FY2017 EPS Estimates for Tenet Healthcare Corporation (THC) Reduced by Analyst
Tenet Healthcare Corporation (NYSE:THC) – Analysts at KeyCorp decreased their FY2017 earnings per share (EPS) estimates for Tenet Healthcare Corporation in a report issued on Tuesday. KeyCorp analyst J. Gurda now expects that the company will post earnings of $0.65 per share for the year, down from their previous estimate of $0.92. KeyCorp also issued estimates for Tenet Healthcare Corporation’s Q4 2017 earnings at $1.25 EPS, FY2018 earnings at $0.94 EPS and FY2019 earnings at $1.26 EPS.
Tenet Healthcare Corporation (NYSE:THC) last issued its quarterly earnings results on Monday, November 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.23. The business had revenue of $4.59 billion during the quarter, compared to analysts’ expectations of $4.94 billion. Tenet Healthcare Corporation had a negative return on equity of 5.61% and a negative net margin of 2.85%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 earnings per share. TRADEMARK VIOLATION NOTICE: “FY2017 EPS Estimates for Tenet Healthcare Corporation (THC) Reduced by Analyst” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/11/10/fy2017-eps-estimates-for-tenet-healthcare-corporation-thc-reduced-by-analyst.html.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Tenet Healthcare Corporation from a “sell” rating to a “hold” rating in a research note on Thursday. Morgan Stanley cut their target price on Tenet Healthcare Corporation from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday. Credit Suisse Group assumed coverage on Tenet Healthcare Corporation in a research note on Thursday, November 2nd. They set a “neutral” rating and a $15.00 target price for the company. Citigroup Inc. restated a “neutral” rating and set a $16.00 target price (down from $20.00) on shares of Tenet Healthcare Corporation in a research note on Thursday, August 10th. Finally, Deutsche Bank AG restated a “buy” rating and set a $24.00 target price (down from $28.00) on shares of Tenet Healthcare Corporation in a research note on Thursday, August 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $19.14.
Shares of Tenet Healthcare Corporation (NYSE THC) traded up $0.44 during mid-day trading on Friday, hitting $13.94. The company had a trading volume of 1,408,109 shares, compared to its average volume of 3,700,000. The company has a debt-to-equity ratio of 21.21, a current ratio of 1.28 and a quick ratio of 1.17. Tenet Healthcare Corporation has a fifty-two week low of $12.25 and a fifty-two week high of $22.72.
Several large investors have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Tenet Healthcare Corporation by 0.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,737 shares of the company’s stock worth $227,000 after buying an additional 73 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in Tenet Healthcare Corporation by 0.3% in the second quarter. Meeder Asset Management Inc. now owns 51,741 shares of the company’s stock valued at $1,001,000 after purchasing an additional 175 shares during the period. Retirement Systems of Alabama increased its holdings in Tenet Healthcare Corporation by 0.6% in the second quarter. Retirement Systems of Alabama now owns 103,679 shares of the company’s stock valued at $2,005,000 after purchasing an additional 591 shares during the period. Arizona State Retirement System increased its holdings in Tenet Healthcare Corporation by 2.1% in the second quarter. Arizona State Retirement System now owns 33,900 shares of the company’s stock valued at $656,000 after purchasing an additional 700 shares during the period. Finally, Mutual of America Capital Management LLC increased its holdings in Tenet Healthcare Corporation by 1.2% in the second quarter. Mutual of America Capital Management LLC now owns 67,502 shares of the company’s stock valued at $1,305,000 after purchasing an additional 779 shares during the period.
About Tenet Healthcare Corporation
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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