Community Health Systems (NYSE:CYH) Posts Earnings Results, Misses Expectations By $0.19 EPS

Community Health Systems (NYSE:CYH) released its quarterly earnings data on Wednesday. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.19), FiscalAI reports. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.80 billion. Community Health Systems had a negative return on equity of 6.66% and a net margin of 2.10%.

Community Health Systems Price Performance

NYSE CYH traded down $0.20 during trading hours on Wednesday, hitting $2.65. The company had a trading volume of 2,076,663 shares, compared to its average volume of 1,574,052. The firm’s 50 day moving average is $2.90 and its 200 day moving average is $3.05. Community Health Systems has a fifty-two week low of $2.40 and a fifty-two week high of $4.33. The company has a market capitalization of $372.97 million, a price-to-earnings ratio of 1.43 and a beta of 1.88.

Insider Activity at Community Health Systems

In other news, Director William Jennings sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $2.96, for a total value of $118,400.00. Following the completion of the sale, the director owned 38,468 shares of the company’s stock, valued at $113,865.28. This represents a 50.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CYH has been the topic of a number of research analyst reports. Wall Street Zen cut Community Health Systems from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. UBS Group reduced their price objective on Community Health Systems from $3.20 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, July 24th. Barclays decreased their target price on Community Health Systems from $3.00 to $2.50 and set an “underweight” rating for the company in a report on Thursday, July 23rd. Weiss Ratings downgraded shares of Community Health Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 14th. Finally, Truist Financial cut their price target on shares of Community Health Systems from $3.75 to $3.25 and set a “hold” rating on the stock in a report on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $2.96.

About Community Health Systems

Community Health Systems, Inc (NYSE: CYH) is a healthcare services company that owns, leases, and operates general acute-care hospitals and related healthcare facilities in the United States. The company focuses primarily on serving communities in small cities and non-urban markets, providing access to hospital-based and outpatient care.

Its services generally include emergency care, inpatient and outpatient treatment, surgery, diagnostic imaging, laboratory services, rehabilitation, and other clinical programs.