FY2018 Earnings Estimate for Tenet Healthcare Corp Issued By Leerink Swann (THC)

Tenet Healthcare Corp (NYSE:THC) – Investment analysts at Leerink Swann lifted their FY2018 earnings per share estimates for Tenet Healthcare in a research report issued on Wednesday. Leerink Swann analyst A. Gupte now expects that the company will post earnings per share of $1.29 for the year, up from their prior estimate of $1.24. Leerink Swann currently has a “Buy” rating and a $27.00 target price on the stock. Leerink Swann also issued estimates for Tenet Healthcare’s FY2019 earnings at $1.93 EPS.

Tenet Healthcare (NYSE:THC) last issued its quarterly earnings results on Monday, November 6th. The company reported ($0.17) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.23. The company had revenue of $4.59 billion for the quarter, compared to the consensus estimate 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 previous year, the business posted $0.16 EPS.

Several other research analysts also recently commented on the company. Deutsche Bank reaffirmed a “buy” rating and issued a $24.00 price target on shares of Tenet Healthcare in a research report on Friday, September 1st. Zacks Investment Research raised Tenet Healthcare from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. William Blair reissued a “market perform” rating on shares of Tenet Healthcare in a report on Tuesday, November 21st. Morgan Stanley decreased their price objective on Tenet Healthcare from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, November 9th. Finally, Mizuho reissued a “hold” rating on shares of Tenet Healthcare in a report on Friday, November 10th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.93.

Tenet Healthcare (NYSE THC) opened at $15.13 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.28 and a debt-to-equity ratio of 21.21. The company has a market capitalization of $1,530.00, a P/E ratio of -2.75, a price-to-earnings-growth ratio of 3.65 and a beta of 1.17. Tenet Healthcare has a 1 year low of $12.25 and a 1 year high of $22.72.

Hedge funds have recently made changes to their positions in the stock. Riverhead Capital Management LLC boosted its stake in Tenet Healthcare by 67.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock valued at $152,000 after buying an additional 3,161 shares in the last quarter. Flinton Capital Management LLC boosted its stake in Tenet Healthcare by 65.7% in the 2nd quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock valued at $153,000 after buying an additional 3,128 shares in the last quarter. Pentwater Capital Management LP acquired a new stake in Tenet Healthcare in the 3rd quarter valued at $164,000. Russell Investments Group Ltd. boosted its stake in Tenet Healthcare by 182.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock valued at $173,000 after buying an additional 6,800 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Tenet Healthcare in the 3rd quarter valued at $183,000.

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Tenet Healthcare Company Profile

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.

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

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