Stocks Getting Their Groove Back: Centene Corporation (CNC), FGL Holdings (FG)

Centene Corporation (NYSE:CNC) rose 5.23% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a rally that has seen it rise 16.81% and is now up by 3% since start of this year. A look at its monthly performance shows that the stock has recorded a -5.82% fall over the past 30 days. Its equity price dipped by -10.59% over the past three months which led to its overall six-month decrease to stand at -17.69%.

The shares of Centene Corporation (CNC) dropped by -20.28% or -$15.11 from its last recorded high of $74.49 which it attained on April 12 to close at $59.38 per share. Over the past 52 weeks, the shares of Centene Corporation has been trading as low as $50 before witnessing a massive surge by 18.76% or $9.38. This price movement has led to the CNC stock receiving more attention and has become one to watch out for. It dipped by -1% on Thursday and this got the market worried. The stock’s beta now stands at 1.31 and when compared to its 200-day moving average and its 50-day moving average, CNC price stands -9.57% below and -3.53% below respectively. Its average daily volatility for this week is 2.35% which is less than the 2.53% recorded over the past month.

Experts from research firms are bullish about the near-term performance of Centene Corporation with most of them predicting a $78.45 price target on a short-term (12 months) basis. The average price target by the analysts will see a 32.12% rise in the stock and would lead to CNC’s market cap to surge to $32.34B. The stock has been rated an average 1.9, which roughly stands towards the bullish end of the spectrum. Reuters looked into the 22 analysts that track Centene Corporation (NYSE:CNC) and find out that 4 of them rated it as a Hold. 18 of the 18 analysts rated it as a Buy or a Strong Buy while 0 advised investors to desist from buying the stock or sell it if they already possess it.

A look at CNC technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 45.35 point. Its trading volume has lost -1007372 shares compared to readings over the past three months as it recently exchanged 2632628 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 3640000 shares, and this is 0.72 times the normal volume.

The price of FGL Holdings (NYSE:FG) currently stands at $8.58 after it went up by $0.1 or 1.18% and has found a strong support at $8.45 a share. If the FG price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $8.32 mark would also be bad for the stock as it means that the stock would plunge by 3.03% from its current position. However, if the stock price is able to trade above the resistance point around $8.66, then it could likely surge higher to try and break the upward resistance which stands at $8.73 a share. Its average daily volatility over the past one month stands at 2.23%. The stock has plunged by 2.1% from its 52-weeks high of $8.4 which it reached on Mar. 15, 2018. In general, it is 30.89% above its 52-weeks lowest point which stands at $5.93 and this setback was observed on Dec. 26, 2018.

The FG stock Stochastic Oscillator (%D) is at 48.81%, which means that it is currently neutral. The shares P/S ratio stands at 2.61 which compares to the 1.24 recorded by the industry or the 10.69 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 4.91, which is higher than the 0 multiple of 12-month price-earnings (P/E). The company’s earnings have gone down, with a quarterly decrease rate of 0% over the past five years.

Analysts view FGL Holdings (NYSE:FG) as a Hold, with 2.6 consensus rating. Reuters surveyed 7 analysts that follow FG and found that 4 of those analysts rated the stock as a Hold. The remaining 3 were divided, with 3 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying FGL Holdings (FG) shares or sell it if they already own it.