Morgan Stanley Comments On Centene Q1

According to Morgan Stanley, Centene Corp (NYSE: CNC) Q1 looks solid.

Morgan Stanley said that CNC reported Q1/11 EPS of $0.46, a bit ahead of its and Street forecasts of $0.42. “This excluded ~$0.07 in earnings associated with the new Mississippi business, as the contract remains subject to CMS approval. Earnings overage in the quarter stemmed from a lower MLR, as it appears CNC benefited from lower utilization in the early parts of 2011.”

Centene Corp closed yesterday at $32.15.