Community Health Systems (NYSE:CYH) Releases 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, beating analysts’ consensus estimates of ($0.19) by $0.05, Briefing.com reports. Community Health Systems had a negative net margin of 1.07% and a negative return on equity of 5.51%. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the prior year, the company posted ($0.43) earnings per share. Community Health Systems’s revenue for the quarter 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 Trading Up 8.6 %

NYSE:CYH traded up $0.26 during mid-day trading on Thursday, hitting $3.29. The stock had a trading volume of 2,392,002 shares, compared to its average volume of 2,057,207. The stock has a 50-day simple moving average of $3.09 and a two-hundred day simple moving average of $3.05. The company has a market capitalization of $457.24 million, a PE ratio of -3.12 and a beta of 1.52. Community Health Systems has a twelve month low of $2.01 and a twelve month high of $6.53.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. StockNews.com raised shares of Community Health Systems from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd. Barclays began coverage on shares of Community Health Systems in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $3.00 price target on the stock. Finally, Oppenheimer reduced their price target on shares of Community Health Systems from $5.50 to $4.50 and set an “outperform” rating on the stock in a research report on Thursday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.