Svb Leerink Research Analysts Increase Earnings Estimates for Centene Corp (CNC)

Centene Corp (NYSE:CNC) – Research analysts at Svb Leerink raised their Q1 2019 EPS estimates for Centene in a note issued to investors on Monday, April 15th. Svb Leerink analyst A. Gupte now forecasts that the company will post earnings of $1.35 per share for the quarter, up from their prior forecast of $1.32. Svb Leerink also issued estimates for Centene’s Q2 2019 earnings at $1.25 EPS, FY2019 earnings at $4.25 EPS and FY2020 earnings at $4.91 EPS.

Centene (NYSE:CNC) last released its earnings results on Tuesday, February 5th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.05. Centene had a return on equity of 14.10% and a net margin of 1.50%. The firm had revenue of $16.56 billion for the quarter, compared to analysts’ expectations of $16.38 billion. During the same quarter in the previous year, the business posted $0.49 earnings per share. The business’s revenue for the quarter was up 29.3% on a year-over-year basis.

A number of other research analysts have also recently issued reports on CNC. Zacks Investment Research cut Centene from a “strong-buy” rating to a “hold” rating in a research report on Monday. Cowen restated a “buy” rating and set a $77.00 price target on shares of Centene in a report on Sunday, March 31st. ValuEngine cut Centene from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Credit Suisse Group reduced their price target on Centene from $76.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, March 29th. Finally, Argus cut Centene to a “hold” rating in a report on Friday, March 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $76.87.

Centene stock opened at $53.22 on Tuesday. Centene has a 12-month low of $49.56 and a 12-month high of $74.49. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $21.87 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 0.94 and a beta of 1.26.

In related news, EVP Christopher D. Bowers sold 9,200 shares of Centene stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $65.01, for a total value of $598,092.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.50% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Lindbrook Capital LLC acquired a new position in shares of Centene in the fourth quarter worth approximately $31,000. Bessemer Group Inc. lifted its position in shares of Centene by 140.7% in the fourth quarter. Bessemer Group Inc. now owns 349 shares of the company’s stock worth $41,000 after buying an additional 204 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of Centene in the fourth quarter worth about $47,000. Huntington National Bank increased its stake in Centene by 110.7% during the first quarter. Huntington National Bank now owns 472 shares of the company’s stock worth $25,000 after acquiring an additional 248 shares during the last quarter. Finally, Toth Financial Advisory Corp increased its stake in Centene by 100.0% during the first quarter. Toth Financial Advisory Corp now owns 480 shares of the company’s stock worth $25,000 after acquiring an additional 240 shares during the last quarter. 45.57% of the stock is currently owned by institutional investors.

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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