Tenet Healthcare Corporation (NYSE:THC) Updates FY17 Earnings Guidance
Tenet Healthcare Corporation (NYSE:THC) updated its FY17 earnings guidance on Monday. The company provided earnings per share guidance of $0.69-0.99 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.20. The company issued revenue guidance of $19.1-19.4 billion, compared to the consensus revenue estimate of $19.74 billion.
A number of equities research analysts have recently commented on the company. Jefferies Group LLC reissued a buy rating and issued a $26.00 target price (down from $28.00) on shares of Tenet Healthcare Corporation in a research note on Saturday, April 29th. Zacks Investment Research raised Tenet Healthcare Corporation from a hold rating to a strong-buy rating and set a $21.00 target price on the stock in a research note on Monday, July 10th. Wells Fargo & Company raised Tenet Healthcare Corporation from a market perform rating to an outperform rating and set a $22.00 target price on the stock in a research note on Tuesday, June 6th. Leerink Swann raised Tenet Healthcare Corporation from a market perform rating to an outperform rating and set a $27.00 target price on the stock in a research note on Tuesday, June 6th. Finally, Morgan Stanley assumed coverage on Tenet Healthcare Corporation in a research note on Tuesday, June 6th. They issued an equal weight rating and a $19.00 target price on the stock. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $23.57.
Tenet Healthcare Corporation (NYSE:THC) traded down 0.48% during midday trading on Monday, hitting $16.69. The company had a trading volume of 4,016,878 shares. Tenet Healthcare Corporation has a 52 week low of $14.06 and a 52 week high of $28.08. The stock’s market capitalization is $1.68 billion. The stock has a 50 day moving average price of $18.91 and a 200-day moving average price of $18.21.
Tenet Healthcare Corporation (NYSE:THC) last posted its quarterly earnings results on Monday, August 7th. The company reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. The firm had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Tenet Healthcare Corporation had a negative net margin of 0.92% and a positive return on equity of 2.94%. The firm’s revenue for the quarter was up 204.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS. On average, equities analysts predict that Tenet Healthcare Corporation will post $1.12 EPS for the current year.
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About Tenet Healthcare Corporation
Tenet Healthcare Corporation (Tenet) is a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets in the United States. The Company’s segments include Hospital Operations and Other, Ambulatory Care and Conifer. As of December 31, 2016, its subsidiaries operated 79 hospitals, including three academic medical centers, two children’s hospitals, two specialty hospitals and one critical access hospital.
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