Community Health Systems, Inc. (NYSE:CYH) Stock Has Average Target Price of $2.51 According to Brokerages

Community Health Systems, Inc. (NYSE:CYH) has been given an average rating of “Reduce” by the eight ratings firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $2.51.

Several equities analysts have commented on the company. Truist Financial lowered their price target on Community Health Systems from $3.25 to $2.50 and set a “hold” rating on the stock in a report on Tuesday, November 3rd. BMO Capital Markets began coverage on shares of Community Health Systems in a research note on Tuesday, September 22nd. They issued a “market perform” rating and a $3.00 price objective for the company. Zacks Research downgraded shares of Community Health Systems from a “hold” rating to a “strong sell” rating in a report on Monday, November 2nd. Royal Bank Of Canada lowered their target price on shares of Community Health Systems from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Monday, July 27th. Finally, Wall Street Zen downgraded shares of Community Health Systems from a “hold” rating to a “sell” rating in a report on Saturday, July 25th.

Community Health Systems Stock Performance

Shares of NYSE CYH opened at $2.21 on Friday. The firm has a market cap of $310.97 million, a price-to-earnings ratio of 8.48 and a beta of 1.90. The business’s 50-day simple moving average is $2.74 and its 200-day simple moving average is $2.99. Community Health Systems has a 52 week low of $2.04 and a 52 week high of $3.92.

Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Wednesday, October 28th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.19). Community Health Systems had a net margin of 0.31% and a negative return on equity of 6.66%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the previous year, the business posted $1.27 earnings per share. The firm’s revenue was down 10.7% on a year-over-year basis. As a group, equities research analysts forecast that Community Health Systems will post -1.54 earnings per share for the current year.

Insider Transactions at Community Health Systems

In other Community Health Systems news, Director William Jennings sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $2.96, for a total transaction of $118,400.00. Following the completion of the sale, the director directly owned 38,468 shares in the company, valued at $113,865.28. This represents a 50.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Community Health Systems

Several large investors have recently made changes to their positions in the business. Lombard Odier Asset Management USA Corp boosted its stake in Community Health Systems by 5.2% during the 1st quarter. Lombard Odier Asset Management USA Corp now owns 101,000 shares of the company’s stock valued at $297,000 after purchasing an additional 5,000 shares during the period. R Squared Ltd bought a new position in Community Health Systems in the 3rd quarter worth approximately $31,000. State of Wyoming lifted its holdings in shares of Community Health Systems by 13.2% during the first quarter. State of Wyoming now owns 112,127 shares of the company’s stock worth $330,000 after buying an additional 13,100 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Community Health Systems during the second quarter worth approximately $45,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Community Health Systems in the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

About Community Health Systems

Community Health Systems, Inc. is a U.S. healthcare company that, through its subsidiaries, owns, leases and operates general acute care hospitals and related healthcare facilities. Its hospitals serve local communities, with a focus on markets outside major urban centers. The company’s facilities provide a range of services, including emergency care, inpatient and outpatient treatment, surgery, diagnostic imaging and other clinical services. Related outpatient facilities extend access to care beyond the hospital setting.