Tenet Healthcare Corporation (THC) Expected to Post Quarterly Sales of $4.74 Billion
Analysts expect that Tenet Healthcare Corporation (NYSE:THC) will post $4.74 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Tenet Healthcare Corporation’s earnings, with the lowest sales estimate coming in at $4.70 billion and the highest estimate coming in at $4.78 billion. Tenet Healthcare Corporation reported sales of $4.85 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 2.3%. The company is scheduled to report its next quarterly earnings results on Monday, October 30th.
According to Zacks, analysts expect that Tenet Healthcare Corporation will report full-year sales of $4.74 billion for the current year, with estimates ranging from $19.15 billion to $19.41 billion. For the next year, analysts expect that the company will report sales of $19.76 billion per share, with estimates ranging from $19.19 billion to $20.16 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Tenet Healthcare Corporation.
Tenet Healthcare Corporation (NYSE:THC) last announced its earnings results on Monday, August 7th. The company reported ($0.17) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.17). Tenet Healthcare Corporation had a negative return on equity of 2.00% and a negative net margin of 0.97%. The business had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the business posted $0.38 earnings per share. The company’s quarterly revenue was up 204.1% on a year-over-year basis.
A number of analysts have weighed in on THC shares. Zacks Investment Research upgraded Tenet Healthcare Corporation from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a report on Monday, July 10th. Royal Bank Of Canada reiterated a “hold” rating and set a $25.00 price target on shares of Tenet Healthcare Corporation in a report on Tuesday, July 18th. Credit Suisse Group increased their price target on Tenet Healthcare Corporation from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, May 15th. ValuEngine downgraded Tenet Healthcare Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Morgan Stanley started coverage on Tenet Healthcare Corporation in a report on Tuesday, June 6th. They set an “equal weight” rating and a $19.00 price target for the company. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.43.
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A number of institutional investors have recently added to or reduced their stakes in THC. FNY Managed Accounts LLC bought a new position in Tenet Healthcare Corporation during the first quarter worth about $109,000. PNC Financial Services Group Inc. increased its position in Tenet Healthcare Corporation by 52.1% in the first quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock worth $117,000 after buying an additional 2,266 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Tenet Healthcare Corporation by 57.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock worth $126,000 after buying an additional 2,590 shares during the period. Riverhead Capital Management LLC increased its position in Tenet Healthcare Corporation by 67.3% in the second quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock worth $152,000 after buying an additional 3,161 shares during the period. Finally, Flinton Capital Management LLC increased its position in Tenet Healthcare Corporation by 65.7% in the second quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock worth $153,000 after buying an additional 3,128 shares during the period.
Tenet Healthcare Corporation (THC) opened at 17.62 on Wednesday. Tenet Healthcare Corporation has a 52 week low of $12.54 and a 52 week high of $24.86. The company’s 50-day moving average price is $17.03 and its 200 day moving average price is $17.80. The company’s market cap is $1.78 billion.
Tenet Healthcare Corporation Company Profile
Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.
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