Centene (NYSE:CNC) Releases Q3 2024 Earnings Guidance

Centene (NYSE:CNC) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.310-1.410 for the period, compared to the consensus earnings per share estimate of 1.510. The company issued revenue guidance of -.

Centene Trading Up 0.0 %

NYSE:CNC opened at $70.84 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17. Centene has a 1 year low of $63.45 and a 1 year high of $81.42. The stock has a market cap of $37.26 billion, a P/E ratio of 14.08, a P/E/G ratio of 0.95 and a beta of 0.48. The stock has a 50-day simple moving average of $73.00 and a 200-day simple moving average of $73.70.

Centene (NYSE:CNC) last released 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 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 business earned $2.10 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, analysts anticipate that Centene will post 6.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CNC has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of Centene from $85.00 to $80.00 and set a neutral rating on the stock in a research note on Wednesday, July 10th. StockNews.com raised shares of Centene from a buy rating to a strong-buy rating in a research report on Monday, July 29th. Cantor Fitzgerald restated an overweight rating and set a $90.00 target price on shares of Centene in a research note on Monday, August 19th. Wells Fargo & Company lifted their price objective on Centene from $81.00 to $93.00 and gave the company an overweight rating in a report on Monday, August 5th. Finally, Robert W. Baird began coverage on shares of Centene in a research report on Thursday, May 30th. They set a neutral rating and a $83.00 target price on the stock. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $85.75.

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.