In the latest trading session, Centene (CNC - Free Report) closed at $45.33, marking a -0.98% move from the previous day. This change lagged the S&P 500's daily gain of 0.62%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 1.05%.
Heading into today, shares of the healthcare company had gained 1.67% over the past month, outpacing the Medical sector's gain of 1.66% and lagging the S&P 500's gain of 3.85% in that time.
Wall Street will be looking for positivity from CNC as it approaches its next earnings report date. This is expected to be October 22, 2019. In that report, analysts expect CNC to post earnings of $0.96 per share. This would mark year-over-year growth of 6.67%. Our most recent consensus estimate is calling for quarterly revenue of $18.39 billion, up 13.62% from the year-ago period.
CNC's full-year Zacks Consensus Estimates are calling for earnings of $4.42 per share and revenue of $73.74 billion. These results would represent year-over-year changes of +24.86% and +22.67%, respectively.
It is also important to note the recent changes to analyst estimates for CNC. These revisions help to show the ever-changing nature of 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. The Zacks Consensus EPS estimate has moved 0.01% higher within the past month. CNC is currently a Zacks Rank #3 (Hold).
Digging into valuation, CNC currently has a Forward P/E ratio of 10.37. This valuation marks a discount compared to its industry's average Forward P/E of 15.37.
Meanwhile, CNC's PEG ratio is currently 0.73. 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. The Medical - HMOs was holding an average PEG ratio of 1.01 at yesterday's closing price.
The Medical - HMOs industry is part of the Medical sector. This group has a Zacks Industry Rank of 46, putting it in the top 18% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.