Centene Corp. (CNC) concluded trading on Wednesday at a closing price of $78.35, with 3.08 million shares of worth about $241.46 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 11.94% during that period and on March 27, 2024 the price saw a gain of about 1.02%. Currently the company’s common shares owned by public are about 534.48M shares, out of which, 529.07M shares are available for trading.
However, the stock later moved at a day high price of 78.69, or with a gain of 1.02%. Stock saw a price change of 0.60% in past 5 days and over the past one month there was a price change of -2.56%. Year-to-date (YTD), CNC shares are showing a performance of 5.58% which increased to 21.00% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $60.83 but also hit the highest price of $81.42 during that period. The average intraday trading volume for Centene Corp. shares is 2.97 million. The stock is currently trading 1.01% above its 20-day simple moving average (SMA20), while that difference is up 1.66% for SMA50 and it goes to 9.64% higher than SMA200.
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Centene Corp. (NYSE: CNC) currently have 534.48M outstanding shares and institutions hold larger chunk of about 94.85% of that.
The stock has a current market capitalization of $41.91B and its 3Y-monthly beta is at 0.38. PE ratio of stock for trailing 12 months is 15.95, while it has posted earnings per share of $4.91 in the same period. Its PEG reads 1.36 while making debt-to-equity ratio of 0.73. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CNC, volatility over the week remained 1.32% while standing at 1.96% over the month.
Analysts are in expectations that Centene Corp. (CNC) stock would likely to be making an EPS of $2.14 in the current quarter, while forecast for next quarter EPS is $1.95 and it is $7.6 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.9 which is $2.59 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.11 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 1.42% while it is estimated to increase by 11.95% in next year. EPS is likely to shrink at an annualized rate of 11.71% for next 5-years, compared to annual growth of 17.00% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stephens on March 21, 2024 offering an Equal-weight rating for the stock and assigned a target price range of between $92 and $85 to it. Coverage by Barclays stated Centene Corp. (CNC) stock as an Overweight in their note to investors on March 06, 2024, suggesting a price target of $101 for the stock. On January 02, 2024, Wells Fargo Upgrade their recommendations, while on September 05, 2023, BofA Securities Upgrade their ratings for the stock with a price target of $72. Stock get an Equal-weight rating from Morgan Stanley on August 30, 2023.
