Equities research analysts expect Tenet Healthcare (NYSE:THC) to announce ($0.02) earnings per share for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Tenet Healthcare’s earnings, with estimates ranging from ($0.10) to $0.05. Tenet Healthcare reported earnings of ($0.27) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 92.6%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Monday, April 30th.
According to Zacks, analysts expect that Tenet Healthcare will report full-year earnings of $0.94 per share for the current fiscal year, with EPS estimates ranging from $0.81 to $1.14. For the next financial year, analysts anticipate that the business will report earnings of $1.75 per share, with EPS estimates ranging from $1.08 to $2.37. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Tenet Healthcare.
Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Monday, February 26th. The company reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.15. Tenet Healthcare had a negative net margin of 3.67% and a positive return on equity of 9.69%. The business had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the business posted $0.06 earnings per share. Tenet Healthcare’s revenue for the quarter was up 2.4% compared to the same quarter last year.
A number of equities analysts have recently weighed in on THC shares. ValuEngine downgraded shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Zacks Investment Research downgraded shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th. Goldman Sachs started coverage on shares of Tenet Healthcare in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $15.00 price target on the stock. Wells Fargo started coverage on shares of Tenet Healthcare in a research note on Tuesday, January 30th. They issued a “market perform” rating and a $20.00 price target on the stock. Finally, Morgan Stanley downgraded shares of Tenet Healthcare from an “equal weight” rating to an “underweight” rating and set a $14.00 price target on the stock. in a research note on Wednesday, December 20th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.19.
In other Tenet Healthcare news, Director Ashish Dave sold 75,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $1.40, for a total transaction of $105,000.00. Also, Director George Fredrick Smitherman purchased 125,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The shares were purchased at an average price of $38.50 per share, with a total value of $4,812,500.00. Insiders have sold 128,300 shares of company stock worth $149,096 over the last three months. Company insiders own 1.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Elkfork Partners LLC bought a new stake in Tenet Healthcare during the fourth quarter valued at about $142,000. Xact Kapitalforvaltning AB bought a new stake in Tenet Healthcare during the fourth quarter valued at about $153,000. Letko Brosseau & Associates Inc. bought a new stake in Tenet Healthcare during the fourth quarter valued at about $30,300,000. MetLife Investment Advisors LLC bought a new stake in Tenet Healthcare during the fourth quarter valued at about $1,358,000. Finally, Gotham Asset Management LLC boosted its holdings in Tenet Healthcare by 446.4% during the fourth quarter. Gotham Asset Management LLC now owns 439,274 shares of the company’s stock valued at $6,659,000 after acquiring an additional 358,885 shares during the period.
NYSE THC opened at $24.51 on Monday. Tenet Healthcare has a 1-year low of $12.25 and a 1-year high of $25.24. The company has a debt-to-equity ratio of 27.44, a quick ratio of 1.22 and a current ratio of 1.29. The firm has a market capitalization of $2,429.63, a PE ratio of 30.26, a P/E/G ratio of 2.01 and a beta of 0.80.
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Tenet Healthcare Company Profile
Tenet Healthcare Corporation operates as a diversified healthcare services company. It operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. The company's general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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