Community Health Systems (NYSE:CYH) Posts Earnings Results, Beats Expectations By $0.05 EPS

Community Health Systems (NYSE:CYH) posted its earnings results on Wednesday. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05, Briefing.com reports. Community Health Systems had a negative return on equity of 5.51% and a negative net margin of 1.07%. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the firm earned ($0.43) earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. Community Health Systems updated its FY 2024 guidance to -0.650–0.050 EPS.

Community Health Systems Stock Performance

CYH traded up $0.27 during trading on Thursday, reaching $3.30. The company’s stock had a trading volume of 2,249,630 shares, compared to its average volume of 2,056,172. The company’s fifty day moving average price is $3.09 and its 200-day moving average price is $3.05. The company has a market capitalization of $458.63 million, a price-to-earnings ratio of -3.12 and a beta of 1.52. Community Health Systems has a 52-week low of $2.01 and a 52-week high of $6.53.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Oppenheimer dropped their price target on Community Health Systems from $5.50 to $4.50 and set an “outperform” rating on the stock in a research report on Thursday. StockNews.com upgraded Community Health Systems from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Finally, Barclays assumed coverage on Community Health Systems in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $3.00 price target on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Community Health Systems has an average rating of “Hold” and a consensus target price of $4.00.

About Community Health Systems

Community Health Systems, Inc 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.