WellCare Health Plans, Inc. (NYSE:WCG) Expected to Post Earnings of $4.15 Per Share

Brokerages forecast that WellCare Health Plans, Inc. (NYSE:WCG) will post $4.15 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for WellCare Health Plans’ earnings, with estimates ranging from $3.75 to $4.46. WellCare Health Plans reported earnings of $3.69 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.5%. The business is scheduled to issue its next quarterly earnings results on Tuesday, July 30th.

On average, analysts expect that WellCare Health Plans will report full year earnings of $14.00 per share for the current financial year, with EPS estimates ranging from $13.60 to $14.53. For the next year, analysts expect that the company will report earnings of $16.62 per share, with EPS estimates ranging from $15.62 to $18.40. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow WellCare Health Plans.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.59. WellCare Health Plans had a return on equity of 15.47% and a net margin of 2.17%. The business had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter last year, the firm posted $2.47 EPS. The company’s quarterly revenue was up 45.5% on a year-over-year basis.

WCG has been the topic of several recent research reports. Zacks Investment Research cut WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. ValuEngine cut WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. BMO Capital Markets cut WellCare Health Plans from an “outperform” rating to a “market perform” rating and set a $304.00 price objective on the stock. in a research report on Monday, June 3rd. Wells Fargo & Co lowered their price objective on WellCare Health Plans from $330.00 to $320.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. Finally, Credit Suisse Group assumed coverage on WellCare Health Plans in a research report on Monday, April 15th. They issued a “neutral” rating and a $307.00 price target on the stock. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $310.07.

Several hedge funds have recently made changes to their positions in the company. Clearbridge Investments LLC boosted its stake in shares of WellCare Health Plans by 169.4% during the first quarter. Clearbridge Investments LLC now owns 183,623 shares of the company’s stock valued at $49,532,000 after purchasing an additional 115,471 shares in the last quarter. Allstate Corp acquired a new stake in shares of WellCare Health Plans during the first quarter valued at about $239,000. Lombard Odier Asset Management USA Corp acquired a new stake in shares of WellCare Health Plans during the first quarter valued at about $7,014,000. BlueCrest Capital Management Ltd acquired a new stake in shares of WellCare Health Plans during the first quarter valued at about $869,000. Finally, Maverick Capital Ltd. acquired a new stake in shares of WellCare Health Plans during the first quarter valued at about $67,438,000. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

WellCare Health Plans stock traded down $0.33 during mid-day trading on Friday, hitting $286.68. 7,390 shares of the company’s stock traded hands, compared to its average volume of 959,311. WellCare Health Plans has a fifty-two week low of $220.63 and a fifty-two week high of $324.99. The company has a market capitalization of $14.42 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 1.41 and a beta of 1.02. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.28 and a quick ratio of 1.28.

About WellCare Health Plans

WellCare Health Plans, Inc provides government-sponsored managed care services. The company operates in three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare Prescription Drug Plans (PDPs). The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs and long-term services and supports programs for qualifying families who are not eligible for Medicaid.

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

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