Community Health Systems, Inc. (CYH) Raised to Hold at Zacks Investment Research
Community Health Systems, Inc. (NYSE:CYH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Community Health Systems’ inorganic growth via accretive acquisitions and strategic divestures has been acretive to the company's top-line over the past few years. Well reflective of the company’s strong fundamentals, the stock gained 67% year to date, outperforming the Zacks Categorized Hospitals industry’s increase of 16%. However, rising debt level raise concerns and it faces uncertainty over regulatory reforms. Revenue concentration is another major headwind as the company generates a significant part of its revenues from a selected number of states like Florida, Pennsylvania, Texas, Indiana and Tennessee. The Zacks Consensus Estimate for the current quarter, current year and also the next year has gone down significantly in the past 30 days. The company is set to release its second quarter results on Aug 1, after the market closes.”
A number of other research analysts have also weighed in on CYH. Vetr lowered shares of Community Health Systems from a “sell” rating to a “strong sell” rating and set a $7.83 price target on the stock. in a research note on Monday, March 27th. Mizuho cut their price target on shares of Community Health Systems from $10.00 to $7.50 and set a “neutral” rating on the stock in a research note on Monday, March 27th. Deutsche Bank AG started coverage on shares of Community Health Systems in a research note on Wednesday, April 5th. They issued a “hold” rating and a $11.00 price target on the stock. Morgan Stanley started coverage on shares of Community Health Systems in a research note on Tuesday, June 6th. They issued an “underweight” rating and a $9.50 price target on the stock. Finally, BidaskClub raised shares of Community Health Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $8.62.
Community Health Systems (CYH) remained flat at $9.26 during midday trading on Friday. The company had a trading volume of 1,404,828 shares. The company’s market capitalization is $1.04 billion. The company’s 50-day moving average is $9.20 and its 200-day moving average is $8.57. Community Health Systems has a 52 week low of $4.15 and a 52 week high of $13.46.
Community Health Systems (NYSE:CYH) last issued its quarterly earnings data on Monday, May 1st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.02. The firm 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%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. Analysts anticipate that Community Health Systems will post $0.36 EPS for the current year.
A number of hedge funds have recently bought and sold shares of CYH. World Asset Management Inc raised its stake in Community Health Systems by 3.2% in the first quarter. World Asset Management Inc now owns 12,377 shares of the company’s stock valued at $110,000 after buying an additional 387 shares during the period. State of Alaska Department of Revenue raised its stake in Community Health Systems by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 12,570 shares of the company’s stock valued at $111,000 after buying an additional 270 shares during the period. Tudor Investment Corp Et Al purchased a new stake in Community Health Systems during the fourth quarter valued at about $113,000. Airain ltd purchased a new stake in Community Health Systems during the first quarter valued at about $126,000. Finally, Fox Run Management L.L.C. purchased a new stake in Community Health Systems during the second quarter valued at about $126,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.
Community Health Systems Company Profile
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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