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Centene Corporation (CNC): What Are The Positives?

Centene Corporation (NYSE:CNC) has a beta value of 0.52 and has seen 6.64 million shares traded in the last trading session. The company, currently valued at $48.65B, closed the last trade at $83.41 per share which meant it lost -$1.36 on the day or -1.60% during that session. The CNC stock price is -18.13% off its 52-week high price of $98.53 and 27.1% above the 52-week low of $60.81. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.22 million shares traded. The 3-month trading volume is 3.20 million shares.

The consensus among analysts is that Centene Corporation (CNC) is an Overweight stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 2 rate it as Overweight. 6 out of 21 have rated it as a Hold, with 13 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $1.23.

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Centene Corporation (NYSE:CNC) trade information

Sporting -1.60% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 09/20/22 when the CNC stock price touched $83.41 or saw a rise of 7.36%. Year-to-date, Centene Corporation shares have moved 1.23%, while the 5-day performance has seen it change -7.35%. Over the past 30 days, the shares of Centene Corporation (NYSE:CNC) have changed -13.92%. Short interest in the company has seen 7.35 million shares shorted with days to cover at 2.29.

Wall Street analysts have a consensus price target for the stock at $104.74, which means that the shares’ value could jump 20.36% from current levels. The projected low price target is $88.00 while the price target rests at a high of $116.00. In that case, then, we find that the current price level is -39.07% off the targeted high while a plunge would see the stock gain -5.5% from current levels.

Centene Corporation (CNC) estimates and forecasts

Figures show that Centene Corporation shares have outperformed across the wider relevant industry. The company’s shares have lost -3.85% over the past 6 months, with this year growth rate of 10.68%, compared to -5.00% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are -2.40% and -9.90% for the next quarter. Revenue growth from the last financial year stood is estimated to be 13.60%.

15 analysts offering their estimates for the company have set an average revenue estimate of $35.39 billion for the current quarter. 15 have an estimated revenue figure of $34.81 billion for the next quarter concluding in Dec 2022. Year-ago sales stood $32.41 billion and $32.57 billion respectively for this quarter and the next, and analysts expect sales will grow by 9.20% for the current quarter and 6.90% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 6.00% over the past 5 years. Earnings growth for 2022 is a modest -26.90% while over the next 5 years, the company’s earnings are expected to increase by 12.48%.

CNC Dividends

Centene Corporation is expected to release its next earnings report between April 25 and April 29 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Centene Corporation (NYSE:CNC)’s Major holders

Insiders own 0.94% of the company shares, while shares held by institutions stand at 97.10% with a share float percentage of 98.03%. Investors are also buoyed by the number of investors in a company, with Centene Corporation having a total of 1,201 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 63.61 million shares worth more than $5.36 billion. As of Mar 30, 2022, Vanguard Group, Inc. (The) held 10.97% of shares outstanding.

The other major institutional holder is Capital World Investors, with the holding of over 50.54 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $4.25 billion and represent 8.71% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Fundamental Investors Inc and Vanguard Total Stock Market Index Fund. As of Jun 29, 2022, the former fund manager holds about 3.98% shares in the company for having 23.11 million shares of worth $1.96 billion while later fund manager owns 16.82 million shares of worth $1.42 billion as of Mar 30, 2022, which makes it owner of about 2.90% of company’s outstanding stock.

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