Centene (CNC) Set to Announce Quarterly Earnings on Friday

Centene (NYSE:CNC) will post its quarterly earnings results before the market opens on Friday, April 26th. Analysts expect Centene to post earnings of $2.20 per share for the quarter. Centene has set its FY 2024 guidance at 6.700- EPS and its FY24 guidance at $6.70 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Centene (NYSE:CNC) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. Centene had a return on equity of 14.26% and a net margin of 1.75%. The firm had revenue of $39.46 billion during the quarter, compared to the consensus estimate of $36.16 billion. During the same period in the prior year, the business earned $0.86 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts expect Centene to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Centene Stock Up 0.3 %

CNC opened at $75.84 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.11 and a current ratio of 1.11. The business has a 50 day moving average price of $76.50 and a 200 day moving average price of $74.74. The firm has a market cap of $40.57 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 0.93 and a beta of 0.38. Centene has a twelve month low of $60.83 and a twelve month high of $81.42.

Insider Activity at Centene

In other Centene news, President Kenneth J. Fasola sold 12,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total transaction of $900,840.00. Following the sale, the president now owns 235,365 shares in the company, valued at $17,668,850.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, President Kenneth J. Fasola sold 12,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $75.07, for a total value of $900,840.00. Following the sale, the president now owns 235,365 shares in the company, valued at $17,668,850.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lori Jean Robinson sold 10,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $77.41, for a total value of $774,100.00. Following the completion of the sale, the director now owns 11,455 shares in the company, valued at approximately $886,731.55. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CNC shares. Stephens reissued an “equal weight” rating and issued a $85.00 target price (down previously from $92.00) on shares of Centene in a research note on Thursday, March 21st. Wells Fargo & Company raised their price objective on Centene from $89.00 to $93.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Barclays started coverage on Centene in a research note on Wednesday, March 6th. They set an “overweight” rating and a $101.00 price objective on the stock. StockNews.com lowered Centene from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 28th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Centene in a research report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.38.

About Centene

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support.