Brokerages Expect Tenet Healthcare Corp (THC) to Announce $1.29 EPS

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

According to Zacks, analysts expect that Tenet Healthcare will report full-year earnings of $0.69 per share for the current fiscal year, with EPS estimates ranging from $0.63 to $0.91. For the next year, analysts anticipate that the firm will post earnings of $1.21 per share, with EPS estimates ranging from $1.10 to $1.34. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover Tenet Healthcare.

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

A number of research analysts have commented on the stock. Citigroup reaffirmed a “hold” rating and issued a $16.00 target price on shares of Tenet Healthcare in a research report on Thursday, September 14th. ValuEngine cut shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Royal Bank of Canada reaffirmed a “hold” rating and issued a $19.00 target price on shares of Tenet Healthcare in a research report on Monday, September 25th. Credit Suisse Group assumed coverage on shares of Tenet Healthcare in a research report on Thursday, November 2nd. They issued a “neutral” rating and a $15.00 target price on the stock. Finally, Mizuho reaffirmed a “hold” rating on shares of Tenet Healthcare in a research report on Friday, November 10th. Four research 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 has an average rating of “Hold” and an average price target of $18.87.

Tenet Healthcare (NYSE THC) opened at $15.36 on Friday. Tenet Healthcare has a 1 year low of $12.25 and a 1 year high of $22.72. The company has a debt-to-equity ratio of 21.21, a current ratio of 1.28 and a quick ratio of 1.21. The company has a market cap of $1,550.00, a PE ratio of -2.79, a price-to-earnings-growth ratio of 2.20 and a beta of 1.17.

Institutional investors and hedge funds have recently modified their holdings of the company. Riverhead Capital Management LLC lifted its position in shares of Tenet Healthcare by 67.3% during the second quarter. Riverhead Capital Management LLC now owns 7,861 shares of the company’s stock worth $152,000 after purchasing an additional 3,161 shares in the last quarter. Flinton Capital Management LLC lifted its position in shares of Tenet Healthcare by 65.7% during the second quarter. Flinton Capital Management LLC now owns 7,888 shares of the company’s stock worth $153,000 after purchasing an additional 3,128 shares in the last quarter. Pentwater Capital Management LP acquired a new stake in shares of Tenet Healthcare during the third quarter worth about $164,000. Russell Investments Group Ltd. lifted its position in shares of Tenet Healthcare by 182.6% during the third quarter. Russell Investments Group Ltd. now owns 10,525 shares of the company’s stock worth $173,000 after purchasing an additional 6,800 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Tenet Healthcare during the third quarter worth about $183,000.

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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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