On November 21, 2023, Cantor Fitzgerald analyst Sarah James expressed her bullish stance on Centene (NYSE:CNC), maintaining an Overweight rating and a $82 price target. This reaffirmation reflects the optimistic outlook for Centene’s stock. Notably, the average one-year price target for Centene as of August 31, 2023, stood at $83.69, with a wide range of forecasts spanning from $71.71 to $115.50. Similarly, as of April 6, 2023, the average one-year price target for Centene was $91.23, with forecasts ranging from $71.71 to $115.50. Furthermore, analysts surveyed by Capital IQ have assigned Centene an average rating of outperform, accompanied by price targets ranging from $71 to $110. The consensus average target price for Centene currently stands at $81.46, with a high price target of $110.00 and a low price target of $71.00. These figures collectively indicate a positive sentiment among analysts regarding the future performance of Centene’s stock.
Updated on: 04/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
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Centene Corporation: Positive Stock Performance and Promising Earnings Growth in the Managed Health Care Industry
On November 21, 2023, Centene Corporation (CNC) experienced a positive performance in the stock market. The stock opened at $73.11 and fluctuated between $72.37 and $73.88 throughout the day. The trading volume for the day was 1,289,569 shares. The market capitalization of Centene Corporation stands at $39.1 billion.
Centene Corporation has shown mixed earnings growth in recent years. Last year, the company experienced a decline in earnings growth of -9.58%. However, this year, the company has rebounded with a positive earnings growth of +11.33%. Analysts forecast a further increase in earnings growth over the next five years, estimating a growth rate of +11.71%. The company’s revenue growth was +14.74% in the previous year.
The price-to-earnings (P/E) ratio for Centene Corporation is 16.3. The price-to-sales ratio is 0.33, and the price-to-book ratio is 1.68.
Centene Corporation’s stock showed a positive change of +4.02, representing a percentage change of +1.13%. Another major player in the industry, Molina Healthcare Inc, also experienced a positive stock performance with a change of +1.10%.
Centene Corporation is scheduled to report its next earnings on February 6, 2024. Analysts are expecting an earnings per share (EPS) of $0.80 for the current quarter. In the previous year, the company generated an annual revenue of $144.5 billion and a profit of $1.2 billion, resulting in a net profit margin of 0.83%.
Centene Corporation is headquartered in St. Louis, Missouri, and operates in the managed health care industry.
Centene Corp (CNC) Stock Forecast: Analysts Predict Strong Performance and Positive Outlook for 2023
On November 21, 2023, Centene Corp (CNC) stock is expected to perform well, according to analysts offering 12-month price forecasts. The 16 analysts have a median target of $83.00, with a high estimate of $110.00 and a low estimate of $72.00. This median estimate represents a 12.57% increase from the last price of $73.73.
The consensus among 18 polled investment analysts is to hold stock in Centene Corp. This rating has remained steady since November, indicating that analysts have maintained their positive stance on the company’s performance.
Centene Corp is a healthcare company that provides services to government-sponsored healthcare programs. The company’s strong financials and positive market sentiment have contributed to its positive stock performance.
Centene Corp reported earnings per share of $0.80 for the current quarter, indicating a solid performance. The company’s sales for the same period were $35.0 billion, reflecting a strong revenue stream.
Investors and analysts are eagerly awaiting the company’s next earnings report, which is scheduled to be released on February 6. This report will provide further insights into Centene Corp’s financial performance and may impact the stock’s future trajectory.
Overall, the current consensus among analysts suggests that holding stock in Centene Corp is a prudent decision. The positive price forecasts and steady hold rating indicate that analysts are optimistic about the company’s future prospects.
Investors should closely monitor Centene Corp’s financial performance and any updates from the company to make informed investment decisions. As always, it is important to conduct thorough research and consider one’s own risk tolerance before making any investment decisions.