Centene (NYSE:CNC) Issues FY 2024 Earnings Guidance

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

Centene Stock Up 0.7 %

Centene stock opened at $75.35 on Friday. The firm has a market cap of $39.64 billion, a PE ratio of 14.98, a P/E/G ratio of 0.99 and a beta of 0.48. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. The firm’s 50 day moving average price is $73.57 and its two-hundred day moving average price is $73.61. Centene has a twelve month low of $63.45 and a twelve month high of $81.42.

Centene (NYSE:CNC) last posted its earnings results on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $36.83 billion. During the same quarter in the previous year, the business posted $2.10 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, research analysts predict that Centene will post 6.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CNC. Oppenheimer dropped their target price on shares of Centene from $110.00 to $95.00 and set an outperform rating for the company in a research note on Monday, July 29th. Stephens reiterated an equal weight rating and issued a $78.00 price target on shares of Centene in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Centene from $82.00 to $87.00 and gave the stock a hold rating in a report on Friday, August 2nd. Barclays reduced their target price on shares of Centene from $98.00 to $97.00 and set an overweight rating for the company in a report on Thursday, September 5th. Finally, Baird R W raised shares of Centene to a hold rating in a research report on Thursday, May 30th. Seven analysts have rated the stock with a hold rating, six have issued 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 $85.58.

Centene Company Profile

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.