Community Health Systems, Inc. (CYH) Expected to Announce Quarterly Sales of $3.70 Billion
Brokerages predict that Community Health Systems, Inc. (NYSE:CYH) will announce sales of $3.70 billion for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for Community Health Systems’ earnings, with the lowest sales estimate coming in at $3.55 billion and the highest estimate coming in at $3.88 billion. Community Health Systems reported sales of $4.38 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 15.5%. 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 sales of $3.70 billion for the current fiscal year, with estimates ranging from $15.89 billion to $16.21 billion. For the next fiscal year, analysts anticipate that the business will report sales of $14.61 billion per share, with estimates ranging from $13.71 billion to $15.30 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Community Health Systems.
Community Health Systems (NYSE:CYH) last posted its earnings results on Tuesday, August 1st. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.31). Community Health Systems had a negative net margin of 3.63% and a positive return on equity of 0.07%. The business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same period last year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year.
Several analysts recently commented on CYH shares. ValuEngine upgraded Community Health Systems from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Royal Bank Of Canada reiterated a “hold” rating and set a $7.00 price target on shares of Community Health Systems in a research report on Friday, August 4th. Morgan Stanley started coverage on Community Health Systems in a research report on Tuesday, June 6th. They set an “underweight” rating and a $9.50 price target for the company. Jefferies Group LLC reiterated a “hold” rating and set a $7.00 price target on shares of Community Health Systems in a research report on Sunday, July 30th. Finally, Deutsche Bank AG dropped their price target on Community Health Systems from $13.00 to $8.00 and set a “hold” rating for the company in a research report on Thursday, August 3rd. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the company’s stock. Community Health Systems currently has a consensus rating of “Hold” and a consensus target price of $7.84.
Community Health Systems (NYSE:CYH) opened at 7.61 on Monday. The stock’s market capitalization is $851.83 million. Community Health Systems has a 12-month low of $4.15 and a 12-month high of $13.28. The company has a 50 day moving average of $7.17 and a 200-day moving average of $8.68.
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In other Community Health Systems news, major shareholder Tian Qiao Chen purchased 9,766,897 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average price of $7.27 per share, with a total value of $71,005,341.19. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in CYH. Teachers Advisors LLC lifted its stake in shares of Community Health Systems by 9.7% in the 4th quarter. Teachers Advisors LLC now owns 197,941 shares of the company’s stock valued at $1,106,000 after purchasing an additional 17,453 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Community Health Systems by 1.5% in the 1st quarter. Louisiana State Employees Retirement System now owns 46,400 shares of the company’s stock valued at $412,000 after purchasing an additional 700 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Community Health Systems in the 1st quarter valued at $200,000. Nationwide Fund Advisors lifted its stake in shares of Community Health Systems by 214.9% in the 1st quarter. Nationwide Fund Advisors now owns 238,001 shares of the company’s stock valued at $2,111,000 after purchasing an additional 162,431 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Community Health Systems by 22.3% in the 1st quarter. Russell Investments Group Ltd. now owns 129,006 shares of the company’s stock valued at $1,144,000 after purchasing an additional 23,496 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.
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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