Posted by ABMN Staff on Nov
16th, 2019
Equities research analysts expect that
WellCare Health Plans, Inc. (NYSE:WCG) will report earnings of $2.18 per share
for the current fiscal quarter, Zacks Investment Research reports.
Four analysts have made estimates for WellCare Health Plans’ earnings, with
estimates ranging from $1.96 to $2.31. WellCare Health Plans posted earnings of
$1.63 per share during the same quarter last year, which suggests a positive
year-over-year growth rate of 33.7%. The company is scheduled to announce its
next quarterly earnings results on Tuesday, February 4th.
On average, analysts expect that WellCare
Health Plans will report full year earnings of $15.42 per share for the current
financial year, with EPS estimates ranging from $13.98 to $15.78. For the next
fiscal year, analysts anticipate that the business will post earnings of $16.99
per share, with EPS estimates ranging from $16.39 to $18.21. Zacks’ earnings
per share averages are an average based on a survey of sell-side analysts that
that provide coverage for WellCare Health Plans.
WellCare Health Plans (NYSE:WCG) last posted
its quarterly earnings data on Wednesday, October 30th. The company reported
$5.50 earnings per share for the quarter, topping the Thomson Reuters’
consensus estimate of $3.93 by $1.57. WellCare Health Plans had a net margin of
2.34% and a return on equity of 17.00%. The business had revenue of $7.14
billion during the quarter, compared to analysts’ expectations of $6.79
billion. During the same quarter in the prior year, the business posted $3.33
earnings per share. WellCare Health Plans’s revenue was up 41.2% compared to
the same quarter last year.
Several equities research analysts recently
weighed in on WCG shares. ValuEngine cut shares of WellCare
Health Plans from a “hold” rating to a “sell” rating in a research report on
Friday, November 1st. Stephens cut shares of WellCare Health Plans from an “overweight”
rating to an “equal weight” rating and cut their price objective for the stock
from $330.00 to $317.00 in a research report on Monday, September 9th. Finally,
Cantor Fitzgerald cut shares of WellCare Health Plans from an “overweight”
rating to a “neutral” rating in a research report on Tuesday, July 30th. One
analyst has rated the stock with a sell rating, five have given a hold rating
and three have assigned a buy rating to the company. The company has an average
rating of “Hold” and a consensus target price of $304.83.
WCG traded up $10.36 on Friday, hitting
$312.16. 386,691 shares of the stock were exchanged, compared to its average
volume of 678,294. WellCare Health Plans has a 12 month low of $220.63 and a 12
month high of $314.43. The business has a 50-day moving average of $278.00 and
a two-hundred day moving average of $277.87. The company has a debt-to-equity
ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16. The firm has
a market capitalization of $15.32 billion, a price-to-earnings ratio of 28.30,
a PEG ratio of 1.35 and a beta of 0.91.
A number of hedge funds and other
institutional investors have recently modified their holdings of the business.
Vanguard Group Inc. raised its stake in WellCare Health Plans by 1.8% during
the second quarter. Vanguard Group Inc. now owns 5,381,421 shares of the
company’s stock worth $1,534,082,000 after acquiring an additional 94,109
shares in the last quarter. Magnetar Financial LLC raised its stake in WellCare
Health Plans by 53.6% during the second quarter. Magnetar Financial LLC now
owns 912,876 shares of the company’s stock worth $260,234,000 after acquiring
an additional 318,581 shares in the last quarter. JPMorgan Chase & Co.
raised its stake in WellCare Health Plans by 8.5% during the second quarter.
JPMorgan Chase & Co. now owns 743,510 shares of the company’s stock worth
$212,696,000 after acquiring an additional 58,374 shares in the last quarter.
Paulson & CO. Inc. raised its stake in WellCare Health Plans by 86.6%
during the second quarter. Paulson & CO. Inc. now owns 587,700 shares of
the company’s stock worth $167,536,000 after acquiring an additional 272,800
shares in the last quarter. Finally, Northern Trust Corp raised its stake in
WellCare Health Plans by 3.6% during the second quarter. Northern Trust Corp
now owns 553,527 shares of the company’s stock worth $157,794,000 after
acquiring an additional 19,411 shares in the last quarter. 91.64% of the stock
is owned by hedge funds and other institutional investors.
WellCare Health Plans Company Profile
WellCare Health Plans,
Inc provides government-sponsored managed care services. The company operates
in three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare
Prescription Drug Plans (PDPs). The Medicaid Health Plans segment offers plans
for beneficiaries of temporary assistance for needy families, supplemental
security income, and aged blind and disabled residents; and other state-based
programs, such as children's health insurance programs and long-term services
and supports programs for qualifying families who are not eligible for
Medicaid.
For more information about research offerings
from Zacks Investment Research, visit Zacks.com
No comments:
Post a Comment