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.

Wall Street Analysts Forecast Growth

Several research firms have commented on CNC. Stephens restated an “equal weight” rating and issued a $78.00 target price on shares of Centene in a report on Monday, August 5th. StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Monday. Truist Financial lowered their target price on shares of Centene from $92.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price objective on shares of Centene in a report on Tuesday, October 1st. Finally, Sanford C. Bernstein decreased 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. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Centene has a consensus rating of “Moderate Buy” and an average target price of $84.00.

Centene Stock Up 1.9 %

NYSE:CNC opened at $61.77 on Thursday. The company has a market cap of $32.96 billion, a PE ratio of 12.28, a P/E/G ratio of 0.98 and a beta of 0.48. Centene has a twelve month low of $59.77 and a twelve month high of $81.42. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. The company’s 50 day moving average is $71.87 and its two-hundred day moving average is $72.09.

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.