Community Health Systems (NYSE:CYH) Releases FY 2024 Earnings Guidance

Community Health Systems (NYSE:CYH) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of -0.650–0.050 for the period, compared to the consensus estimate of -0.410. The company issued revenue guidance of $12.3 billion-$12.7 billion, compared to the consensus revenue estimate of $12.5 billion.

Community Health Systems Stock Up 7.6 %

NYSE CYH traded up $0.23 on Thursday, hitting $3.26. The company’s stock had a trading volume of 3,723,982 shares, compared to its average volume of 2,075,160. Community Health Systems has a 1-year low of $2.01 and a 1-year high of $6.53. The company’s 50-day moving average is $3.09 and its 200 day moving average is $3.05. The firm has a market cap of $453.07 million, a PE ratio of -3.12 and a beta of 1.52.

Community Health Systems (NYSE:CYH) last posted its quarterly earnings data on Wednesday, April 24th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.05. Community Health Systems had a negative net margin of 1.07% and a negative return on equity of 5.51%. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the prior year, the company posted ($0.43) earnings per share. Community Health Systems’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts expect that Community Health Systems will post -0.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CYH. Oppenheimer dropped their price target on shares of Community Health Systems from $5.50 to $4.50 and set an outperform rating on the stock in a research report on Thursday. StockNews.com raised shares of Community Health Systems from a sell rating to a hold rating in a research report on Thursday, February 22nd. Finally, Barclays began coverage on shares of Community Health Systems in a research report on Wednesday, March 6th. They set an equal weight rating and a $3.00 price target on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $4.00.

About Community Health Systems

Community Health Systems, Inc owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.