Community Health Systems, Inc. (CYH) to Post Q1 2018 Earnings of $0.10 Per Share, SunTrust Banks Forecasts
Community Health Systems, Inc. (NYSE:CYH) – Analysts at SunTrust Banks lowered their Q1 2018 earnings per share (EPS) estimates for shares of Community Health Systems in a research report issued to clients and investors on Thursday. SunTrust Banks analyst D. Macdonald now anticipates that the company will post earnings of $0.10 per share for the quarter, down from their prior forecast of $0.18. SunTrust Banks currently has a “Hold” rating and a $7.00 target price on the stock. SunTrust Banks also issued estimates for Community Health Systems’ Q2 2018 earnings at $0.06 EPS, Q1 2019 earnings at $0.41 EPS and Q2 2019 earnings at $0.34 EPS.
Several other research firms also recently commented on CYH. Zacks Investment Research raised shares of Community Health Systems from a “sell” rating to a “hold” rating in a report on Friday, July 21st. Jefferies Group LLC reissued a “hold” rating and set a $7.00 price objective on shares of Community Health Systems in a report on Sunday, July 30th. Mizuho reissued a “neutral” rating and set a $7.00 price objective (down previously from $7.50) on shares of Community Health Systems in a report on Wednesday, August 2nd. ValuEngine downgraded shares of Community Health Systems from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $6.00 price objective on shares of Community Health Systems in a report on Sunday. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. Community Health Systems currently has a consensus rating of “Hold” and an average price target of $6.47.
Community Health Systems (NYSE:CYH) traded up $0.03 on Monday, hitting $4.49. 3,298,178 shares of the company’s stock traded hands, compared to its average volume of 4,601,180. Community Health Systems has a twelve month low of $4.15 and a twelve month high of $10.51. The company has a quick ratio of 1.86, a current ratio of 2.05 and a debt-to-equity ratio of 10.62.
Community Health Systems (NYSE:CYH) last issued its earnings results on Wednesday, November 1st. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.47). The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.70 billion. Community Health Systems had a negative return on equity of 3.10% and a negative net margin of 3.97%. The company’s quarterly revenue was down 16.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.35) EPS.
In other news, major shareholder Tian Qiao Chen acquired 9,766,897 shares of Community Health Systems stock in a transaction that occurred on Monday, August 14th. The shares were bought at an average cost of $7.27 per share, with a total value of $71,005,341.19. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of CYH. BlackRock Inc. raised its position in Community Health Systems by 38,765.3% in the 1st quarter. BlackRock Inc. now owns 14,685,650 shares of the company’s stock worth $130,263,000 after purchasing an additional 14,647,864 shares during the period. Dimensional Fund Advisors LP raised its position in Community Health Systems by 131.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,957,164 shares of the company’s stock worth $49,374,000 after purchasing an additional 2,819,955 shares during the period. Franklin Resources Inc. purchased a new stake in Community Health Systems in the 2nd quarter worth about $14,946,000. Vanguard Group Inc. raised its position in Community Health Systems by 15.2% in the 1st quarter. Vanguard Group Inc. now owns 9,953,542 shares of the company’s stock worth $88,288,000 after purchasing an additional 1,312,513 shares during the period. Finally, QS Investors LLC purchased a new stake in Community Health Systems in the 2nd quarter worth about $5,761,000. 99.59% of the stock is currently owned by institutional investors.
About Community Health Systems
Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.
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