Zacks Research Weighs in on Centene Co.’s FY2024 Earnings (NYSE:CNC)

Centene Co. (NYSE:CNC) – Equities researchers at Zacks Research lowered their FY2024 EPS estimates for Centene in a report issued on Wednesday, September 11th. Zacks Research analyst K. Dey now forecasts that the company will earn $6.82 per share for the year, down from their prior estimate of $6.84. The consensus estimate for Centene’s current full-year earnings is $6.82 per share. Zacks Research also issued estimates for Centene’s Q4 2024 earnings at $0.75 EPS, Q1 2025 earnings at $2.72 EPS, Q4 2025 earnings at $1.00 EPS and Q1 2026 earnings at $3.00 EPS.

Centene (NYSE:CNC) last issued its quarterly earnings data 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 business had revenue of $39.84 billion for the quarter, compared to the consensus estimate of $36.83 billion. During the same period in the previous year, the business posted $2.10 EPS. Centene’s revenue was up 5.9% compared to the same quarter last year.

CNC has been the subject of several other reports. Stephens reissued an “equal weight” rating and set a $78.00 price objective on shares of Centene in a report on Monday, August 5th. Oppenheimer dropped their price target on Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Jefferies Financial Group cut Centene from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $83.00 to $69.00 in a research report on Wednesday, July 24th. StockNews.com raised Centene from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research note on Tuesday, September 10th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $85.58.

Centene Stock Up 0.7 %

CNC opened at $75.35 on Friday. Centene has a fifty-two week low of $63.45 and a fifty-two week high of $81.42. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. The firm’s fifty day moving average price is $73.57 and its two-hundred day moving average price is $73.56. The company has a market capitalization of $39.64 billion, a P/E ratio of 14.98, a P/E/G ratio of 0.99 and a beta of 0.48.

Institutional Investors Weigh In On Centene

Institutional investors and hedge funds have recently bought and sold shares of the business. Hohimer Wealth Management LLC raised its position in shares of Centene by 1.1% in the 4th quarter. Hohimer Wealth Management LLC now owns 12,020 shares of the company’s stock worth $892,000 after acquiring an additional 131 shares in the last quarter. EP Wealth Advisors LLC increased its position in Centene by 1.0% during the 1st quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock valued at $1,068,000 after buying an additional 133 shares in the last quarter. WR Wealth Planners LLC increased its position in Centene by 41.4% during the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after buying an additional 137 shares in the last quarter. Whittier Trust Co. increased its position in Centene by 10.0% during the 2nd quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock valued at $104,000 after buying an additional 142 shares in the last quarter. Finally, Fidelis Capital Partners LLC increased its position in Centene by 5.0% during the 1st quarter. Fidelis Capital Partners LLC now owns 3,316 shares of the company’s stock valued at $260,000 after buying an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.

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.