Tenet Healthcare (NYSE:THC) issued an update on its FY 2021 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $5.230-$5.730 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.000. The company issued revenue guidance of $19.25 billion-$19.65 billion, compared to the consensus revenue estimate of $19.61 billion.Tenet Healthcare also updated its FY21 guidance to $5.23-5.73 EPS.
Shares of NYSE THC traded down $3.40 during mid-day trading on Thursday, reaching $68.85. The company’s stock had a trading volume of 76,276 shares, compared to its average volume of 910,219. The business has a 50-day simple moving average of $66.97. The firm has a market cap of $7.35 billion, a PE ratio of 19.37 and a beta of 2.61. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 14.86. Tenet Healthcare has a 1-year low of $21.34 and a 1-year high of $73.65.
Tenet Healthcare (NYSE:THC) last announced its quarterly earnings data on Tuesday, July 20th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.52. Tenet Healthcare had a net margin of 2.25% and a return on equity of 65.38%. The firm had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. Tenet Healthcare’s quarterly revenue was up 35.8% on a year-over-year basis. As a group, equities analysts predict that Tenet Healthcare will post 5.21 EPS for the current fiscal year.
In related news, Director Meghan Fitzgerald sold 6,153 shares of the business’s stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $63.57, for a total value of $391,146.21. Following the completion of the transaction, the director now owns 33,828 shares of the company’s stock, valued at approximately $2,150,445.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Howard Hacker sold 6,382 shares of the business’s stock in a transaction dated Friday, May 28th. The shares were sold at an average price of $66.70, for a total transaction of $425,679.40. The disclosure for this sale can be found here. Insiders have sold a total of 21,197 shares of company stock valued at $1,371,540 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.
About Tenet Healthcare
Tenet Healthcare Corporation operates as a diversified healthcare services company. The company operates in three segments: Hospital Operations and Other, Ambulatory Care, and Conifer. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.
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