Centene has a 10-year price return of 313.77%, almost double the 179.34% price return of the S&P 500. The company is strategically positioned in the market, and the current favorable trends serve as major growth levers. The stock is undervalued, making it a decent buy.
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Centene (CNC) shares jumped in intraday trading Friday as the managed care provider reported better-than-expected profit and sales and raised its guidance as its premium and services sales and members increased.
Centene's (CNC) second-quarter earnings suffer from rising operating expenses and a decline in Medicaid membership levels. Improved Marketplace membership growth partially offset the negatives.
The headline numbers for Centene (CNC) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
On Friday, Centene Corporation CNC reported second-quarter sales of $39.84 billion, up 5.9% year-over-year, beating the consensus of $36.46 billion.
Centene (CNC) came out with quarterly earnings of $2.42 per share, missing the Zacks Consensus Estimate of $2.44 per share. This compares to earnings of $2.10 per share a year ago.
Centene reported second quarter profits of $1.1 billion as Obamacare enrollment and premium revenue helped overcome a big dip in Medicaid enrollment.
Centene Corp beat Wall Street estimates for second-quarter profit on Friday following the company's announcement that it was no longer required to make a $1.3 billion payment related to its government-sponsored Medicaid offerings.
Centene forecast second-quarter adjusted profit above Wall Street estimates, saying it does not have to make a previously expected payment under a "risk adjustment" program related to its government-backed Medicaid plans.
Beyond analysts' top -and-bottom-line estimates for Centene (CNC), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended June 2024.
Centene's (CNC) second-quarter results are likely to reflect growing contributions from its Commercial business.