Centene (NYSE:CNC) Issues FY 2024 Earnings Guidance

Centene (NYSE:CNC) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 6.800- for the period, compared to the consensus estimate of 6.830. The company issued revenue guidance of -.

Centene Trading Up 0.2 %

Shares of Centene stock opened at $70.98 on Wednesday. The company has a fifty day simple moving average of $73.09 and a 200-day simple moving average of $73.64. Centene has a 12-month low of $63.45 and a 12-month high of $81.42. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. The stock has a market cap of $37.34 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 0.95 and a beta of 0.48.

Centene (NYSE:CNC) last posted its earnings results on Friday, July 26th. The company reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). Centene had a net margin of 1.79% and a return on equity of 14.45%. The firm had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $36.83 billion. During the same period in the previous year, the firm posted $2.10 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities analysts forecast that Centene will post 6.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CNC shares. Cantor Fitzgerald reiterated an overweight rating and issued a $90.00 price objective on shares of Centene in a research report on Tuesday. Oppenheimer dropped their price target on shares of Centene from $110.00 to $95.00 and set an outperform rating on the stock in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Centene from $82.00 to $87.00 and gave the company a hold rating in a research report on Friday, August 2nd. Jefferies Financial Group cut Centene from a buy rating to a hold rating and dropped their target price for the stock from $83.00 to $69.00 in a research report on Wednesday, July 24th. Finally, StockNews.com raised Centene from a buy rating to a strong-buy rating in a report on Monday, July 29th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $85.75.

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.