Magellan Health Sees FY16 Net Income Of $51 Mln To $70 Mln

(RTTNews) - Magellan Health, Inc. (MGLN) Tuesday said that in 2016, it expects net income in the range of $51 million to $70 million, equating to earnings per share of $2.06 to $2.83.

Adjusted net income for 2016 is expected to be in the range of $75.5 million to $94.5 million, which equates to adjusted earnings per share of $3.06 to $3.83.

On average, five analysts polled by Thomson Reuters expect earnings of $1.41 per share for the year. Analysts' estimates typically exclude special items.

The firm expects to generate net revenue in the range of $4.28 billion to $4.52 billion, and segment profit in the range of $260 million to $280 million. Analysts expect revenues of $4.75 billion.

For 2015, the company confirmed its guidance, most recently updated in October.