Centene (NYSE:CNC) Issues FY 2024 Earnings Guidance

Centene (NYSE:CNC) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 6.800- for the period, compared to the consensus EPS estimate of 6.820. The company issued revenue guidance of $159.0 billion-$161.0 billion, compared to the consensus revenue estimate of $155.6 billion.

Analyst Ratings Changes

A number of brokerages recently issued reports on CNC. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Centene from $82.00 to $87.00 and gave the company a “hold” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Centene from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Sanford C. Bernstein dropped their price objective on shares of Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday. Stephens reaffirmed an “equal weight” rating and issued a $78.00 target price on shares of Centene in a research report on Monday, August 5th. Finally, Jefferies Financial Group cut shares of Centene from a “buy” rating to a “hold” rating and decreased their target price for the company from $83.00 to $69.00 in a research report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Centene has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

Centene Stock Up 1.9 %

Shares of NYSE:CNC opened at $61.77 on Thursday. The firm’s 50 day moving average price is $71.87 and its 200 day moving average price is $72.09. The stock has a market cap of $32.96 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 0.98 and a beta of 0.48. Centene has a fifty-two week low of $59.77 and a fifty-two week 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.

About Centene

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.