Stock Update (NASDAQ:CERN): Cerner Announces Share Repurchase Program

[GlobeNewswire] – KANSAS CITY, Mo., March 08, 2016– Cerner Corporation today announced that its board of directors approved a stock repurchase program on March 7, 2016, at its regularly scheduled Board meeting, authorizing … Read more on this. Cerner Corporation (CERN) , with a current value of $18.00B, started the session at $52.57. During today’s session, CERN traded between $52.28 to $53.15 and has traded between $49.59 and $75.72 over the past 12 months. Cerner (CERN) shares are currently priced at 22.39x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 3.33x earnings multiple for the same period. In a review of the consensus earnings estimate this quarter, 23 sell-side analysts are looking at $0.53 per share, which 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 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.17 Billion. If reported, 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. Investors should keep in mind is that the average price target is $64.00, which is 21.74% above where the stock opened this morning. See more in (NASDAQ:CERN) Similar Articles: Market Update: Cerner Corporation (NASDAQ:CERN) – Cerner (CERN) Stock Dips Following Q4 Results Market Update: Cerner Corporation (NASDAQ:CERN) – Cerner (CERN) Stock Falls on Weak Guidance Stock Update: Cerner Corporation (NASDAQ:CERN) – Cerner (CERN) Stock Down in After-Hours Trading on Earnings Results