Cerner Co. (NASDAQ:CERN) Expected to Announce Earnings of $0.82 Per Share

Equities research analysts forecast that Cerner Co. (NASDAQ:CERN) will announce earnings per share (EPS) of $0.82 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Cerner’s earnings. The lowest EPS estimate is $0.81 and the highest is $0.83. Cerner posted earnings of $0.72 per share in the same quarter last year, which would suggest a positive year over year growth rate of 13.9%. The firm is expected to report its next earnings report before the market opens on Friday, October 29th.

According to Zacks, analysts expect that Cerner will report full-year earnings of $3.25 per share for the current year, with EPS estimates ranging from $3.25 to $3.27. For the next financial year, analysts forecast that the firm will report earnings of $3.65 per share, with EPS estimates ranging from $3.58 to $3.79. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Cerner.

Cerner (NASDAQ:CERN) last announced its quarterly earnings data on Thursday, July 29th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. Cerner had a return on equity of 18.32% and a net margin of 12.54%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year.

A number of analysts have recently commented on the company. Piper Sandler boosted their price target on Cerner from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, July 30th. Canaccord Genuity upped their target price on Cerner from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, August 2nd. SVB Leerink reiterated a “buy” rating on shares of Cerner in a report on Sunday. Finally, Morgan Stanley boosted their price target on Cerner from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 31st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $84.40.

In other news, EVP Daniel Devers sold 9,000 shares of the stock in a transaction on Tuesday, August 24th. The stock was sold at an average price of $77.45, for a total value of $697,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael R. Battaglioli sold 7,000 shares of the firm’s stock in a transaction on Friday, August 6th. The stock was sold at an average price of $80.15, for a total value of $561,050.00. Following the transaction, the chief accounting officer now directly owns 9,402 shares of the company’s stock, valued at $753,570.30. The disclosure for this sale can be found here. Insiders have sold 28,739 shares of company stock valued at $2,273,398 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Private Capital Group LLC grew its stake in Cerner by 601.8% during the third quarter. Private Capital Group LLC now owns 386 shares of the company’s stock worth $27,000 after purchasing an additional 331 shares during the period. CSat Investment Advisory L.P. boosted its position in shares of Cerner by 53.9% during the 1st quarter. CSat Investment Advisory L.P. now owns 528 shares of the company’s stock worth $38,000 after purchasing an additional 185 shares in the last quarter. Koshinski Asset Management Inc. bought a new stake in Cerner in the 3rd quarter valued at about $41,000. CX Institutional raised its stake in Cerner by 141.3% during the 2nd quarter. CX Institutional now owns 724 shares of the company’s stock worth $57,000 after buying an additional 424 shares during the period. Finally, Castleview Partners LLC acquired a new stake in Cerner in the second quarter valued at approximately $59,000. Hedge funds and other institutional investors own 85.59% of the company’s stock.

NASDAQ:CERN traded down $0.83 on Monday, reaching $70.59. The company’s stock had a trading volume of 33,721 shares, compared to its average volume of 2,449,995. Cerner has a 1-year low of $67.96 and a 1-year high of $84.20. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.63 and a current ratio of 1.65. The firm has a market cap of $20.87 billion, a PE ratio of 30.86, a PEG ratio of 2.22 and a beta of 0.73. The business’s 50-day moving average price is $74.78 and its two-hundred day moving average price is $76.59.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 12th. Shareholders of record on Monday, September 27th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.25%. The ex-dividend date was Friday, September 24th. Cerner’s payout ratio is presently 35.92%.

About Cerner

Cerner Corp. designs, develops, markets, installs, hosts and supports health care information technology, health care devices, hardware and content solutions for health care organizations and consumers. The company also provides value-added services, including implementation and training, remote hosting, operational management services, revenue cycle services, support and maintenance, health care data analysis, clinical process optimization, transaction processing, employee wellness programs and third party administrator services for employer-based health plans.

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