Zacks: Brokerages Anticipate Community Health Systems, Inc. (CYH) Will Announce Quarterly Sales of $4.05 Billion
Brokerages forecast that Community Health Systems, Inc. (NYSE:CYH) will post $4.05 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for Community Health Systems’ earnings, with the lowest sales estimate coming in at $3.85 billion and the highest estimate coming in at $4.24 billion. Community Health Systems posted sales of $4.59 billion in the same quarter last year, which suggests a negative year over year growth rate of 11.8%. The business is scheduled to issue its next earnings report on Tuesday, August 1st.
On average, analysts expect that Community Health Systems will report full-year sales of $4.05 billion for the current year, with estimates ranging from $15.81 billion to $16.14 billion. For the next year, analysts forecast that the business will report sales of $14.91 billion per share, with estimates ranging from $14.18 billion to $15.38 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Community Health Systems.
Community Health Systems (NYSE:CYH) last posted its earnings results on Monday, May 1st. The company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Community Health Systems had a negative net margin of 10.77% and a positive return on equity of 1.79%. Community Health Systems’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period last year, the company posted $0.27 earnings per share.
CYH has been the subject of several research analyst reports. BidaskClub upgraded shares of Community Health Systems from a “sell” rating to a “hold” rating in a research report on Tuesday. Piper Jaffray Companies cut Community Health Systems from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $10.00 to $7.00 in a report on Wednesday, March 1st. Vetr upgraded Community Health Systems from a “sell” rating to a “hold” rating and set a $8.62 price objective on the stock in a report on Monday, April 10th. Deutsche Bank AG started coverage on Community Health Systems in a research note on Wednesday, April 5th. They set a “hold” rating and a $11.00 price objective for the company. Finally, Morgan Stanley began coverage on Community Health Systems in a research note on Tuesday, June 6th. They set an “underweight” rating and a $9.50 price objective for the company. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. Community Health Systems currently has an average rating of “Hold” and an average price target of $8.46.
A number of institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in Community Health Systems during the fourth quarter valued at $606,000. New York State Teachers Retirement System increased its stake in shares of Community Health Systems by 19.4% in the fourth quarter. New York State Teachers Retirement System now owns 238,900 shares of the company’s stock worth $1,335,000 after buying an additional 38,820 shares in the last quarter. State of Tennessee Treasury Department increased its stake in shares of Community Health Systems by 138.4% in the first quarter. State of Tennessee Treasury Department now owns 217,398 shares of the company’s stock worth $1,929,000 after buying an additional 126,208 shares in the last quarter. Nationwide Fund Advisors raised its stake in Community Health Systems by 214.9% in the first quarter. Nationwide Fund Advisors now owns 238,001 shares of the company’s stock valued at $2,111,000 after buying an additional 162,431 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Community Health Systems by 47.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 271,332 shares of the company’s stock valued at $1,516,000 after buying an additional 87,876 shares during the last quarter. Institutional investors own 95.76% of the company’s stock.
Shares of Community Health Systems (CYH) traded up 1.73% during mid-day trading on Thursday, reaching $10.00. 1,127,684 shares of the company’s stock traded hands. The company’s 50 day moving average is $9.33 and its 200 day moving average is $8.01. The company’s market cap is $1.12 billion. Community Health Systems has a 12-month low of $4.15 and a 12-month high of $13.90.
About Community Health Systems
Community Health Systems, Inc is an operator of general acute care hospitals and outpatient facilities in communities across the country. The Company operates through hospital operations segment, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services.
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