Centene (NYSE:CNC) Releases FY24 Earnings Guidance

Centene (NYSE:CNC) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of at least $6.80 for the period, compared to the consensus EPS estimate of $6.84. Centene also updated its Q3 2024 guidance to 1.310-1.410 EPS.

Analysts Set New Price Targets

CNC has been the subject of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of Centene from $85.00 to $80.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. Baird R W upgraded shares of Centene to a hold rating in a research report on Thursday, May 30th. Truist Financial cut their price target on Centene from $92.00 to $89.00 and set a buy rating on the stock in a research report on Monday, July 15th. Wells Fargo & Company boosted 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, Deutsche Bank Aktiengesellschaft raised their target price on Centene from $82.00 to $87.00 and gave the stock a hold rating in a report on Friday, August 2nd. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $85.75.

Centene Trading Up 0.0 %

Shares of NYSE:CNC opened at $70.84 on Tuesday. 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 business’s 50 day moving average price is $73.00 and its 200-day moving average price is $73.70. The firm has a market capitalization of $37.26 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 0.95 and a beta of 0.48. Centene has a 1 year low of $63.45 and a 1 year high of $81.42.

Centene (NYSE:CNC) last released 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). Centene had a return on equity of 14.45% and a net margin of 1.79%. The company had revenue of $39.84 billion for the quarter, compared to analyst estimates of $36.83 billion. During the same quarter last year, the company earned $2.10 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities research analysts forecast that Centene will post 6.83 earnings per share for the current fiscal year.

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.