Tenet Healthcare Corp (NYSE:THC) – Equities researchers at Leerink Swann issued their Q2 2018 earnings per share estimates for shares of Tenet Healthcare in a research note issued on Wednesday, according to Zacks Investment Research. Leerink Swann analyst A. Gupte forecasts that the company will post earnings of $0.28 per share for the quarter. Leerink Swann has a “Buy” rating and a $27.00 price objective on the stock. Leerink Swann also issued estimates for Tenet Healthcare’s Q3 2018 earnings at $0.24 EPS and Q4 2018 earnings at $0.30 EPS.
Tenet Healthcare (NYSE:THC) last announced its 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 firm had revenue of $4.59 billion for the quarter, compared to analysts’ expectations of $4.94 billion. Tenet Healthcare had a negative net margin of 2.85% and a negative return on equity of 5.61%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 EPS.
Other analysts have also recently issued reports about the stock. Jefferies Group set a $20.00 target price on shares of Tenet Healthcare and gave the company a “buy” rating in a research report on Monday, October 30th. Robert W. Baird reiterated a “buy” rating and set a $23.00 price target on shares of Tenet Healthcare in a report on Thursday, September 28th. Citigroup upgraded shares of Tenet Healthcare from a “neutral” rating to a “buy” rating in a report on Tuesday, December 12th. Morgan Stanley cut their price target on shares of Tenet Healthcare from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, November 9th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $19.00 price target on shares of Tenet Healthcare in a report on Monday, September 25th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $18.50.
Shares of Tenet Healthcare (NYSE THC) opened at $16.25 on Thursday. 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 stock has a market cap of $1,640.00, a PE ratio of -2.95, a PEG ratio of 3.30 and a beta of 1.17. Tenet Healthcare has a 1 year low of $12.25 and a 1 year high of $22.72.
A number of hedge funds have recently modified their holdings of THC. Retirement Systems of Alabama grew its stake in Tenet Healthcare by 0.6% in the 2nd quarter. Retirement Systems of Alabama now owns 103,679 shares of the company’s stock worth $2,005,000 after acquiring an additional 591 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Tenet Healthcare by 13.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 451,626 shares of the company’s stock worth $8,735,000 after acquiring an additional 54,494 shares in the last quarter. Arizona State Retirement System grew its stake in Tenet Healthcare by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 33,900 shares of the company’s stock worth $656,000 after acquiring an additional 700 shares in the last quarter. First Trust Advisors LP grew its stake in Tenet Healthcare by 49.1% in the 2nd quarter. First Trust Advisors LP now owns 269,061 shares of the company’s stock worth $5,204,000 after acquiring an additional 88,663 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Tenet Healthcare by 6.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,113,140 shares of the company’s stock worth $21,528,000 after acquiring an additional 71,465 shares in the last quarter.
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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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