With over 5.27 million Centene Corp. (CNC) shares trading Tuesday and a closing price of $76.34 on the day, the dollar volume was approximately $402.52 million. The shares have shown a positive half year performance of 9.89% and its price on 12/12/23 gained nearly 2.81%. Currently, there are 550.75M common shares owned by the public and among those 528.52M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for CNC have a consensus price objective of $82.89. The analysts have set the share’s price value over the next 12 months at a high of $110.00 and a low of $72.00. The average price target is 7.9% above its recent price level and a downside to the estimated low will see the stock lose -6.03% over that period. But an upside of 30.6% will see the stock hit the forecast high price target while median target price for the stock is $83.00.
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Insiders at the company have transacted a total of 69 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 48 of these insider trades were purchases, accounting for 633,407 shares. Insider sales of the common stock occurred on 21 occasions, with total insider shares sold totaling 99,235 shares.
Shares of Centene Corp. (NYSE: CNC) opened at $75.62, up $1.37 from a prior closing price of $74.25. However, the script later moved the day high at 77.83, up 2.81%. The company’s stock has a 5-day price change of 1.77% and 11.71% over the past three months. CNC shares are trading -6.91% year to date (YTD), with the 12-month market performance down to -11.49% lower. It has a 12-month low price of $60.83 and touched a high of $87.19 over the same period. CNC has an average intraday trading volume of 3.05 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.77%, 6.66%, and 12.77% respectively.
Institutional ownership of Centene Corp. (NYSE: CNC) shares accounts for 92.47% of the company’s 550.75M shares outstanding.
It has a market capitalization of $40.78B and a beta (3y monthly) value of 0.41. The stock’s trailing 12-month PE ratio is 17.16, while the earnings-per-share (ttm) stands at $4.45. The company has a PEG of 1.34 and the debt-to-equity ratio at 0.76. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.92% over the week and 2.15% over the month.
Analysts forecast that Centene Corp. (CNC) will achieve an EPS of $0.42 for the current quarter, $2.14 for the next quarter and $6.77 for 2024. The lowest estimate earnings-per-share for the quarter is $0.25 while analysts give the company a high EPS estimate of $0.55. Comparatively, EPS for the current quarter was $0.86 a year ago. Earnings per share for the fiscal year are expected to increase by 13.41%, and 0.94% over the next financial year. EPS should grow at an annualized rate of 12.82% over the next five years, compared to -2.49% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Centene Corp. (CNC) as a “Moderate Buy” at a consensus score of 2.16. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 10 of the 19 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CNC, a number of firms have released research notes about the stock. BofA Securities stated their Neutral rating for the stock in a research note on September 05, 2023, with the firm’s price target at $79-$72.
