Centene (CNC) Set to Announce Quarterly Earnings on Tuesday

Centene (NYSE:CNC – Get Free Report) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, October 24th. Analysts expect the company to announce earnings of $1.39 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Centene (NYSE:CNC – Get Free Report) last issued its quarterly earnings data on Friday, July 28th. The company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The firm had revenue of $37.61 billion during the quarter, compared to analysts’ expectations of $36.56 billion. Centene had a return on equity of 14.15% and a net margin of 1.83%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.77 EPS. On average, analysts expect Centene to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

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Centene Trading Up 0.1 %

Shares of NYSE CNC opened at $71.11 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $38.50 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 0.98 and a beta of 0.52. Centene has a 1-year low of $60.83 and a 1-year high of $87.84. The business has a fifty day moving average price of $66.76 and a 200 day moving average price of $66.79.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CNC shares. Truist Financial decreased their price objective on Centene from $88.00 to $83.00 in a research note on Tuesday, June 20th. TheStreet upgraded Centene from a “c+” rating to a “b-” rating in a research note on Friday, September 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $82.00 target price on shares of Centene in a research report on Thursday, September 14th. Oppenheimer reaffirmed an “outperform” rating and set a $110.00 target price on shares of Centene in a research report on Monday, July 31st. Finally, UBS Group assumed coverage on Centene in a research report on Tuesday, June 20th. They set a “neutral” rating and a $72.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Centene currently has an average rating of “Moderate Buy” and an average price target of $83.22.

Check Out Our Latest Stock Analysis on Centene

Hedge Funds Weigh In On Centene

A number of hedge funds have recently bought and sold shares of CNC. Moneta Group Investment Advisors LLC boosted its position in Centene by 84,741.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 225,379,868 shares of the company’s stock worth $18,483,403,000 after purchasing an additional 225,114,221 shares in the last quarter. Norges Bank purchased a new position in Centene during the fourth quarter worth approximately $713,235,000. Barclays PLC boosted its position in Centene by 166.5% during the second quarter. Barclays PLC now owns 3,225,033 shares of the company’s stock worth $217,530,000 after purchasing an additional 2,014,866 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Centene by 5,586.9% during the first quarter. Thrivent Financial for Lutherans now owns 1,683,431 shares of the company’s stock worth $106,409,000 after purchasing an additional 1,653,829 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Centene by 157.7% in the first quarter. AQR Capital Management LLC now owns 1,506,973 shares of the company’s stock valued at $95,256,000 after acquiring an additional 922,161 shares in the last quarter. Hedge funds and other institutional investors own 90.92% of the company’s stock.

About Centene

(Get Free Report)

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. It operates in two segments, Managed Care and Specialty Services. The 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 cover dually eligible individuals, as well as aged, blind, or disabled programs.

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