Equities research analysts expect Tenet Healthcare Corp (NYSE:THC) to post sales of $4.38 billion for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Tenet Healthcare’s earnings, with the highest sales estimate coming in at $4.43 billion and the lowest estimate coming in at $4.31 billion. Tenet Healthcare posted sales of $4.59 billion in the same quarter last year, which would indicate a negative year over year growth rate of 4.6%. The company is scheduled to announce its next earnings results on Friday, October 26th.
On average, analysts expect that Tenet Healthcare will report full-year sales of $18.12 billion for the current year, with estimates ranging from $18.08 billion to $18.19 billion. For the next financial year, analysts expect that the firm will report sales of $17.89 billion, with estimates ranging from $16.95 billion to $18.39 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Tenet Healthcare.
Tenet Healthcare (NYSE:THC) last issued its earnings results on Monday, August 6th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.24. Tenet Healthcare had a negative net margin of 2.51% and a positive return on equity of 38.91%. The firm had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. The business’s quarterly revenue was down 6.2% on a year-over-year basis.
THC has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Tenet Healthcare from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. JPMorgan Chase & Co. upped their target price on shares of Tenet Healthcare from $22.00 to $28.00 and gave the company an “underweight” rating in a research note on Friday, August 10th. ValuEngine downgraded shares of Tenet Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 27th. SunTrust Banks reaffirmed a “hold” rating and issued a $35.00 target price on shares of Tenet Healthcare in a research note on Wednesday, August 8th. Finally, Jefferies Financial Group downgraded shares of Tenet Healthcare from a “buy” rating to a “hold” rating and upped their target price for the company from $28.00 to $38.00 in a research note on Friday, June 29th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. Tenet Healthcare currently has an average rating of “Hold” and a consensus price target of $30.80.
Shares of NYSE:THC opened at $27.73 on Monday. Tenet Healthcare has a 52 week low of $12.25 and a 52 week high of $39.74. The company has a quick ratio of 1.01, a current ratio of 1.08 and a debt-to-equity ratio of 24.66. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 34.23, a PEG ratio of 1.27 and a beta of 0.92.
Institutional investors have recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc acquired a new position in shares of Tenet Healthcare in the second quarter valued at approximately $166,000. Advisors Preferred LLC acquired a new position in shares of Tenet Healthcare in the second quarter valued at approximately $163,000. Assetmark Inc. boosted its holdings in shares of Tenet Healthcare by 45.8% in the second quarter. Assetmark Inc. now owns 5,093 shares of the company’s stock valued at $171,000 after buying an additional 1,601 shares during the period. Vident Investment Advisory LLC acquired a new position in shares of Tenet Healthcare in the second quarter valued at approximately $207,000. Finally, LMR Partners LLP acquired a new position in shares of Tenet Healthcare in the second quarter valued at approximately $234,000.
About Tenet Healthcare
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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