Zacks: Analysts Expect Centene Corporation (CNC) Will Post Quarterly Sales of $12.26 Billion
Equities research analysts expect Centene Corporation (NYSE:CNC) to post sales of $12.26 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Centene’s earnings, with the lowest sales estimate coming in at $11.94 billion and the highest estimate coming in at $12.64 billion. Centene reported sales of $11.91 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.9%. The business is scheduled to report its next earnings report on Tuesday, February 6th.
According to Zacks, analysts expect that Centene will report full-year sales of $12.26 billion for the current financial year, with estimates ranging from $47.56 billion to $48.21 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $51.55 billion per share, with estimates ranging from $51.01 billion to $52.52 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Centene.
Centene (NYSE:CNC) last released its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.11. Centene had a net margin of 1.81% and a return on equity of 14.79%. The company had revenue of $11.90 billion during the quarter, compared to analyst estimates of $11.75 billion. During the same period last year, the business earned $1.12 earnings per share. Centene’s revenue was up 9.7% compared to the same quarter last year.
Shares of Centene (NYSE:CNC) traded down $0.99 on Thursday, reaching $101.10. 1,350,000 shares of the company were exchanged, compared to its average volume of 1,470,000. The stock has a market capitalization of $17,450.00, a P/E ratio of 19.26, a P/E/G ratio of 1.54 and a beta of 0.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.99 and a quick ratio of 0.99. Centene has a 1-year low of $54.40 and a 1-year high of $102.99.
In related news, Director Robert K. Ditmore sold 4,167 shares of Centene stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $90.42, for a total value of $376,780.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CNC. Arrowstreet Capital Limited Partnership bought a new stake in shares of Centene during the 2nd quarter valued at $455,000. Columbus Circle Investors purchased a new position in shares of Centene in the 3rd quarter worth about $9,387,000. Handelsbanken Fonder AB raised its position in shares of Centene by 29.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 178,000 shares of the company’s stock worth $17,225,000 after purchasing an additional 40,000 shares during the last quarter. Artemis Investment Management LLP purchased a new position in shares of Centene in the 2nd quarter worth about $15,326,000. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Centene by 28.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 788,573 shares of the company’s stock worth $62,992,000 after purchasing an additional 176,403 shares during the last quarter. Institutional investors and hedge funds own 92.25% of the company’s stock.
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.
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