Tenet Healthcare Corp to Post FY2017 Earnings of $0.65 Per Share, William Blair Forecasts (THC)
Tenet Healthcare Corp (NYSE:THC) – Equities researchers at William Blair increased their FY2017 EPS estimates for Tenet Healthcare in a report issued on Tuesday. William Blair analyst M. Larew now forecasts that the company will earn $0.65 per share for the year, up from their prior estimate of $0.63. William Blair has a “Market Perform” rating on the stock.
THC has been the subject of several other research reports. ValuEngine lowered shares of Tenet Healthcare from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Citigroup upgraded shares of Tenet Healthcare from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 12th. Royal Bank of Canada restated a “hold” rating and set a $19.00 price objective 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 set a “neutral” rating and a $15.00 price objective for the company. Finally, Mizuho restated a “hold” rating on shares of Tenet Healthcare in a research report on Friday, November 10th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Tenet Healthcare presently has a consensus rating of “Hold” and a consensus price target of $18.50.
Tenet Healthcare (NYSE:THC) last posted its quarterly earnings data on Friday, October 27th. The company reported ($0.17) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.21. Tenet Healthcare had a negative net margin of 2.85% and a negative return on equity of 5.61%.
A number of hedge funds have recently bought and sold shares of THC. Riverhead Capital Management LLC lifted its stake in Tenet Healthcare by 67.3% during the second 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 lifted its stake in Tenet Healthcare by 65.7% during the second 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 purchased a new stake in Tenet Healthcare during the third quarter valued at about $164,000. Russell Investments Group Ltd. lifted its stake in Tenet Healthcare by 182.6% during the third 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 purchased a new stake in Tenet Healthcare during the third quarter valued at 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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