Wall Street brokerages expect WellCare Health Plans, Inc. (NYSE:WCG) to post $3.50 earnings per share for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for WellCare Health Plans’ earnings, with the lowest EPS estimate coming in at $3.38 and the highest estimate coming in at $3.64. WellCare Health Plans posted earnings per share of $4.08 in the same quarter last year, which would suggest a negative year-over-year growth rate of 14.2%. The firm is expected to issue its next quarterly earnings report on Tuesday, October 30th.
According to Zacks, analysts expect that WellCare Health Plans will report full-year earnings of $10.88 per share for the current year, with EPS estimates ranging from $10.80 to $10.98. For the next year, analysts expect that the firm will post earnings of $12.39 per share, with EPS estimates ranging from $11.71 to $12.79. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover WellCare Health Plans.
WellCare Health Plans (NYSE:WCG) last released its earnings results on Tuesday, July 31st. The company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.03 by $0.66. The business had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.65 billion. WellCare Health Plans had a net margin of 2.69% and a return on equity of 19.20%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.52 EPS.
A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of WellCare Health Plans from a “neutral” rating to an “overweight” rating and increased their target price for the company from $223.00 to $287.00 in a research report on Wednesday, June 27th. BMO Capital Markets increased their target price on shares of WellCare Health Plans from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, May 31st. SunTrust Banks assumed coverage on shares of WellCare Health Plans in a research report on Monday, June 11th. They set a “buy” rating and a $270.00 target price for the company. ValuEngine raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a research report on Tuesday, June 5th. Finally, Barclays increased their target price on shares of WellCare Health Plans from $288.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, August 1st. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $267.94.
NYSE:WCG opened at $300.24 on Friday. The company has a market cap of $13.61 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 1.88 and a beta of 0.96. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.27 and a quick ratio of 1.27. WellCare Health Plans has a fifty-two week low of $162.25 and a fifty-two week high of $305.74.
Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of WellCare Health Plans by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,077,020 shares of the company’s stock worth $265,204,000 after buying an additional 21,813 shares during the period. Advisors Asset Management Inc. grew its position in shares of WellCare Health Plans by 1.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 10,794 shares of the company’s stock worth $2,658,000 after buying an additional 182 shares during the period. HighPoint Advisor Group LLC acquired a new stake in shares of WellCare Health Plans during the 2nd quarter worth approximately $285,000. Castleark Management LLC acquired a new stake in shares of WellCare Health Plans during the 2nd quarter worth approximately $8,047,000. Finally, MetLife Investment Advisors LLC grew its position in shares of WellCare Health Plans by 1.2% during the 2nd quarter. MetLife Investment Advisors LLC now owns 28,129 shares of the company’s stock worth $6,926,000 after buying an additional 340 shares during the period. 97.39% of the stock is owned by institutional investors.
WellCare Health Plans Company Profile
WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare 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 for qualifying families who are not eligible for Medicaid.
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