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Centene Corporation (CNC)
NYSE - Nasdaq Real Time Price. Currency in USD
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As of 12:39PM EDT. Market open.
407 reactions on $CNC conversation
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Reactions to earnings are so biased its incredible. Read the tremendous difference in the headlines on CNC's quarterly report today - it borders on being comical. "CNC Misses Q2 Earnings Estimates", "Centene Posts Better Than Expected Adjusted Profit - Offers Upbeat Guidance" take your pick but you're doing yourself a disservice if you don't read beyond the headlines.
All the recent positive analyst updates took a backseat to the real news today that CNC pharmacy benefits arm overbilled states - Ohio and Mississippi suits are being settled for $143 million while - in addition to that amount - the company is setting aside an additional $1.1 billion to settle similar lawsuits in other states. I keep getting bit by companies bending the rules - last year it was First Energy this time it's Centene. I'll wait another day to see how the dust settles on this but inasmuch as I got in at the end of April for just under $60 I'm leaning towards bailing out. Other not great news is that an arm of Humana is moving into the Atlanta market going after the same senior market Centene is after.
Maintains Wells Fargo Overweight USD 87 » USD 93
Reiterated by BMO Capital Markets Positive » Outperform USD 88 » USD 93
Target Raised by Mizuho Securities Neutral USD 65 » USD 75
Reiterated by Oppenheimer Holdings Buy USD 90
Yahoo Finance Insights
Centene is up 4.90% to 73.43
Any see a $100 this year
Long 1700 shares on CNC at $62.74. This is a Pure Earnings play., I bought the shares just a few hours ago, specifically to hold through earnings release tomorrow. I am expecting beats on EPS and Revenue consensus estimates, along with good Guidance, to drive this stock up in price to the $68 level. Why did I choose CNC over 70+ other stocks that I analyzed?
Here is a quick summation:
CNC: Excellent earnings history, beats on both EPS and Revenue for the past 6 quarters, and 11 of the past 12 quarters. Very good Guidance history, very good stock price reactions to earnings, historically. Currently trading at fair value, not cheap, but certainly not an expensive valuation. Recent, positive news media articles. Excellent EPS growth over the recent past. Company is very profitable. Analysts are generally bullish, giving very good upside potential on PT's. Many positive and recent analyst comments on numerous aspects of CNC, including merger with Wellcare. Very good overall financials, stable and growing business in a sector I like.
Of course this is all just my subjective opinion, and Best of Luck to everyone with whatever stocks you choose to play! :-)
After I close my ABG Long position on Monday, I will be using almost all of my available hard capital to go Long CNC. This is a Pure Earnings play, CNC reports earnings on Tuesday, PM, and I am expecting a very good earnings report, beats on EPS and Revenue, along with good Guidance, to lift this stock up in price by 4-8%.
I analyzed a whole heck of a lot of different possible plays for Mon AH/Tue PM, and CNC came to the very top, in terms of excellent odds of success and a top risk/reward scenario. Here is a short synopsis of my thinking, along with the second and third place runner-up:
#1 CNC Long: Excellent earnings history, beats on both EPS and Revenue for the past 6 quarters, and 11 of the past 12 quarters. Very good Guidance history, very good stock price reactions to earnings, historically. Currently trading at fair value, not cheap, but certainly not an expensive valuation. Recent, positive news media articles. Excellent EPS growth over the recent past. Company is very profitable. Analysts are generally bullish, giving very good upside potential on PT's. Many positive and recent analyst comments on numerous aspects of CNC, including merger with Wellcare. Very good overall financials, stable and growing business in a sector I like.
#2: RACE Long: Good earnings history. Excellent Guidance history. Very good reactions by stock to ER's. Slightly overvalued right now, but an extremely well-managed company executing on all fronts right now. The rich are getting richer and they want their Ferrari's. Very positive comments by analysts. Good upside potential on PT's. Company has absolutely excellent overall financials at this time. I am especially bullish on forward Guidance for this one. Rates very high, but for me definitely below CNC.
3: BECN Sell Short: This is a very attractive Short Sell play. Company appears very badly managed. They should be profitable, but they are not. Very poor earnings history, have missed either EPS or Revenue consensus for 7 of the last 10 quarters. Recent Guidance has been poor, they guided Down 4 out of the past 6 guidance revisions. Overall financials are below average for the sector. Analysts are mixed, with some seeing a recovery in 2020 for the company, and at least one company insider is buying shares recently. But at this time, based on my analysis, stock is still genuinely over-valued. I am expecting a poor ER, to be followed by a drop in stock price, potentially as much as 8-12%. But I'm still not gonna play this one, CNC still looks better to the upside, in terms of risk/reward analysis.
Other stocks I like a lot on this date, all to go up, include:
Any comments or opinions, positive or negative, are welcome and appreciated. :-)
Best of Luck to All! :-)
I just read an article from Zacks. They have a (5) rating on CNC which is a strong sell. That's a sure buy signal for me.
I guess investors like the new CFO, lol. What else is driving price up?
Numbers and outlook very positive, expect MM to try and drive down early and then lift off later today or tomorrow!
Someone is going to make a lot of money on this over sold stock
Must be profit taking by long-term holders like myself...while I don't see why that makes sense. I bought at $63 and while taking money out would seem logical it would be in conflict w/ CNC RAISING their guidance in the earnings call. Bullish on this stock and think it will be heading upward again in just a few days.
Say what you want about CNC’s value. It is trading at 1.26x book value - unbelievably undervalued even if they lose a chunk from Obamacare rulings. If it drops any lower - the market cap would be under $30B. I wonder if a United Healthcare or Humana might take a shot at a merger/acquisition...esp with CNC holding over $14B in cash.
Good morning longs, I thought this was a good opportunity to add to my portfolio last Thursday. GLTA!
great acquisition news...buying thru 70...great trigger in an expanding market for insured mental/addiction health treatments
CNC will continue to make money and grow. That’s all that really matters long term.
About to be a year since I opened my position in this stock, and ever since it’s been nothing but good news, yet I’m down big
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