Zacks Research Brokers Cut Earnings Estimates for Centene Co. (NYSE:CNC)

Centene Co. (NYSE:CNC) – Zacks Research decreased their Q3 2024 earnings per share (EPS) estimates for shares of Centene in a report released on Wednesday, August 14th. Zacks Research analyst K. Dey now anticipates that the company will post earnings of $1.61 per share for the quarter, down from their prior forecast of $1.86. The consensus estimate for Centene’s current full-year earnings is $6.84 per share. Zacks Research also issued estimates for Centene’s Q1 2025 earnings at $2.73 EPS, Q2 2025 earnings at $1.95 EPS, Q3 2025 earnings at $1.70 EPS, Q4 2025 earnings at $1.07 EPS, FY2025 earnings at $7.45 EPS, Q1 2026 earnings at $3.06 EPS and Q2 2026 earnings at $2.18 EPS.

Centene (NYSE:CNC) last announced its quarterly 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). The business had revenue of $39.84 billion during the quarter, compared to analysts’ expectations of $36.83 billion. Centene had a return on equity of 14.45% and a net margin of 1.79%. Centene’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.10 EPS.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price target on shares of Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft increased their price target on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their target price on Centene from $81.00 to $93.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of Centene in a report on Tuesday, July 23rd. Finally, Oppenheimer cut their target price on shares of Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.36.

Centene Stock Down 0.5 %

Centene stock opened at $78.11 on Friday. The business has a fifty day moving average price of $70.08 and a 200-day moving average price of $73.75. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. Centene has a 1-year low of $60.83 and a 1-year high of $81.42. The stock has a market capitalization of $41.68 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.00 and a beta of 0.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CNC. Rise Advisors LLC acquired a new position in Centene during the first quarter worth approximately $25,000. WR Wealth Planners LLC raised its holdings in shares of Centene by 41.4% in the second quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock valued at $31,000 after buying an additional 137 shares during the last quarter. Riggs Asset Managment Co. Inc. purchased a new position in shares of Centene during the fourth quarter worth about $32,000. Chris Bulman Inc purchased a new stake in Centene during the 2nd quarter valued at approximately $33,000. Finally, Riverview Trust Co grew its stake in shares of Centene by 154.6% in the 2nd quarter. Riverview Trust Co now owns 527 shares of the company’s stock valued at $35,000 after purchasing an additional 320 shares during the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

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.