Zacks: Analysts Anticipate Community Health Systems, Inc. (CYH) to Announce -$0.26 EPS
Wall Street analysts expect that Community Health Systems, Inc. (NYSE:CYH) will report earnings of ($0.26) per share for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Community Health Systems’ earnings, with the highest EPS estimate coming in at ($0.02) and the lowest estimate coming in at ($0.52). Community Health Systems reported earnings of ($0.35) per share in the same quarter last year, which suggests a positive year over year growth rate of 25.7%. The company is expected to announce its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that Community Health Systems will report full year earnings of ($0.29) per share for the current year, with EPS estimates ranging from ($0.76) to $0.30. For the next fiscal year, analysts expect that the business will report earnings of $0.10 per share, with EPS estimates ranging from ($1.02) to $1.14. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Community Health Systems.
Community Health Systems (NYSE:CYH) last released its quarterly earnings results on Tuesday, August 1st. The company reported ($0.25) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.31). The firm had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.14 billion. Community Health Systems had a negative net margin of 3.63% and a positive return on equity of 0.07%. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 earnings per share.
Several equities analysts have recently issued reports on CYH shares. Robert W. Baird reiterated a “hold” rating and issued a $7.00 price objective on shares of Community Health Systems in a research note on Friday, September 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $7.00 price objective on shares of Community Health Systems in a research note on Tuesday, September 5th. Zacks Investment Research upgraded Community Health Systems from a “sell” rating to a “hold” rating in a research note on Friday, July 21st. Morgan Stanley started coverage on Community Health Systems in a research note on Tuesday, June 6th. They issued an “underweight” rating and a $9.50 price objective for the company. Finally, ValuEngine upgraded Community Health Systems from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Six 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. The stock currently has an average rating of “Hold” and an average target price of $7.84.
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In other news, major shareholder Tian Qiao Chen acquired 9,766,897 shares of Community Health Systems stock in a transaction on Monday, August 14th. The stock was bought at an average price of $7.27 per share, for a total transaction of $71,005,341.19. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.70% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CYH. Alps Advisors Inc. purchased a new stake in Community Health Systems in the second quarter valued at approximately $107,000. World Asset Management Inc increased its holdings in shares of 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 purchasing an additional 387 shares during the period. Shelton Capital Management acquired a new position in shares of Community Health Systems in the second quarter valued at approximately $110,000. Airain ltd acquired a new position in shares of Community Health Systems in the first quarter valued at approximately $126,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Community Health Systems in the second quarter valued at approximately $126,000. Institutional investors own 94.71% of the company’s stock.
Community Health Systems (NYSE CYH) traded up 0.93% during trading on Friday, hitting $7.61. 3,640,367 shares of the stock traded hands. The company’s 50 day moving average price is $7.17 and its 200 day moving average price is $8.68. Community Health Systems has a 12 month low of $4.15 and a 12 month high of $12.19. The company’s market cap is $851.83 million.
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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