Market Update (NASDAQ:CERN): Cerner Reports First Quarter 2016 Results

[GlobeNewswire] – KANSAS CITY, Mo., May 05, 2016– Cerner Corporation today announced results for the 2016 first quarter that ended April 2, 2016.. Bookings in the first quarter of 2016 were $1.17 billion, which is basically … Read more on this. Cerner Corporation (CERN) , with a current value of $18.74B, began trading this morning at $55.72. Today’s price range has been between $55.35 and $56.37 per share with a trailing 52-week range being $49.59 to $75.00. Priced at 23.71x this year’s forecasted earnings, CERN shares are relatively expensive compared to the industry’s 6.53x forward p/e ratio. According to a consensus of 24 analysts, the earnings estimate of $0.53 per share would be $0.08 better than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $2.35 which would be a $0.24 better than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.17 Billion. If realized, that would be a 17.46% increase over the year-ago quarter. More recently, Goldman downgraded CERN from Buy to Neutral (Feb 23, 2016). Previously, RBC Capital Mkts upgraded CERN from Outperform to Top Pick. When considering if perhaps the stock is under or overvalued, the average price target is $64.23, which is 15.27% above where the stock opened this morning. See more in (NASDAQ:CERN) Similar Articles: Market Update: Cerner Corporation (NASDAQ:CERN) – Cerner to Release First Quarter 2016 Earnings Results May 5 Market Update: Cerner Corporation (NASDAQ:CERN) – Cerner (CERN) Stock Dips Following Q4 Results Company Update: Cerner Corporation (NASDAQ:CERN) – Cerner shares drop following outlook, earnings
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