Centene Corp. (NYSE:CNC) has a beta value of 0.38 and has seen 0.56 million shares traded in the recent trading session. The company, currently valued at $41.77B, closed the recent trade at $78.09 per share which meant it lost -$0.61 on the day or -0.78% during that session. The CNC stock price is -4.26% off its 52-week high price of $81.42 and 22.1% above the 52-week low of $60.83. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.34 million shares traded. The 3-month trading volume is 2.96 million shares.
Centene Corp. (NYSE:CNC) trade information
Sporting -0.78% in the red today, the stock has traded in the green over the last five days, when the CNC stock price touched $78.09 or saw a rise of 1.11%. Year-to-date, Centene Corp. shares have moved 5.23%, while the 5-day performance has seen it change 1.79%. Over the past 30 days, the shares of Centene Corp. (NYSE:CNC) have changed -1.51%. Short interest in the company has seen 8.84 million shares shorted with days to cover at 3.14.
Centene Corp. (CNC) estimates and forecasts
Figures show that Centene Corp. shares have outperformed across the wider relevant industry. The company’s shares have gained 15.09% over the past 6 months, with this year growth rate of 1.05%, compared to -1.70% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 1.40% and -7.10% for the next quarter. Revenue growth from the last financial year stood is estimated to be -4.90%.
13 analysts offering their estimates for the company have set an average revenue estimate of $36.52 billion for the current quarter. 13 have an estimated revenue figure of $36.07 billion for the next quarter concluding in Jun 2024. Year-ago sales stood $36.03 billion and $36.47 billion respectively for this quarter and the next, and analysts expect sales will grow by 1.40% for the current quarter and -1.10% 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 17.00% over the past 5 years. Earnings growth for 2024 is a modest 1.42% while over the next 5 years, the company’s earnings are expected to increase by 11.71%.
CNC Dividends
Centene Corp. is expected to release its next earnings report on April 26 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Centene Corp. (NYSE:CNC)’s Major holders
Insiders own 0.40% of the company shares, while shares held by institutions stand at 98.38% with a share float percentage of 98.78%. Investors are also buoyed by the number of investors in a company, with Centene Corp. having a total of 1,286 institutions that hold shares in the company. The top two institutional holders are Vanguard Group Inc with over 61.19 million shares worth more than $4.78 billion. As of Dec 30, 2023, Vanguard Group Inc held 11.44% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 40.82 million shares as of Dec 30, 2023. The firm’s total holdings are worth over $3.19 billion and represent 7.63% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Fundamental Investors Inc. As of Dec 30, 2023, the former fund manager holds about 3.14% shares in the company for having 16.8 million shares of worth $1.31 billion while later fund manager owns 15.75 million shares of worth $1.23 billion as of Dec 30, 2023, which makes it owner of about 2.95% of company’s outstanding stock.
