Centene (NYSE:CNC) Releases FY24 Earnings Guidance

Centene (NYSE:CNC) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $6.80 for the period, compared to the consensus estimate of $6.72.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CNC shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of Centene in a research report on Tuesday, October 1st. TD Cowen lifted their price target on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Sanford C. Bernstein decreased their price objective on shares of Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Barclays cut their target price on shares of Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group cut Centene from a “buy” rating to a “hold” rating and dropped their price target for the company from $83.00 to $69.00 in a report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.92.

Centene Trading Down 0.3 %

Shares of CNC traded down $0.20 on Wednesday, reaching $58.40. 293,470 shares of the company’s stock were exchanged, compared to its average volume of 3,939,308. The business has a 50 day moving average price of $69.34 and a two-hundred day moving average price of $71.41. The stock has a market capitalization of $29.48 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 0.83 and a beta of 0.49. Centene has a 12 month low of $58.18 and a 12 month high of $81.42. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64.

Insider Transactions at Centene

In other news, CEO Sarah London purchased 4,117 shares of the business’s stock in a transaction on Friday, November 8th. The stock was purchased at an average price of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the purchase, the chief executive officer now directly owns 667,229 shares in the company, valued at $40,567,523.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is currently owned by insiders.

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.