billion. Centene had a return on equity of 13.68% and a net margin of 1.71%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Centene updated its FY18 guidance to $6.95-7.35 EPS.

Shares of Centene (NYSE CNC) opened at $104.38 on Thursday. Centene has a 52 week low of $65.03 and a 52 week high of $112.42. The company has a market capitalization of $17,889.97, a price-to-earnings ratio of 22.26, a P/E/G ratio of 1.04 and a beta of 0.71. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.68.

In other Centene news, Director Robert K. Ditmore sold 8,750 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was 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 accessible through this link. Also, EVP Jesse N. Hunter sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $98.73, for a total value of $987,300.00. The disclosure for this sale can be found here. Insiders sold 23,750 shares of company stock valued at $2,400,475 in the last ninety days. 3.00% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. New Mexico Educational Retirement Board lifted its position in Centene by 3.8% during the fourth quarter. New Mexico Educational Retirement Board now owns 16,600 shares of the company’s stock valued at $1,675,000 after buying an additional 600 shares during the period. Carnick & Kubik Group LLC purchased a new position in Centene during the fourth quarter valued at $3,622,000. Pegasus Partners Ltd. lifted its position in Centene by 39.3% during the fourth quarter. Pegasus Partners Ltd. now owns 17,257 shares of the company’s stock valued at $1,741,000 after buying an additional 4,870 shares during the period. Penserra Capital Management LLC lifted its position in Centene by 211.0% during the fourth quarter. Penserra Capital Management LLC now owns 54,568 shares of the company’s stock valued at $5,504,000 after buying an additional 37,023 shares during the period. Finally, AGF Investments Inc. purchased a new position in Centene during the fourth quarter valued at $49,577,000. 92.41% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on CNC. Morgan Stanley increased their price objective on Centene from $118.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday. ValuEngine raised Centene from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Goldman Sachs Group assumed coverage on Centene in a research note on Wednesday, January 3rd. They set a “buy” rating and a $135.00 price objective for the company. Credit Suisse Group raised their price target on Centene from $110.00 to $112.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $111.00 price target on shares of Centene in a research note on Friday, December 15th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Centene has a consensus rating of “Buy” and an average target price of $108.63.

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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 for Centene (NYSE:CNC)

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