Zacks: Analysts Anticipate Tenet Healthcare Corporation (THC) Will Announce Earnings of $1.29 Per Share

Wall Street analysts predict that Tenet Healthcare Corporation (NYSE:THC) will report earnings of $1.29 per share for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Tenet Healthcare’s earnings, with the lowest EPS estimate coming in at $1.23 and the highest estimate coming in at $1.52. Tenet Healthcare posted earnings per share of $0.06 in the same quarter last year, which would indicate a positive year over year growth rate of 2,050%. The firm is scheduled to issue its next quarterly earnings report on Monday, February 26th.

On average, analysts expect that Tenet Healthcare will report full year earnings of $0.69 per share for the current year, with EPS estimates ranging from $0.63 to $0.91. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.23 per share, with EPS estimates ranging from $0.87 to $1.82. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Tenet Healthcare.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings data on Monday, November 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.23. The business had revenue of $4.59 billion for the quarter, compared to analysts’ expectations of $4.94 billion. Tenet Healthcare had a negative return on equity of 5.61% and a negative net margin of 2.85%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 EPS.

Several analysts recently weighed in on THC shares. Mizuho restated a “neutral” rating and set a $14.00 price target on shares of Tenet Healthcare in a report on Thursday, September 14th. Jefferies Group restated a “buy” rating and set a $24.00 price target (down previously from $26.00) on shares of Tenet Healthcare in a report on Tuesday, August 8th. Credit Suisse Group decreased their price target on Tenet Healthcare from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, August 9th. Deutsche Bank restated a “buy” rating and set a $24.00 price target (down previously from $28.00) on shares of Tenet Healthcare in a report on Thursday, August 10th. Finally, Royal Bank Of Canada cut their price objective on Tenet Healthcare from $19.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $19.00.

Hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its position in Tenet Healthcare by 34.6% during the second quarter. BNP Paribas Arbitrage SA now owns 66,690 shares of the company’s stock valued at $1,290,000 after purchasing an additional 17,151 shares in the last quarter. Private Management Group Inc. raised its stake in Tenet Healthcare by 1.2% in the second quarter. Private Management Group Inc. now owns 813,918 shares of the company’s stock valued at $15,741,000 after buying an additional 9,386 shares during the last quarter. Franklin Resources Inc. raised its stake in Tenet Healthcare by 25.0% in the second quarter. Franklin Resources Inc. now owns 5,000,000 shares of the company’s stock valued at $96,700,000 after buying an additional 1,000,000 shares during the last quarter. Proxima Capital Management LLC raised its stake in Tenet Healthcare by 8.3% in the second quarter. Proxima Capital Management LLC now owns 103,939 shares of the company’s stock valued at $2,010,000 after buying an additional 8,000 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Tenet Healthcare by 5.6% in the second quarter. Legal & General Group Plc now owns 290,027 shares of the company’s stock valued at $5,610,000 after buying an additional 15,389 shares during the last quarter.

Shares of Tenet Healthcare (THC) traded down $0.60 on Friday, hitting $13.50. The stock had a trading volume of 3,800,874 shares, compared to its average volume of 3,633,287. Tenet Healthcare has a twelve month low of $12.25 and a twelve month high of $22.72. The company has a debt-to-equity ratio of 21.21, a quick ratio of 1.21 and a current ratio of 1.28.

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About Tenet Healthcare

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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Earnings History and Estimates for Tenet Healthcare (NYSE:THC)

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