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Centene (CNC) Gains As Market Dips: What You Should Know
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Centene (CNC - Free Report) closed at $75.72 in the latest trading session, marking a +0.53% move from the prior day. This change outpaced the S&P 500's 0.67% loss on the day. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.22%.
Coming into today, shares of the healthcare company had lost 9.7% in the past month. In that same time, the Medical sector lost 1.92%, while the S&P 500 lost 3.76%.
Investors will be hoping for strength from Centene as it approaches its next earnings release, which is expected to be October 25, 2022. The company is expected to report EPS of $1.22, down 3.17% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $35.48 billion, up 9.5% from the prior-year quarter.
CNC's full-year Zacks Consensus Estimates are calling for earnings of $5.70 per share and revenue of $143.6 billion. These results would represent year-over-year changes of +10.68% and +13.98%, respectively.
Any recent changes to analyst estimates for Centene should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Centene is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Centene is currently trading at a Forward P/E ratio of 13.21. This represents a discount compared to its industry's average Forward P/E of 20.06.
It is also worth noting that CNC currently has a PEG ratio of 0.93. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Medical - HMOs stocks are, on average, holding a PEG ratio of 1.22 based on yesterday's closing prices.
The Medical - HMOs industry is part of the Medical sector. This group has a Zacks Industry Rank of 37, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Centene (CNC) Gains As Market Dips: What You Should Know
Centene (CNC - Free Report) closed at $75.72 in the latest trading session, marking a +0.53% move from the prior day. This change outpaced the S&P 500's 0.67% loss on the day. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.22%.
Coming into today, shares of the healthcare company had lost 9.7% in the past month. In that same time, the Medical sector lost 1.92%, while the S&P 500 lost 3.76%.
Investors will be hoping for strength from Centene as it approaches its next earnings release, which is expected to be October 25, 2022. The company is expected to report EPS of $1.22, down 3.17% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $35.48 billion, up 9.5% from the prior-year quarter.
CNC's full-year Zacks Consensus Estimates are calling for earnings of $5.70 per share and revenue of $143.6 billion. These results would represent year-over-year changes of +10.68% and +13.98%, respectively.
Any recent changes to analyst estimates for Centene should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Centene is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Centene is currently trading at a Forward P/E ratio of 13.21. This represents a discount compared to its industry's average Forward P/E of 20.06.
It is also worth noting that CNC currently has a PEG ratio of 0.93. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Medical - HMOs stocks are, on average, holding a PEG ratio of 1.22 based on yesterday's closing prices.
The Medical - HMOs industry is part of the Medical sector. This group has a Zacks Industry Rank of 37, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.