Community Health Systems (NYSE:CYH)‘s stock had its “hold” rating reissued by research analysts at Cantor Fitzgerald in a report released on Thursday. They presently have a $6.00 price objective on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 129.01% from the stock’s previous close.
The analysts wrote, “We rate CYH Neutral, but it has been especially volatile recently due to restructuring and uncertainty about the related operating and financial costs. 12-month price target of $6 is based on a blend of DCF and comparable-company analysis.””
Several other equities analysts have also weighed in on the company. Zacks Investment Research lowered Community Health Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Barclays started coverage on Community Health Systems in a research note on Tuesday, August 14th. They issued an “underweight” rating and a $3.00 target price on the stock. ValuEngine lowered Community Health Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Morgan Stanley cut their target price on Community Health Systems from $3.50 to $3.00 and set an “underweight” rating on the stock in a research note on Thursday, August 16th. Finally, Piper Jaffray Companies restated a “sell” rating and issued a $3.00 price target on shares of Community Health Systems in a report on Friday, July 27th. Nine equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $3.93.
NYSE:CYH opened at $2.62 on Thursday. Community Health Systems has a 1-year low of $2.56 and a 1-year high of $6.64. The company has a current ratio of 1.79, a quick ratio of 1.58 and a debt-to-equity ratio of -17.03. The stock has a market capitalization of $402.24 million, a price-to-earnings ratio of -2.16 and a beta of 1.69.
Community Health Systems (NYSE:CYH) last released its earnings results on Thursday, July 26th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.42. Community Health Systems had a negative return on equity of 36.38% and a negative net margin of 16.16%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same quarter in the prior year, the firm posted ($0.25) earnings per share. The company’s quarterly revenue was down 14.0% on a year-over-year basis. Research analysts anticipate that Community Health Systems will post -1.49 EPS for the current year.
In other Community Health Systems news, EVP Benjamin C. Fordham purchased 10,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was bought at an average cost of $3.16 per share, for a total transaction of $31,600.00. Following the completion of the acquisition, the executive vice president now directly owns 120,629 shares of the company’s stock, valued at $381,187.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired 25,000 shares of company stock valued at $83,350 over the last 90 days. Corporate insiders own 3.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Paloma Partners Management Co increased its holdings in shares of Community Health Systems by 250.0% in the second quarter. Paloma Partners Management Co now owns 35,000 shares of the company’s stock worth $116,000 after acquiring an additional 25,000 shares in the last quarter. Element Capital Management LLC bought a new stake in shares of Community Health Systems in the first quarter worth about $199,000. Aperio Group LLC increased its holdings in shares of Community Health Systems by 110.0% in the first quarter. Aperio Group LLC now owns 58,164 shares of the company’s stock worth $230,000 after acquiring an additional 30,467 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Community Health Systems by 885.5% in the first quarter. Cubist Systematic Strategies LLC now owns 84,494 shares of the company’s stock worth $335,000 after acquiring an additional 75,920 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Community Health Systems by 43.9% in the second quarter. Canada Pension Plan Investment Board now owns 102,000 shares of the company’s stock worth $339,000 after acquiring an additional 31,100 shares in the last quarter. Institutional investors own 97.55% of the company’s stock.
Community Health Systems Company Profile
Community Health Systems, Inc, together with its subsidiaries, owns, leases, and operates general acute care hospitals in the United States. It offers general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, as well as skilled nursing and home care services.
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