Equities Analysts Set Expectations for Tenet Healthcare Corp’s Q1 2018 Earnings (NYSE:THC)

Tenet Healthcare Corp (NYSE:THC) – Analysts at Leerink Swann issued their Q1 2018 earnings per share estimates for shares of Tenet Healthcare in a note issued to investors on Wednesday, according to Zacks Investment Research. Leerink Swann analyst A. Gupte forecasts that the company will post earnings of $0.47 per share for the quarter. Leerink Swann has a “Buy” rating and a $27.00 price objective on the stock.

Tenet Healthcare (NYSE:THC) last posted 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. Tenet Healthcare had a negative net margin of 2.85% and a negative return on equity of 5.61%. The business had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter last year, the firm posted $0.16 EPS. Tenet Healthcare’s revenue was down 5.4% compared to the same quarter last year.

THC has been the subject of several other research reports. Zacks Investment Research downgraded shares of Tenet Healthcare from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 19th. Robert W. Baird reaffirmed a “buy” rating and set a $23.00 price objective on shares of Tenet Healthcare in a report on Thursday, September 28th. JPMorgan Chase & Co. downgraded shares of Tenet Healthcare from a “neutral” rating to an “underweight” rating and set a $15.00 price objective on the stock. in a report on Thursday, December 14th. Morgan Stanley downgraded shares of Tenet Healthcare from an “equal weight” rating to an “underweight” rating and set a $14.00 price objective on the stock. in a report on Wednesday, December 20th. Finally, Mizuho reaffirmed a “hold” rating on shares of Tenet Healthcare in a report on Friday, November 10th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $18.50.

Tenet Healthcare (THC) traded up $0.82 during midday trading on Friday, reaching $16.25. 5,450,700 shares of the company traded hands, compared to its average volume of 2,790,000. Tenet Healthcare has a twelve month low of $12.25 and a twelve month high of $22.72. The company has a current ratio of 1.28, a quick ratio of 1.21 and a debt-to-equity ratio of 21.21. The firm has a market cap of $1,640.00, a P/E ratio of -2.95, a P/E/G ratio of 3.30 and a beta of 1.17.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its stake in shares of Tenet Healthcare by 86.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 34,465 shares of the company’s stock worth $566,000 after purchasing an additional 16,000 shares during the period. Sterling Capital Management LLC bought a new stake in shares of Tenet Healthcare during the 3rd quarter worth $227,000. Scoggin Management LP bought a new stake in shares of Tenet Healthcare during the 3rd quarter worth $657,000. California Public Employees Retirement System raised its stake in shares of Tenet Healthcare by 14.4% during the 3rd quarter. California Public Employees Retirement System now owns 909,117 shares of the company’s stock worth $14,937,000 after purchasing an additional 114,407 shares during the period. Finally, Davidson Kempner Capital Management LP raised its stake in shares of Tenet Healthcare by 84.9% during the 3rd quarter. Davidson Kempner Capital Management LP now owns 1,924,600 shares of the company’s stock worth $31,621,000 after purchasing an additional 883,600 shares during the period.

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About Tenet Healthcare

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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