The Centene Corporation (NYSE:CNC) is going down by -0.78% in today’s trading session, a fall equivalent to -0.47% of the stock’s price from yesterday’s market close. A news came out 16 hours ago stating that Centene Corporation Announces Extension of Exchange Offers and Consent Solicitations for WellCare Notes by WSJ. The lowest point that the shares touched during the trading session was $59.4125, while the peak of the day was recorded at a share price of $60.92. CNC finished the previous session at $60.18 according to the data provided by Barchart, while the trading volume was observed to be $1068234.
In the 100 days of trading, CNC managed to top a 49.65% Moving average. Additionally, Centene Corporation shares have achieved a 52-week range between 41.62 and 74.49 alongside 100 days raw stochastic set at 90.77%.
The number of shares outstanding, according to the fundamentals of the company, is set at 413.59M, equal to the value of $24.89B in market capitalization. In the last 30 days, Centene Corporation shares went down by -2.96%, adding 61.28 to growth in value, on top of a +17.04% boost since 11/01/19.
Centene Corporation (NYSE:CNC) Analyst’s Estimates
Centene Corporation (CNC) could record at least $0.73 per share in quarterly earnings in the upcoming report on 02/11/2020, a number that would actually represent an increase of 4.84 YOY.
According to the average analyst rating, Centene Corporation would be rated as Buy. Out of 17 different analysts monitoring CNC stock, 14 analysts rate the stock as a BUY, 2 suggest to give the rating of HOLD, 1 indicate that CNC is an OVERWEIGHT, 0 rated the stock as a SELL, and 0 analyst believes that the stock should be rated as UNDERWEIGHT.
On September 12, 2019, the stock earned a Initiated rating due to a new analyst call from Deutsche Bank, while analysts from Citigroup believe that the stock is set at Buy from Neutral, as concluded on May 10, 2019. Stephens, is still rather wary about the stock, deciding to keep the rating at Overweight as confirmed through a call on January 14, 2019.
Citigroup, on the other hand, provided a rather enthusiastic opinion on the rating, concluded in an analyst call on July 18, 2018, giving the stock a Neutral rating.
CNC Key Ratios To Watch:
Taking in account the profitability of the Company, the operating margin has been recorded at +2.43. The firm is also showcasing profitability through returns on assets in the company’s ownership, with ROA set at 3.41%. Beta value of the stock is recorded at 0.90. Additionally, Centene Corporation is recording price volatility of 2.16% for the period of the last seven days and 2.78% in the last 30 days.
Centene Corporation (NYSE:CNC) Technical Outlook
For the period of the last 50 days, Centene Corporation had its Raw Stochastic average set at 90.77% for the latest technical analysis. In comparison to the period of the last 20 days, the present Raw Stochastic average for the last 50 days poses as improvement, set at 82.67%. Stochastic %K for Centene Corporation, with the last 20 days included, was set at 88.11%, having Stochastic %D topping 90.45%. Based on the previous performance of the company for the mentioned period, there are more than several recorded moving trends. When it comes to the period of the last 12 months, accounting the time for year-to-date, price performance appears to be encouraging for Centene Corporation stocks with recording 4.39% in metrics.
Centene Corporation Insider Watch:
Similarly, 94.58% of the company’s float is held by institutions – and there are 1,024 institutions in total holding shares of this company. The top three institutional holders of CNC stocks are: Vanguard Group, Inc. (The) with ownership of $1.93 billion, which is approximately 44659172 of the company’s shares; Blackrock Inc., holding 32156478 shares of the stock with an approximate value of $1.39 billion; and Capital World Investors, currently with more than 31732303 shares of the company valued at $1.37 billion. Positions in Centene Corporation stocks held by institutional investors has been changing actively in the past six months, a period during which there were 16 insider purchases amounting to 408252 shares. Similarly, there were 4 sale transactions amounting to 255000 shares, with the net shares purchased during the last six months reaching 153,252.