Tenet Healthcare (THC) Scheduled to Post Earnings on Tuesday

Tenet Healthcare (NYSE:THC) will be issuing its quarterly earnings data before the market opens on Tuesday, April 30th. Analysts expect the company to announce earnings of $1.41 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Tenet Healthcare (NYSE:THC) last posted its quarterly earnings results on Thursday, February 8th. The company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The business had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the company posted $1.96 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts expect Tenet Healthcare to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Tenet Healthcare Trading Down 1.4 %

Shares of Tenet Healthcare stock opened at $96.13 on Monday. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. The firm has a fifty day moving average price of $98.22 and a 200 day moving average price of $80.71. Tenet Healthcare has a 1 year low of $51.04 and a 1 year high of $107.80. The stock has a market cap of $9.54 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 3.08 and a beta of 2.08.

Insider Transactions at Tenet Healthcare

In related news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total value of $185,241.00. Following the transaction, the director now owns 20,127 shares in the company, valued at $1,775,402.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Richard W. Fisher sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $88.21, for a total transaction of $185,241.00. Following the completion of the sale, the director now owns 20,127 shares of the company’s stock, valued at $1,775,402.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard J. Mark sold 14,000 shares of Tenet Healthcare stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $98.98, for a total transaction of $1,385,720.00. Following the completion of the transaction, the director now directly owns 33,303 shares of the company’s stock, valued at approximately $3,296,330.94. The disclosure for this sale can be found here. Insiders have sold a total of 51,268 shares of company stock worth $4,944,810 in the last three months. Company insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on THC shares. Truist Financial raised their price target on shares of Tenet Healthcare from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Wells Fargo & Company lifted their target price on shares of Tenet Healthcare from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Barclays initiated coverage on shares of Tenet Healthcare in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $113.00 price target on the stock. Royal Bank of Canada lifted their price objective on shares of Tenet Healthcare from $97.00 to $109.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tenet Healthcare from $100.00 to $126.00 and gave the company a “buy” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $100.38.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.