Analysts Anticipate Cerner Co. (NASDAQ:CERN) Will Announce Quarterly Sales of $1.40 Billion


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Wall Street analysts predict that Cerner Co. (NASDAQ:CERN) will post sales of $1.40 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Cerner’s earnings, with the highest sales estimate coming in at $1.42 billion and the lowest estimate coming in at $1.39 billion. Cerner posted sales of $1.41 billion during the same quarter last year, which suggests a negative year over year growth rate of 0.7%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, May 5th.

According to Zacks, analysts expect that Cerner will report full year sales of $5.83 billion for the current year, with estimates ranging from $5.75 billion to $5.86 billion. For the next year, analysts expect that the firm will post sales of $6.15 billion, with estimates ranging from $5.98 billion to $6.24 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Cerner.

Cerner (NASDAQ:CERN) last posted its quarterly earnings data on Tuesday, February 9th. The company reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.39 billion. Cerner had a net margin of 14.28% and a return on equity of 18.14%. The company’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 earnings per share.

A number of equities analysts have recently weighed in on the stock. UBS Group lowered shares of Cerner from a “buy” rating to a “neutral” rating and set a $82.00 price objective for the company. in a research report on Thursday, February 11th. KeyCorp boosted their price objective on shares of Cerner from $82.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 11th. Bank of America lowered shares of Cerner from a “buy” rating to an “underperform” rating in a research report on Tuesday, January 19th. Truist upped their price target on shares of Cerner from $72.00 to $82.00 in a research report on Thursday, February 11th. Finally, Piper Sandler upped their price target on shares of Cerner from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $81.50.

In other Cerner news, CFO Mark J. Erceg acquired 10,761 shares of the company’s stock in a transaction dated Wednesday, March 3rd. The stock was bought at an average price of $69.66 per share, with a total value of $749,611.26. Also, CFO Mark J. Erceg bought 10,547 shares of the firm’s stock in a transaction dated Wednesday, March 10th. The stock was purchased at an average price of $71.13 per share, with a total value of $750,208.11. Insiders bought 31,963 shares of company stock valued at $2,250,251 in the last three months. Company insiders own 0.33% of the company’s stock.

Several hedge funds have recently made changes to their positions in CERN. Childress Capital Advisors LLC purchased a new position in shares of Cerner in the fourth quarter valued at $27,000. CX Institutional boosted its stake in shares of Cerner by 79.1% in the fourth quarter. CX Institutional now owns 394 shares of the company’s stock valued at $31,000 after purchasing an additional 174 shares during the period. Grant Street Asset Management Inc. purchased a new position in shares of Cerner in the fourth quarter valued at $31,000. Cowa LLC bought a new position in Cerner during the 4th quarter valued at $32,000. Finally, Addison Advisors LLC bought a new position in Cerner during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

Shares of NASDAQ:CERN traded down $0.51 during trading on Thursday, reaching $75.48. The stock had a trading volume of 2,819,969 shares, compared to its average volume of 2,364,187. The business has a fifty day moving average price of $73.47 and a 200-day moving average price of $74.84. The company has a quick ratio of 2.28, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $22.81 billion, a P/E ratio of 29.45, a PEG ratio of 2.35 and a beta of 0.76. Cerner has a fifty-two week low of $63.11 and a fifty-two week high of $84.20.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 20th. Stockholders of record on Tuesday, April 6th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Monday, April 5th. Cerner’s payout ratio is currently 36.51%.

About Cerner

Cerner Corporation, together with its subsidiaries, provides health care information technology solutions and tech-enabled services in the United States and internationally. The company offers Cerner Millennium architecture, a person-centric computing framework, which includes clinical, financial, and management information systems that allow providers to access an individual's electronic health record (EHR) at the point of care, and organizes and delivers information for physicians, nurses, laboratory technicians, pharmacists, front- and back-office professionals, and consumers.

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