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Centene (CNC) Gains As Market Dips: What You Should Know
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Centene (CNC - Free Report) closed at $56.23 in the latest trading session, marking a +0.25% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.69%. Elsewhere, the Dow lost 0.87%, while the tech-heavy Nasdaq lost 0.79%.
Coming into today, shares of the healthcare company had gained 8.79% in the past month. In that same time, the Medical sector lost 0.97%, while the S&P 500 lost 4.53%.
Investors will be hoping for strength from CNC as it approaches its next earnings release. In that report, analysts expect CNC to post earnings of $1.26 per share. This would mark year-over-year growth of 40%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.99 billion, up 26.85% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.38 per share and revenue of $73.26 billion. These totals would mark changes of +23.73% and +21.87%, respectively, from last year.
Any recent changes to analyst estimates for CNC should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 has moved 0.25% higher. CNC is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, CNC is currently trading at a Forward P/E ratio of 12.82. This valuation marks a discount compared to its industry's average Forward P/E of 14.24.
Also, we should mention that CNC has a PEG ratio of 0.95. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - HMOs stocks are, on average, holding a PEG ratio of 1 based on yesterday's closing prices.
The Medical - HMOs industry is part of the Medical sector. This group has a Zacks Industry Rank of 19, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CNC in the coming trading sessions, be sure to utilize Zacks.com.
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Centene (CNC) Gains As Market Dips: What You Should Know
Centene (CNC - Free Report) closed at $56.23 in the latest trading session, marking a +0.25% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.69%. Elsewhere, the Dow lost 0.87%, while the tech-heavy Nasdaq lost 0.79%.
Coming into today, shares of the healthcare company had gained 8.79% in the past month. In that same time, the Medical sector lost 0.97%, while the S&P 500 lost 4.53%.
Investors will be hoping for strength from CNC as it approaches its next earnings release. In that report, analysts expect CNC to post earnings of $1.26 per share. This would mark year-over-year growth of 40%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.99 billion, up 26.85% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.38 per share and revenue of $73.26 billion. These totals would mark changes of +23.73% and +21.87%, respectively, from last year.
Any recent changes to analyst estimates for CNC should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 has moved 0.25% higher. CNC is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, CNC is currently trading at a Forward P/E ratio of 12.82. This valuation marks a discount compared to its industry's average Forward P/E of 14.24.
Also, we should mention that CNC has a PEG ratio of 0.95. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - HMOs stocks are, on average, holding a PEG ratio of 1 based on yesterday's closing prices.
The Medical - HMOs industry is part of the Medical sector. This group has a Zacks Industry Rank of 19, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CNC in the coming trading sessions, be sure to utilize Zacks.com.