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Centene (CNC) Stock Moves -1.46%: What You Should Know
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Centene (CNC - Free Report) closed the most recent trading day at $67.95, moving -1.46% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.53%. Meanwhile, the Dow lost 1.72%, and the Nasdaq, a tech-heavy index, lost 3.27%.
Prior to today's trading, shares of the healthcare company had lost 2.89% over the past month. This has lagged the Medical sector's loss of 1.71% and the S&P 500's loss of 1.28% in that time.
Wall Street will be looking for positivity from Centene as it approaches its next earnings report date. On that day, Centene is projected to report earnings of $2.33 per share, which would represent year-over-year growth of 27.32%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $36.56 billion, down 1.68% from the year-ago period.
CNC's full-year Zacks Consensus Estimates are calling for earnings of $6.33 per share and revenue of $142.27 billion. These results would represent year-over-year changes of +9.52% and -1.57%, respectively.
It is also important to note the recent changes to analyst estimates for Centene. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.28% higher. Centene is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Centene is holding a Forward P/E ratio of 10.9. Its industry sports an average Forward P/E of 14.22, so we one might conclude that Centene is trading at a discount comparatively.
Also, we should mention that CNC has a PEG ratio of 0.81. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CNC's industry had an average PEG ratio of 0.86 as of yesterday's close.
The Medical - HMOs industry is part of the Medical sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% 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) Stock Moves -1.46%: What You Should Know
Centene (CNC - Free Report) closed the most recent trading day at $67.95, moving -1.46% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.53%. Meanwhile, the Dow lost 1.72%, and the Nasdaq, a tech-heavy index, lost 3.27%.
Prior to today's trading, shares of the healthcare company had lost 2.89% over the past month. This has lagged the Medical sector's loss of 1.71% and the S&P 500's loss of 1.28% in that time.
Wall Street will be looking for positivity from Centene as it approaches its next earnings report date. On that day, Centene is projected to report earnings of $2.33 per share, which would represent year-over-year growth of 27.32%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $36.56 billion, down 1.68% from the year-ago period.
CNC's full-year Zacks Consensus Estimates are calling for earnings of $6.33 per share and revenue of $142.27 billion. These results would represent year-over-year changes of +9.52% and -1.57%, respectively.
It is also important to note the recent changes to analyst estimates for Centene. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.28% higher. Centene is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Centene is holding a Forward P/E ratio of 10.9. Its industry sports an average Forward P/E of 14.22, so we one might conclude that Centene is trading at a discount comparatively.
Also, we should mention that CNC has a PEG ratio of 0.81. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CNC's industry had an average PEG ratio of 0.86 as of yesterday's close.
The Medical - HMOs industry is part of the Medical sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% 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.