Cerner Corporation (NASDAQ: CERN) stock fell over 4.1% during the afterhours trading session on February 9th, 2017 (Source: Google finance).
Cerner Corporation (NASDAQ: CERN) has reported the adjusted earnings per share of $0.61 in the fourth quarter 2016 ended 31st December, which is in line with the analysts’ estimates for the adjusted earnings per share of $0.61. The company had reported the adjusted revenue growth of 7 percent to $1.3 billion in the fourth quarter 2016, which is also in line with the analysts’ estimates. Moreover, as per the company’s guidance given in November, the company hit the upper end of that range as CERN had expected the revenue between $1.225 billion and $1.300 billion. CERN had also projected the adjusted earnings per share (EPS) in the range of $0.60 to $0.62 in the fourth quarter and the actual result came in right at the midpoint.
Additionally, the Bookings in the fourth quarter 2016 grew 7 percent to $1.44 billion, which an increase from $1.35 billion in the fourth quarter of 2015 and within the Company’s guidance range. The total backlog grew 12 percent to $15.927 billion over the year-ago quarter.
For the full year 2016, CERN has reported the 8 percent growth in the revenue to $4.8 billion, and the adjusted earnings per share for the year were $2.30, which is up 9 percent from 2015. The full-year 2016 bookings were at $5.45 billion, up slightly compared to 2015 bookings of $5.43 billion
For the full year 2017, CERN expects the earnings per share (EPS) to be in the range of $2.44-$2.56 for the period, as compared to the analysts’ estimate of $2.57. The revenue for FY 17 is expected to be in the range of $5.1-$5.3 billion, as compared to the consensus revenue estimate of $5.24 billion. The midpoint of this range represents an 8% increase from 2016. In addition, CERN in Q1 2017 expects the earnings per share to be in the range of $0.57-$0.59. This guidance is also lower than the fourth quarter of 2016, but it is in line with consensus estimates. For the first quarter of 2017, the revenue is expected to be between $1.200 billion and $1.275 billion and the new business bookings are expected to be between $1.125 billion and $1.275 billion.
CERN stock has fallen 19.5% in the last one year (source: Google Finance) and has a limited average price target of $57.50, which is a further upside of 6.72%, as per tipranks.com