Centene (NYSE:CNC) Guidance in Line with Expectations

Centene (NYSE:CNC) released EPS and revenue estimates for 2011 recently, and they're pretty much in line with analysts' expectations.

Barclays (NYSE:BCS) said, "Yesterday, Centene announced that 2011 earnings per share would be up 12%-18%, consistent with both previous comments and the Street consensus, and basically in line with our estimate. CNC is guiding to revenues in the range of $4.9-$5.1 billion, up 14%-19%, and EPS in the range of $2.00-$2.10 per share. The earnings guidance compares to our previous estimate of $2.10 per share, but the Street consensus of $2.04 per share. The underlying metrics suggest a slight rise in the MLR, offset by improvement in the G&A ratio. This is wholly in line with comments from the company 6 weeks ago as well as what we believe current expectations are...With yesterday's guidance, we are lowering our 2011 EPS by 5 cents to reflect the midpoint of Centene's range, to $2.05. In addition, we are maintaining our 2010 EPS estimate of $1.82."

Barclays maintains an "Underweight" rating on Centene, which closed Friday at $25.40, up $0.31, or 1.24 percent. Barclays has a price target of $25 on them.