Zacks: Brokerages Expect Tenet Healthcare Corporation (THC) to Announce -$0.34 Earnings Per Share
Equities research analysts expect Tenet Healthcare Corporation (NYSE:THC) to announce ($0.34) earnings per share for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Tenet Healthcare Corporation’s earnings. The highest EPS estimate is ($0.24) and the lowest is ($0.52). Tenet Healthcare Corporation posted earnings of $0.16 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 312.5%. The company is expected to announce its next quarterly earnings results on Monday, October 30th.
According to Zacks, analysts expect that Tenet Healthcare Corporation will report full year earnings of $0.87 per share for the current fiscal year, with EPS estimates ranging from $0.72 to $0.98. For the next financial year, analysts expect that the company will post earnings of $1.30 per share, with EPS estimates ranging from $0.83 to $1.60. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Tenet Healthcare Corporation.
Tenet Healthcare Corporation (NYSE:THC) last posted its earnings results on Monday, August 7th. The company reported ($0.17) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.17). The company had revenue of $14.80 billion for the quarter, compared to the consensus estimate of $4.90 billion. Tenet Healthcare Corporation had a negative return on equity of 2.00% and a negative net margin of 0.97%. Tenet Healthcare Corporation’s quarterly revenue was up 204.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 earnings per share.
Several analysts recently commented on THC shares. Mizuho restated a “neutral” rating and issued a $14.00 target price on shares of Tenet Healthcare Corporation in a research report on Thursday, September 14th. Jefferies Group LLC reaffirmed a “buy” rating and set a $24.00 price target (down from $26.00) on shares of Tenet Healthcare Corporation in a research note on Tuesday, August 8th. Credit Suisse Group decreased their price target on Tenet Healthcare Corporation from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, August 9th. Deutsche Bank AG reaffirmed a “buy” rating and set a $24.00 price target (down from $28.00) on shares of Tenet Healthcare Corporation in a research note on Thursday, August 10th. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $30.00 price target (up from $23.00) on shares of Tenet Healthcare Corporation in a research note on Sunday, August 20th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $21.00.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in THC. FNY Managed Accounts LLC bought a new stake in shares of Tenet Healthcare Corporation during the 1st quarter worth $109,000. PNC Financial Services Group Inc. boosted its stake in shares of Tenet Healthcare Corporation by 52.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the company’s stock worth $117,000 after acquiring an additional 2,266 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Tenet Healthcare Corporation by 57.4% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock worth $126,000 after acquiring an additional 2,590 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Tenet Healthcare Corporation by 67.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock worth $152,000 after acquiring an additional 3,161 shares in the last quarter. Finally, Flinton Capital Management LLC boosted its stake in shares of Tenet Healthcare Corporation by 65.7% during the 2nd quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock worth $153,000 after acquiring an additional 3,128 shares in the last quarter.
Shares of Tenet Healthcare Corporation (THC) opened at 15.69 on Thursday. Tenet Healthcare Corporation has a 52-week low of $12.54 and a 52-week high of $24.13. The firm’s 50-day moving average price is $16.25 and its 200-day moving average price is $17.21. The stock’s market capitalization is $1.58 billion.
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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