The stock of Centene Corporation (NYSE:CNC) increased by $0.42 on Tuesday to finish at $64.44, up 0.66 percent. The last five days have seen an average of 2,023,520 shares of common stock traded. 1 time new highs were reached in the current year, with a fall of -$17.57. The average number of shares traded over the last 20 days was 2,695,320, while the average volume over the last 50 days totaled 3,093,230.
CNC stock dropped -5.36% since last month. On 08/25/23, the company’s shares reached a one-month low of $62.92. The stock touched a high of $93.58 on 01/03/23, after rallying from a low of $61.34 in 52 weeks. The price of CNC stock has declined by -21.42% or -$17.57 this year, reaching a new high 1 time. Still, the stock price is down -31.14% from the 52-week high.
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Insider Transactions
CNC stock investors should be aware that Centene Corporation (CNC) stock had its last reported insider trading activity 125 days ago on Apr 27. On Apr 27, Director Robinson Lori Jean sold 1,400 shares at $66.59 each. This transaction resulted in the insider making $93,226. On Mar 17, LONDON SARAH added 30,000 shares at a price of US$62.60. After the transaction, the insider now owns 313,953 shares. EVP, CFO Asher Andrew Lynn had earlier bought 3,800 shares on Feb 10 for $71.97 a share. The transaction was completed for $273,486.
Valuation Metrics
Centene Corporation (CNC) has a trailing price-to-earnings (P/E) ratio of 13.28. Beta for the stock is 0.57. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.24, the price-to-book (PB) ratio of 1.38, and the price-to-cash flow ratio of 4.60.
Financial Health
For the three months ended June 29, Centene Corporation’s quick ratio was 1.10, while its current ratio was 1.10, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.70, and the total debt to equity ratio is 0.70. As far as profitability goes, gross margin for the trailing twelve months is 11.40% percent. Centene Corporation’s operating margin stood at 1.80% for the same period. Based on annual data, it had gross profit of $16.66 billion and revenue of $144.55 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CNC’s return on assets (ROA) during the last 12 months has been 3.40%. There was a 1.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 10.80%.
Earnings Surprise
According to Centene Corporation’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $37.61 billion, while revenues rose by 4.45% to $38.89 billion. It was predicted that Centene Corporation’s quarterly earnings would be $2.1, but it ended up being $2.03, beating the consensus by 3.40%. EBITDA was $1.48 billion for the quarter. At the end of Centene Corporation’s most recent quarter ended June 29, its liabilities totaled 57.09 billion, while its total debt was $21.35 billion. Equity owned by shareholders amounts to $541.48 million.
Technical Picture
Here’s a quick look at Centene Corporation’s (CNC) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 46.19%, suggesting the stock is Neutral, with a 10.25% historical volatility rate.
The stochastic %K and %D were 24.37% and 20.80% respectively, while the average true range (ATR) was 1.12. Based on the 14-day stochastic reading of 34.94%, the RSI (14) reading is 44.55%. On the 9-day MACD Oscillator, the stock is at 0.16, and the 14-day reading is at -0.47.
Analyst Ratings
Centene Corporation (NYSE: CNC) was downgraded by Wolfe Research to a a Peer perform rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned Centene Corporation (CNC) an Overweight rating. CNC is a stock that is recommended for selling by 0 brokerage firms, while 9 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 2 rates it overweight and 9 others recommend it as a buy.
What is CNC’s price target for the next 12 months?
The current consensus forecast for the stock is between $71.00 and $110.00, with a median target price of $83.00. In analyzing these forecasts, the average price target given by analysts for Centene Corporation (CNC) is $83.22.
