Wall Street brokerages predict that Cerner Co. (NASDAQ:CERN) will report earnings per share (EPS) of $0.61 for the current fiscal quarter, according to Zacks. Ten analysts have provided estimates for Cerner’s earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.63. Cerner reported earnings per share of $0.66 during the same quarter last year, which indicates a negative year over year growth rate of 7.6%. The business is expected to issue its next earnings results on Wednesday, July 22nd.
According to Zacks, analysts expect that Cerner will report full year earnings of $2.84 per share for the current financial year, with EPS estimates ranging from $2.78 to $2.89. For the next financial year, analysts expect that the company will report earnings of $3.31 per share, with EPS estimates ranging from $3.12 to $3.47. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Cerner.
Cerner (NASDAQ:CERN) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.01. Cerner had a net margin of 8.93% and a return on equity of 18.20%. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business posted $0.61 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year.
Several equities research analysts recently weighed in on the stock. Stephens started coverage on shares of Cerner in a research report on Monday. They issued an “equal weight” rating and a $75.00 price target on the stock. SVB Leerink started coverage on shares of Cerner in a research note on Monday, April 13th. They set an “outperform” rating and a $78.00 target price for the company. SunTrust Banks lowered shares of Cerner from a “buy” rating to a “hold” rating and boosted their target price for the company from $66.00 to $72.00 in a research note on Friday, May 1st. Morgan Stanley boosted their target price on shares of Cerner from $52.00 to $58.00 and gave the company an “underweight” rating in a research note on Wednesday, May 13th. Finally, BidaskClub lowered shares of Cerner from a “sell” rating to a “strong sell” rating in a research note on Monday, June 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $78.63.
CERN traded down $0.74 during trading hours on Thursday, hitting $70.19. The company’s stock had a trading volume of 86,989 shares, compared to its average volume of 2,223,653. The business’s 50-day moving average price is $69.75 and its 200-day moving average price is $70.28. Cerner has a 12 month low of $53.08 and a 12 month high of $80.90. The stock has a market cap of $21.28 billion, a price-to-earnings ratio of 43.43, a P/E/G ratio of 2.20 and a beta of 0.87. The company has a current ratio of 1.93, a quick ratio of 1.90 and a debt-to-equity ratio of 0.35.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 5th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.72 dividend on an annualized basis and a yield of 1.03%. Cerner’s dividend payout ratio is presently 29.88%.
In related news, CEO David Brent Shafer sold 14,282 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $68.52, for a total value of $978,602.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Linda M. Dillman sold 3,556 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $72.32, for a total value of $257,169.92. The disclosure for this sale can be found here. Insiders sold 133,834 shares of company stock valued at $9,481,016 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. NWK Group Inc. purchased a new position in Cerner in the fourth quarter valued at about $33,000. Ellevest Inc. boosted its holdings in Cerner by 53.0% in the second quarter. Ellevest Inc. now owns 514 shares of the company’s stock valued at $35,000 after purchasing an additional 178 shares during the last quarter. NewSquare Capital LLC bought a new position in Cerner during the 1st quarter worth approximately $38,000. Simon Quick Advisors LLC lifted its holdings in Cerner by 1,440.5% during the 1st quarter. Simon Quick Advisors LLC now owns 647 shares of the company’s stock worth $41,000 after buying an additional 605 shares during the last quarter. Finally, Procyon Private Wealth Partners LLC bought a new position in Cerner during the 4th quarter worth approximately $45,000. 82.75% of the stock is owned by hedge funds and other institutional investors.
Cerner Corporation provides health care information technology solutions and tech-enabled services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.
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