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Centene (CNC) Stock Moves -0.28%: What You Should Know

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Centene (CNC) closed the most recent trading day at $81.21, moving -0.28% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.75%. At the same time, the Dow lost 0.54%, and the tech-heavy Nasdaq gained 0.15%.

Coming into today, shares of the healthcare company had gained 1.37% in the past month. In that same time, the Medical sector gained 0.21%, while the S&P 500 gained 0.32%.

Investors will be hoping for strength from Centene as it approaches its next earnings release. In that report, analysts expect Centene to post earnings of $1.51 per share. This would mark year-over-year growth of 20.8%. Our most recent consensus estimate is calling for quarterly revenue of $35.34 billion, up 13.92% from the year-ago period.

CNC's full-year Zacks Consensus Estimates are calling for earnings of $5.49 per share and revenue of $141.55 billion. These results would represent year-over-year changes of +6.6% and +12.36%, respectively.

Investors might also notice recent changes to analyst estimates for Centene. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 0.57% higher. Centene is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, Centene is holding a Forward P/E ratio of 14.82. This represents a discount compared to its industry's average Forward P/E of 17.33.

Also, we should mention that CNC has a PEG ratio of 1.05. 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. The Medical - HMOs industry currently had an average PEG ratio of 1.18 as of yesterday's close.

The Medical - HMOs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 79, which puts it in the top 32% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.

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