Centene tweaks 2020 guidance, warns of potential rate decrease [MarketWatch]
Centene Corporation (CNC)
Last centene corporation earnings: 4/28 06:00 am
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Source: MarketWatch
Centene tweaks 2020 guidance, warns of potential rate decrease Centene Corp. CNC, -2.54% shares fell 3.8% in the extended session Tuesday after the health-care manager tweaked its guidance for 2020 to reflect an acquisition and said it could face a rate reduction. Centene said it expects sales between $104.8 billion and $105.6 billion and per-share earnings between $3.00 and $3.14 for the year. It called for adjusted EPS between $4.56 and $4.76 for 2020. In the same press release, Centene also said it received notice of a potential rate decrease from the state of New York, which could result in a pre-tax net reduction around $200 million. "While not final, we have begun to develop initiatives to mitigate a portion of the potential rates for 2020," Centene said in a statement. "We currently expect $150 million of the adjustment to potentially lower our pre-tax earnings for the year, resulting in a $0.17 reduction to our GAAP and adjusted diluted earnings per share guidance." Shares
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News
- Centene Co. (NYSE: CNC) had its "outperform" rating re-affirmed by analysts at Oppenheimer Holdings Inc.. They now have a $110.00 price target on the stock.MarketBeat
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- Centene (CNC) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
CNC
Earnings
- 4/26/24 - Beat
CNC
Sec Filings
- 4/29/24 - Form 4
- 4/26/24 - Form 10-Q
- 4/26/24 - Form 8-K
- CNC's page on the SEC website