Cerner Co. (CERN) Expected to Announce Earnings of $0.62 Per Share
Wall Street brokerages expect Cerner Co. (NASDAQ:CERN) to report earnings of $0.62 per share for the current quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Cerner’s earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.67. Cerner posted earnings of $0.61 per share in the same quarter last year, which indicates a positive year over year growth rate of 1.6%. The company is scheduled to announce its next quarterly earnings report on Thursday, February 8th.
According to Zacks, analysts expect that Cerner will report full year earnings of $2.43 per share for the current financial year, with EPS estimates ranging from $2.41 to $2.50. For the next financial year, analysts forecast that the firm will report earnings of $2.62 per share, with EPS estimates ranging from $2.54 to $2.77. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Cerner.
Cerner (NASDAQ:CERN) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). Cerner had a return on equity of 18.03% and a net margin of 13.37%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the company earned $0.59 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year.
A number of brokerages recently issued reports on CERN. Royal Bank Of Canada reissued a “buy” rating on shares of Cerner in a report on Wednesday, October 25th. Jefferies Group reaffirmed a “buy” rating on shares of Cerner in a research note on Sunday, October 29th. Zacks Investment Research lowered Cerner from a “buy” rating to a “sell” rating in a research note on Tuesday, October 31st. Leerink Swann reaffirmed a “hold” rating on shares of Cerner in a research note on Saturday. Finally, BidaskClub raised Cerner from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $69.61.
Shares of Cerner (CERN) traded up $0.23 during mid-day trading on Wednesday, reaching $69.75. The company had a trading volume of 2,831,100 shares, compared to its average volume of 2,386,397. Cerner has a 1-year low of $47.01 and a 1-year high of $73.86. The company has a market cap of $23,110.00, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 2.28 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.77 and a quick ratio of 2.75.
In other news, Chairman Clifford W. Illig sold 530,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $65.54, for a total transaction of $34,736,200.00. Following the completion of the sale, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at approximately $80,595,783.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Clifford W. Illig sold 4,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $65.96, for a total value of $263,840.00. Following the sale, the chairman now directly owns 1,229,719 shares of the company’s stock, valued at $81,112,265.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 927,470 shares of company stock valued at $61,604,482. Corporate insiders own 13.11% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Cerner in the third quarter valued at $128,000. Archford Capital Strategies LLC lifted its holdings in shares of Cerner by 1,286.0% in the third quarter. Archford Capital Strategies LLC now owns 2,980 shares of the company’s stock valued at $213,000 after purchasing an additional 2,765 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Cerner in the third quarter valued at $221,000. IFM Investors Pty Ltd purchased a new stake in shares of Cerner in the third quarter valued at $629,000. Finally, Fieldpoint Private Securities LLC purchased a new stake in shares of Cerner in the third quarter valued at $559,000. Institutional investors own 82.06% of the company’s stock.
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Cerner Corporation (Cerner) is a supplier of healthcare information technology (HCIT). The Company offers a range of intelligent solutions and services that support the clinical, financial and operational needs of organizations of all sizes. The Company’s segments include Domestic and Global. The Domestic segment includes revenue contributions and expenditures associated with business activity in the United States.
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