Centene (NYSE:CNC) Updates FY19 Earnings Guidance

Centene (NYSE:CNC) updated its FY19 earnings guidance on Monday. The company provided earnings per share guidance of $4.29-4.49 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.42. The company issued revenue guidance of $73.6-75.2 billion, compared to the consensus revenue estimate of $74.18 billion.Centene also updated its FY20 guidance to $4.64 to $4.84 EPS.

Several analysts recently issued reports on the stock. Deutsche Bank dropped their price objective on shares of Centene from $62.00 to $60.00 and set a buy rating for the company in a research note on Wednesday, October 23rd. Zacks Investment Research cut shares of Centene from a hold rating to a sell rating and set a $50.00 price objective for the company. in a research note on Friday, October 18th. Piper Jaffray Companies reissued a buy rating and issued a $80.00 price target on shares of Centene in a research note on Monday, December 16th. Credit Suisse Group increased their price target on shares of Centene from $57.00 to $65.00 and gave the company a neutral rating in a research note on Wednesday, January 8th. Finally, Morgan Stanley dropped their price target on shares of Centene from $64.00 to $62.00 and set an overweight rating for the company in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. Centene currently has a consensus rating of Buy and a consensus price target of $71.31.

Centene stock opened at $64.78 on Thursday. The firm has a 50 day simple moving average of $61.55 and a 200-day simple moving average of $52.54. Centene has a 1-year low of $41.62 and a 1-year high of $69.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $26.14 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 0.92 and a beta of 0.91.

Centene (NYSE:CNC) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.01. The firm had revenue of $18.98 billion during the quarter, compared to analysts’ expectations of $18.39 billion. Centene had a net margin of 1.87% and a return on equity of 15.54%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company posted $1.79 EPS. Equities analysts expect that Centene will post 4.42 earnings per share for the current fiscal year.

In other Centene news, EVP Jesse N. Hunter sold 20,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $60.00, for a total transaction of $1,200,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael F. Neidorff sold 100,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $60.23, for a total transaction of $6,023,000.00. Following the sale, the chief executive officer now owns 6,913,390 shares in the company, valued at $416,393,479.70. The disclosure for this sale can be found here. Insiders have sold a total of 285,519 shares of company stock valued at $16,416,060 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

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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