Equities Analysts Set Expectations for Centene Co.’s Q3 2024 Earnings (NYSE:CNC)

Centene Co. (NYSE:CNC) – Equities research analysts at Zacks Research cut their Q3 2024 earnings estimates for shares of Centene in a note issued to investors on Wednesday, September 11th. Zacks Research analyst K. Dey now expects that the company will earn $1.40 per share for the quarter, down from their previous forecast of $1.61. The consensus estimate for Centene’s current full-year earnings is $6.83 per share. Zacks Research also issued estimates for Centene’s Q2 2025 earnings at $1.94 EPS, Q3 2025 earnings at $1.69 EPS, FY2025 earnings at $7.35 EPS, Q2 2026 earnings at $2.14 EPS and FY2026 earnings at $8.18 EPS.

Centene (NYSE:CNC) last issued its quarterly earnings data on Friday, July 26th. The company reported $2.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.02). Centene had a return on equity of 14.45% and a net margin of 1.79%. The firm had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $36.83 billion. During the same period in the previous year, the company posted $2.10 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis.

A number of other research analysts also recently issued reports on CNC. Jefferies Financial Group downgraded Centene from a “buy” rating to a “hold” rating and reduced their price objective for the company from $83.00 to $69.00 in a research note on Wednesday, July 24th. Stephens restated an “equal weight” rating and set a $78.00 price target on shares of Centene in a research report on Monday, August 5th. JPMorgan Chase & Co. lowered their price objective on shares of Centene from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. TD Cowen increased their target price on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Oppenheimer reduced their price objective on Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.75.

Centene Stock Performance

CNC stock opened at $73.47 on Thursday. The business has a 50 day moving average of $73.23 and a 200-day moving average of $73.64. The firm has a market cap of $39.21 billion, a PE ratio of 14.61, a P/E/G ratio of 0.95 and a beta of 0.48. Centene has a 12-month low of $63.45 and a 12-month high of $81.42. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64.

Institutional Trading of Centene

Institutional investors have recently added to or reduced their stakes in the stock. Hohimer Wealth Management LLC increased its position in shares of Centene by 1.1% during the fourth quarter. Hohimer Wealth Management LLC now owns 12,020 shares of the company’s stock valued at $892,000 after buying an additional 131 shares during the period. EP Wealth Advisors LLC increased its holdings in Centene by 1.0% during the 1st quarter. EP Wealth Advisors LLC now owns 13,604 shares of the company’s stock worth $1,068,000 after acquiring an additional 133 shares during the period. WR Wealth Planners LLC lifted its stake in Centene by 41.4% in the 2nd quarter. WR Wealth Planners LLC now owns 468 shares of the company’s stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of Centene by 10.0% in the second quarter. Whittier Trust Co. now owns 1,562 shares of the company’s stock worth $104,000 after purchasing an additional 142 shares during the period. Finally, Fidelis Capital Partners LLC boosted its stake in Centene by 5.0% during the first quarter. Fidelis Capital Partners LLC now owns 3,316 shares of the company’s stock valued at $260,000 after buying an additional 158 shares during the period. Hedge funds and other institutional investors own 93.63% of the company’s stock.

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.