Centene (NYSE:CNC – Get Ranking) up to date its FY 2024 earnings steerage on Tuesday. The corporate supplied earnings per share (EPS) steerage of $7.15- for the interval. The corporate issued income steerage of -.
Analysts Set New Value Targets
A number of brokerages have not too long ago commented on CNC. Deutsche Financial institution Aktiengesellschaft decreased their worth goal on shares of Centene from $99.00 to $94.00 in a report on Wednesday, October twenty sixth. Barclays lower their worth goal on shares of Centene from $107.00 to $100.00 and set an chubby score on the inventory in a analysis be aware on Monday, October third. Cowen lower their worth goal on Centene from $108.00 to $101.00 in a report on Thursday, September twenty second. Credit score Suisse Group lifted their worth goal on Centene from $104.00 to $106.00 and gave the corporate an outperform score in a analysis be aware on Monday, December nineteenth. Lastly, StockNews.com downgraded Centene from a strong-buy score to a purchase score in a report on Monday, December twenty sixth. One funding analyst has rated the inventory with a promote score, two have assigned a maintain score and twelve have given a purchase score to the corporate’s inventory. Primarily based on knowledge from MarketBeat.com, the corporate presently has a mean score of Reasonable Purchase and a mean worth goal of $101.56.
Centene Buying and selling Down 2.8 %
Centene inventory traded down $2.27 throughout buying and selling on Tuesday, reaching $79.74. The corporate had a buying and selling quantity of 6,391,617 shares, in comparison with its common quantity of two,811,817. The corporate has a debt-to-equity ratio of 0.71, a fast ratio of 1.06 and a present ratio of 1.06. The agency has a market capitalization of $45.15 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.07 and a beta of 0.60. Centene has a 12-month low of $73.19 and a 12-month excessive of $98.53. The inventory’s 50 day shifting common worth is $83.47 and its two-hundred day shifting common worth is $85.28.
Centene (NYSE:CNC – Get Ranking) final posted its quarterly earnings outcomes on Tuesday, October twenty fifth. The corporate reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. Centene had a web margin of 1.42% and a return on fairness of 13.08%. The agency had income of $35.84 billion for the quarter, in comparison with analyst estimates of $35.45 billion. Throughout the identical quarter final 12 months, the agency posted $1.26 earnings per share. Centene’s income for the quarter was up 10.6% in comparison with the identical quarter final 12 months. As a bunch, equities analysts anticipate that Centene will submit 5.72 earnings per share for the present fiscal 12 months.
Centene introduced that its Board of Administrators has initiated a share repurchase program on Friday, December sixteenth that authorizes the corporate to repurchase $2.00 billion in shares. This repurchase authorization authorizes the corporate to purchase as much as 4.3% of its inventory via open market purchases. Inventory repurchase applications are usually a sign that the corporate’s administration believes its shares are undervalued.
Institutional Inflows and Outflows
A number of hedge funds have not too long ago added to or decreased their stakes within the inventory. Cibc World Market Inc. boosted its holdings in Centene by 1,401.4% within the first quarter. Cibc World Market Inc. now owns 46,333 shares of the corporate’s inventory value $3,901,000 after buying an extra 43,247 shares throughout the interval. Vontobel Holding Ltd. elevated its holdings in shares of Centene by 7.2% within the first quarter. Vontobel Holding Ltd. now owns 9,734 shares of the corporate’s inventory valued at $841,000 after shopping for an extra 657 shares within the final quarter. Blair William & Co. IL elevated its place in shares of Centene by 104.7% within the first quarter. Blair William & Co. IL now owns 43,760 shares of the corporate’s inventory value $3,684,000 after buying an extra 22,382 shares within the final quarter. Brighton Jones LLC bought a brand new place in shares of Centene throughout the first quarter valued at $203,000. Lastly, Candriam Luxembourg S.C.A. elevated its place in Centene by 10.0% within the 1st quarter. Candriam Luxembourg S.C.A. now owns 37,404 shares of the corporate’s inventory value $3,149,000 after buying an extra 3,414 shares over the last quarter. 93.28% of the inventory is owned by institutional traders and hedge funds.
Centene Firm Profile
Centene Company operates as a multi-national healthcare enterprise that gives applications and providers to under-insured and uninsured people in the US. Its Managed Care section affords well being plan protection to people via authorities backed applications, together with Medicaid, the State youngsters’s medical health insurance program, long-term providers and assist, foster care, and medicare-medicaid plans, which cowl dually eligible people, in addition to aged, blind, or disabled applications.
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This prompt information alert was generated by narrative science expertise and monetary knowledge from MarketBeat with a purpose to present readers with the quickest and most correct reporting. This story was reviewed by MarketBeat’s editorial workforce previous to publication. Please ship any questions or feedback about this story to contact@marketbeat.com.
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