Earnings Review: Centene Corporation (NYSE: CNC)

On Friday, Shares of Centene Corporation (NYSE: CNC) showed the bullish trend with a higher momentum of 1.85% to $118.23. The company traded total volume of 2,361,298 shares as contrast to its average volume of 1.84M shares. The company has a market value of $24.26B and about 205.22M shares outstanding.

Centene Corp. (CNC) stated third-quarter net income of $19.0M. On a per-share basis, the St. Louis-based company said it had profit of 9 cents. Earnings, adjusted for one-time gains and costs, came to $1.79 per share. The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.77 per share.

The healthcare company posted revenue of $16.18B in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $16.09B. Centene anticipates full-year earnings in the range of $6.90 to $7.10 per share, with revenue in the range of $59.80B to $60.30B.

The Company offered net profit margin of 1.60%. ROE was recorded as 10.00% while beta factor was 1.32. The stock, as of recent close, has shown the weekly upbeat performance of 4.63% which was maintained at 2.54% in this year.

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