CNC (Centene Corporation) stock is in for a key growth catalyst

In the latest session, Centene Corporation (NYSE: CNC) closed at $82.96 up 1.02% from its previous closing price of $82.12. In other words, the price has increased by $+0.84 from its previous closing price. On the day, 3328743 shares were traded. CNC stock price reached its highest trading level at $83.53 during the session, while it also had its lowest trading level at $82.37.

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For a deeper understanding of Centene Corporation’s stock, let’s take a closer look at its various ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 3.07 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 6.14. In the meantime, Its Debt-to-Equity ratio is 0.72 whereas as Long-Term Debt/Eq ratio is at 0.71.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Argus on September 30, 2022, initiated with a Buy rating and assigned the stock a target price of $90.

On August 26, 2022, Wells Fargo Downgraded its rating to Equal Weight which previously was Overweight and also lowered its target price recommendation from $103 to $99.

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Jul 29 when BAGLEY SHANNON sold 9,000 shares for $92.21 per share. The transaction valued at 829,890 led to the insider holds 118,194 shares of the business.

Robinson Lori Jean sold 1,200 shares of CNC for $111,324 on Jul 28. The Director now owns 9,908 shares after completing the transaction at $92.77 per share. On Jul 08, another insider, GEPHARDT Richard A, who serves as the Director of the company, sold 4,480 shares for $88.00 each. As a result, the insider received 394,240 and left with 22,560 shares of the company.

Valuation Measures:

As of this moment, Centene’s Price-to-Earnings (P/E) ratio for their current fiscal year is 24.21, and their Forward P/E ratio for the next fiscal year is 13.08. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.77. For the stock, the TTM Price-to-Sale (P/S) ratio is 0.32 while its Price-to-Book (P/B) ratio in mrq is 1.88.

Stock Price History:

Over the past 52 weeks, CNC has reached a high of $98.53, while it has fallen to a 52-week low of $69.51. The 50-Day Moving Average of the stock is 80.36, while the 200-Day Moving Average is calculated to be 84.78.

Shares Statistics:

For the past three months, CNC has traded an average of 3.99M shares per day and 3.74M over the past ten days. A total of 573.96M shares are outstanding, with a floating share count of 563.21M. Insiders hold about 0.50% of the company’s shares, while institutions hold 98.30% stake in the company. Shares short for CNC as of Oct 13, 2022 were 9.77M with a Short Ratio of 6.65M, compared to 9.14M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 1.72% and a Short% of Float of 1.94%.

Earnings Estimates

There are 17 different market analysts currently analyzing its stock. On average, analysts expect EPS of $0.87 for the current quarter, with a high estimate of $1.37 and a low estimate of $0.78, while EPS last year was $1.01. The consensus estimate for the next quarter is $2.13, with high estimates of $4.35 and low estimates of $1.78.

Analysts are recommending an EPS of between $6 and $5.45 for the fiscal current year, implying an average EPS of $5.73. EPS for the following year is $6.34, with 20 analysts recommending between $6.8 and $6.13.

Revenue Estimates

A total of 14 analysts believe the company’s revenue will be $35.36B this quarter.It ranges from a high estimate of $37.72B to a low estimate of $34.22B. As of the current estimate, Centene Corporation’s year-ago sales were $32.57B, an estimated increase of 8.60% from the year-ago figure. For the next quarter, 11 analysts are estimating revenue of $36.72B, a decrease of -1.30% less than the figure of $8.60% in the same quarter last year. There is a high estimate of $39.38B for the next quarter, whereas the lowest estimate is $34.54B.

A total of 17 analysts have provided revenue estimates for CNC’s current fiscal year. The highest revenue estimate was $146.71B, while the lowest revenue estimate was $142.04B, resulting in an average revenue estimate of $144.46B. In the same quarter a year ago, actual revenue was $125.98B, up 14.70% from the average estimate. Based on 18 analysts’ estimates, the company’s revenue will be $143.76B in the next fiscal year. The high estimate is $153.98B and the low estimate is $134.89B. The average revenue growth estimate for next year is down -0.50% from the average revenue estimate for this year.